All Forum Posts by: Spencer Rafii

@Stuart Grazier - I work with a decent amount of SFR, Condo and Townhome investors. From working and talking with Investors it sounds like the rental market for SFR and Townhomes is still strong, but with Condos we have seen softening in the rental market.

One of my friends is a portfolio manager for a large property management group in Denver. They manage anywhere from 4 Unit to 30 Unit +. I just called him he says their rental rates for new construction are down around 15% and for older buildings they are down 10%. Part of this is that their average vacancy has gone up from mid 20s (last year) to around 45 days this year. 

Most of their buildings are in the Downtown / City area. 

@Stuart Grazier - On the road today I have a few articles I will post later. Here is a good video I reference sometimes. 

I also really like BP Episode 402: Identifying your best market

I think I have a few more links on my computer I can share in a bit.

@Matt M. Thanks for chiming in. If you are comfortable sharing what type of numbers, or what margins do you look for on your flips?

@Chris Freeburg - Thanks for those links, always great to stay up to date with any changes in plans. I am curious how many flippers out there target Opportunity Zones. Four Point Funding is a really sweet OZ investors. 

@Mark Stark - Funny you all mentioned Barnum, one of the investors that buys from our Wholesale Network, just bought a SFR that he had flipped back in 2016. He used very low end finishes in 2016 but the growth in that area now allows for a few steps up so he is going to give it a facelift.

Hello Bp Community and the Denver Investor Network,

The market has been very strong and finding the next hot area is always on everyones mind. I have come across a ton of resources for choosing a neighborhood within a city for investing in a rental property, but what are some good resources and criteria that flippers look for when having a 4-6 month exit strategy. What else about the area do you all consider when flipping a property?

Below is always an interesting question I like to ask my investors when getting to know their criteria and what motives them to purchase there next project: "Which local areas of the Denver Metro would suite themselves best for their strategy and why?"

Some folks will look for low days on market, low active inventory and comps that are closing above ask.

What are the areas that you all like to flip in? For flips any recent success stories? Any of my Data folks have any good insight?

Thanks in advance,

Spencer

Thanks for sharing Steven Tawresey. Sounds like an interesting process. Good luck on the rehab!

Its episode 399 - and one of the last topics is making a GC/Rehabber a partner. The full episode is good though!

Hey Joel - First I am a big fan of the Aurora Market to flip in. I have done almost five deals in that area over the last few months. All of my investors that I source Off Market Properties tend to pay out their GC's or folks acting like them. I also listened to the BP Podcast and they talked about it - the conclusion was to keep them out as a partner. For a few different reasons. 

Hey Joe, This is super very common in the Denver Market. A lot of the newer builds, 2010+, will be built on a 6250 sqft lot. A builder will build a duplex on the lot and sell each of the sides to home owners, normally. 

@Forrest Shaw Wanted to check in and see if you got a deal this summer and what were some of the places you ended up getting good info from.