All Forum Posts by: Thomas Hundtoft

@Teri Feeney Styers Stop trying to sell Grand Junction lol.  GJ is a horrible place, meth heads everywhere, tenants that don't pay rent, horrible weather, and smog with mean dogs.  

Thomas Hundtoft

Grand Junction, CO

If you are taking the equity out and putting it in a savings account, why wouldn't you proceed with investing it in a property? You are missing out on appreciation by putting it in a savings account.   There are still deals out there, just not as easy to find as it was a few years ago.  

Colorado is a diverse state for investing.  There are areas that perform well and there are other areas that offer experiential learning opportunities.  Like most people in Colorado, investing here is great due to the growing economy.  What one thinks is overpriced now is befuddled by the price of the same property the following year.  Still getting good appreciation in an inflated market.

Ya gotta pay your dues to the Cartel lol.  

I have my searches set up and peruse the sites.  I'm focusing on areas that have military bases and colleges.  I have a couple of properties locally that a realtor has found for me. One of the BP members @Teri Fenney Styers is a realtor in GJ and can set you up on a search.  She is also a flipper and I have seen some deals she has sent that have some opportunity.  

The flipping market is very competitive and it is totally a sellers market at the moment.  The deals are out there, just takes some patience and getting them into your funnel.

@Teri Feeney Styers  Everyone said it would be easy work to do a rehab lol...

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Did the buyer have an inspection done prior to purchase?  Did you scope the lines when you bought it to inspect the plumbing?  I have the lines scoped when I buy an older home to make sure this kind of thing does not happen.  It also helps that my son is a plumber with the line inspection camera.

Thomas

Hi Colorado Investors, I have been doing some investing is rural areas. This attached are some photos of my latest project. I'm not quite done yet and already have potential renters knocking on the door. It will cash flow well. I bough it right and it appraised 40K higher than I paid ($55K). The calculation worksheet has it cash flowing at $300/month. Not too bad. I could have done worse:) Too bad my van will not fit in the garage. I would live here if it did.

Colorado Property walk through clip  

Thomas