All Forum Posts by: Travis Sperr

@Holly Scott outside of the contractor issue - this shouldn't be a huge deal - a roof permit is typically an inspection after completion, so depending on how nice the building dept plays you can probably get an after the fact permit so long as you explain the issue.

The contractor not being able to show a permit was pulled is pretty telling.

didn't see that Sean responded. 

@Lashaw Salta - your post caught my attention because I live in this area. If you are buying off of the MLS the property likely doesn't work for the BRRRR strategy because it will be very difficult to add enough value via rehab to limit your money into the deal. For example - run the numbers doing a purchase and repair with a conventional purchase rather than with the refi.

Also the area is in demand just like the rest of the metro area and will be difficult to cash flow - it is difficult to get over about $2,000 a month in rent unless you are in a very nice property and area. run your numbers again for cashflow and make sure it works. 

A lot of people that live in these areas commute to Boulder or Denver as it falls right between the two - this keeps the whole corridor in demand.

@Rich Hupper I should have phrased a little differently - all counties report differently, some MLS's include the mortgage term and interest rate after a closing. I use myfirstam - it is an app from First American Title that allows you to see all of the information on a property in seconds. It is a free app, you just have to contact a title rep at First American.

@Rich Hupper it is my understanding that renav uses the public record - loan balance, rate and term to give an educated guess at the current balance. Fairly simple to do on one property at a time, assuming all liens are recorded. 

@William Savage

I am building stick built. No question the construction industry is slow and resistant to change - as are the municipalities and buyers. There certainly are people who are interested in this product but it is a small portion of the over all buyers pool. When I am building a project I want to be an option for as many buyers as possible.

It often comes up and a lower cost option, but I think you would get less units on the same piece of dirt with containers than stick built. 

There are a few around town and Rino makes sense because it is still almost grungy enough no one cares - but try to build one in LoHi or Jeff park and watch the neighbors go nuts. Get out of the urban setting and the buyers will be few and far between.

Financing a project like this is a whole different can of worms...

A couple times a year this discussion comes up on BP.  Some areas of Denver you look around and every lot on a block is new construction. I am actively building town homes in our market and stick to this - if the container construction worked you would see a lot more of it. Construction costs have soared here in the last few years, if there was a cheaper, faster and more profitable way - it would be going up left and right. 

Law Long group is in Denver - Stephanie is a tax attorney and CPA - great outfit. One of the biggest benefits is that they do taxes and entity structuring, it is typical that an asset protection attorney and a CPA have different view on how to structure for protection and tax advantaged. They may not be the least expensive but are top notch.

Just FYI - you are about 3 months late to have conversations with tax person as they are all swamped right now.

I think you will find that the kitchen will cost more to update than it will bring in additional purchase price. There is less inventory this year than last and buyers will see past a dated kitchen right now. 

@Kyle Doney I believe they require a minimum number of properties before they will do the 15 yr fixed.