All Forum Posts by: Matthew Rubsamen

Good Afternoon Bigger Pockets, 

I live in Colorado (Aspen are) and am looking at several multi-family investment options. 

Questions for those of you who own/are familiar with investing in multi-family:

1. Price per door as it relates to land: Say the listing price of an acre parcel with entitlements (multi-family) is $1,600,000 and there is a 75 unit project you have in mind. This would mean that each door = $21,333. What exactly is the purpose of calculating the $/door. I generally look at and calculate: Cost of land, plus construction cost, plus permits and fees, less vacancy and cost of funds (etc).

**Does the $/door valuation generally pertain to projects which an investor/developer would intend on holding?

2. Do you have a spreadsheet that assists in valuing these sorts of projects and helps the investor see how the real estate can/would preform?

Good Day Bigger Pockets. 

I am working with a group of investors and we are considering building an 18-Unit apartment complex. I have done the math as it relates to condominiumizing the project and selling it off - BUT in terms of the long-term hold; the numbers do not make sense. 

What number (%) do you all use for management when factoring and calculating the cash-flow-analysis? I am determined to find a way to make this project work and it surely does if all units are sold off independently BUT from a rental stand point I am seeing that cost of construction, plans, permits, city fees, and the dirt itself - this may not work. 

Thank you @Lizina Green

Thanks for posting. In my experience - shorter the better (as long as the yellow letter is inclusive of the KEY POINTS). These key points will generate the owners interest on their own. You dont need to convince them

I have started a company here in Colorado and we have set out to "Flip Houses" which is not the issue. The "Flipping" part is simple, more difficult is finding DEALS! We used www.yellowletters.com and mailed out 1000 letters to non-owner occupied home owners with 0-60% LTV (some equity).

You wouldnt believe it... we got about a dozen calls from uniterested parties! Has anyone had a better outcome mailing to OWNER OCCUPIED versus NonOWner OCCUPIED???

What are some other ways you have gone out and found deals. I am literally driving around and mailing to homes that look run-down/distressed etc!

I wanted to ask all who can answer - do you use yellow letters.com for your mail outs? I am currently generating and creating my next direct mail list and wanted to hear your success with yellow letters -versus postcards or standard letters? I don't have an issue with the cost although it is more expensive. I also plan to do my mail out to the home owners on my list once per month. List one includes those owners with at least 40% equity in their homes and are absentee owners. The second list is owners with at least 40% equity and owner occupied. My last question is what language do you include in your yellow letter" to grasp owners attention - my purpose and intention is to inform said owners that I will buy their home for Cash, quick close, no appraisal and no hassle. Thank you!

Great! I am a broker and also am an investor. If you'd like to get together at some point give me a call (970)989-3938

Hello Bigger Pockets. I am a realtor and have several investors whom I am interested in showing a aprticular duplex to. 

I have met witht the owner of the duplex and proposed that I list her property however she wants more than the market will pay - that is a fact. Lets say for example the home is worth (i believe it to be) $500K - and she wants $540K, no if ands or buts about it.

She has also stated that the home gets a total of $3600 per month in rental revenue which I find hard to believe. What would you do in order to suggest the listing price of $500K and to see the paper trail of the alleged $3600 in rental income?

I wanted to introduce myself to the BP community. My name is Matt and I am a realtor in the Roaring Fork Valley (Glenwood Springs - Aspen,CO). I am starting the CCIM process and have begun investing/flipping houses in the area. I hope to connect with and learn from as many of you seasoned investors/realtors as I am all ears to any suggestions. 

fantastic. I appreciate your response and will do just that. I will let you know How the first round of 1000 mail outs go!