All Forum Posts by: Wade Mattingly

Hello,

I've got a 15 year history with investing in rentals, property management, and new residential construction.  I've decided I would like to move out to Colorado.  I'm somewhat familiar with Denver Metro as I have visited about 10 times.  I am currently looking for a job in new residential construction management.  I have 8 years experience with being a construction superintendent, field manager, manager, etc.  I have begun some of the preliminary processes of winding down my involvement in things in the Kentucky area and have begun to apply to jobs in the Denver Metro area.  I have been researching the companies pretty thoroughly but you still don't always get all the information.  It dawned on me that I'm sure there are several realtors/investors/builders who may be on BP that would have personal experience with new residential construction scene out there that may be able to give me some insight or steer me clear of a bad gig.  I've worked for Pulte here(think they are still top 5 largest builder) and didn't like it.  Worked with a large regional builder here who is still privately owned and have enjoyed it.  I would appreciate any insight.  As always TIA.

 I would If I had 20k lying around.  That is why i said I may have to just pay down it as fast as possible til I get to the price I can sell it at.  

 It’s in a college town and their are breweries and such nearby.

Ok, I will try and keep this as short as possible.  I bought a house off my private lender to help him out.  The house was in worse condition than I thought so I couldn’t do anything with it.  I moved away and the house sat.  Ultimately the city tore thee house down and slapped a lien on it.  I owe $40k at 13% and a $7k demo lien the city isn’t calling due.  Houses in the area sell between $85k and much more rarely up to $130k.  I’ve slung some numbers around and it doesn’t appear I could build a house, sell, and break even.  I’ve also looked into modular but don’t think that is an option.  Again, I may be wrong on all that.  I had lot under contract for about $27k but my lender wouldn’t allow me to roll the debt.  Should I just maintain it and try and pay it down to the area that it would sell for?  Do You think there is a way to build out and break even?  This is an R-3 lot.  So I can do single family or multiple family.  Could also do boarding home which may allow for Airbnb options.  I have flipped some homes and have rentals in the area.  It is becoming an area with quite a bit of revitalization.  I have 5 years of new home construction management experience fwiw.