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Updated almost 9 years ago, 01/25/2016
Investor from Denver, CO
Hello...
I am Nate. i have been an investor in the Lakewood, CO area since 2004. I am a Buy/Hold investor. I am interested in multi-family housing and possibly developing mixed use land I own near light rail. I am excited to learn more about the business in the fast paced Denver market.
- Residential Real Estate Investor
- Kansas City, MO
- 4,845
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Welcome to BiggerPockets Nate and good luck investing!
Welcome here to BP. Have some connections south of you, friends that live in Pueblo. Good luck here on BP, I have met some interesting people and stay informed.
Happy Investing
@Nate Wightman welcome. Sounds like you have done well for yourself. If you have any questions about development I have some experience on that front from a technical angle as well as real estate knowledge.
Thanks all, I love to think... brainstorm. We have a property (dumb luck....sorta) at a light rail station and zoned for crazy density. So, the question... or opportunity is sell, sit, or develop. Sell is easy ... but probably not best opportunity. Sit is easy but not best near term return. Develop most exciting and risky with possibly the best returns. As I explained to my kids the other morning 1st house took 30k down on 125k house current equity up there.... this is the property I am writing of. 2nd home 45k down on 230k now $250k equity. Then 3rd duplex my wife found after a long 15 month search... 55k down on 252k with equity of 200k.... So as I am telling my boys this and pointing out our out of pocket and the banks money and how these smaller cash down payments have allowed us to leverage our money...I start to explain to them that the bank can use the equity in our first house on the land at the light rail station to finance a substantial project and will not require much or any cash from us.....BAM. This could be the first deal which requires no out of pocket money. BOOM. I explained myself right into developing. maybe. So, the opportunity seems to be develop in small phases. Though this also is not stone. I have looked at the newer modular techniques then saw this... http://www.gcpci.org/projects/project.cfm?articleID=EF1AE861-F1F6-B13E-843AA60346F815F2&categoryIDs=&searchString= A habitat building in NY precast concrete... you have to see it. Thanks all again and hope this short post has been entertaining.
Great to meet you here. Have some friends that live in Pueblo, my wife and I invested in Pueblo 10 years ago, some land investments with water rights. Anyway interested in the land that you want to develop, have you got a package on it, we may have an interest.
@Nate Wightman welcome to the community, stop by a meetup sometime and say hello (dates and times here https://www.biggerpockets.com/forums/521/topics/260081-denver-january-meetup)
@Nate Wightman Welcome to biggerpockets. It looks like you have been busy and had some success in our market. Equity is interesting in our market, cash out, build, move on. But what do you do with the cash? I am working through a 1031 exchange now to put equity to work rather than let it sit in a property.
I am building near the light rail now. Building new construction is a very different animal and should you go that way I encourage you to build a great team. There are a lot of moving parts and you truly are as strong as your weakest link whether it be the architect, GC or anyone in between.
Best of luck!
Welcome @Nate Wightman. I see we are "neighbors". I'd be great to chat at one of the BP meetups (next one is Feb 1) in Denver. I know some light rail developers currently building MF in Golden and would be happy to give you details.