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All Forum Posts by: Adam Haman

Adam Haman has started 14 posts and replied 38 times.

Post: Looking for spreadsheet or software to manage REO portfolio

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

Hi there!

Just started a new family company and contributed about half of my properties to it. Rather than dreaming up a brand new spreadsheet to keep track of the remaining properties and the ones in the company, I was wondering if someone has an inexpensive software or an awesome spreadsheet themselves to keep track of a portfolio with a little bit of sophistication and ease? 

Post: How can I increase my Net Worth 1% TODAY? Amaze me BP landlords!

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

Here's my favorite: Instead of rent increases on your expiring leases, add a monthly utility fee to cover water/sewer/trash/recycling/landscaping as a "community fee." These things have value, don't give them away! Also by charging this as a separate fee, you can advertise your rent at a lower rate to get more inquiries. This approach is adding much more than 1% to my net worth with my portfolio!

Post: Pop Top costs in Denver, 1960s Ranch

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

I'd jump all over it if 200k would do it! Thanks Dave, hope that ends up being the consensus :)

Post: Pop Top costs in Denver, 1960s Ranch

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

Good day everyone!

I'm seriously considering purchasing a home and popping the top. I know the price is going to be significant with the worker shortages here in Denver, but does anyone have any kind of ballpark guess for a 1400 sqft 2nd story addition to a 1960s brick facade Ranch? Looking to add 4 beds and 3 baths upstairs, of decent quality. Do you suggest Design/Build? Is there a way to have someone do the heavy construction and then turn it over to me for drywall and finishing? Thanks for any pricing or best practices insights you may have!

Post: How to start a 55+ community?

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

Good afternoon!

Some investors and I are the principal purchasers of a new apartment development in Colorado Springs, CO. We're wondering how we can go about making our community a 55+ community. Who do we talk to, and what rules do we have to follow?
On the HUD website it says only that:

  • At least 80 percent of the units must have at least one occupant who is 55 years of age or older; and
  • The facility or community must publish and adhere to policies and procedures that demonstrate the intent to operate as "55 or older" housing; and
  • The facility or community must comply with HUD's regulatory requirements for age verification of residents

This all seems a bit too easy to me, but can't really find step-by-step directions anywhere to do this. Any thoughts or ideas on the proper person to talk to about this? 


Thanks a million BP!

Post: I have 10 morts. Can I refinance into 1 commercial and buy more?

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

@Grant Rothenburger @Albert Bui @Wayne Brooks

Thanks for the replies! I'm trying to do this not only so that I can get new properties with Fannie loans, but also to free up some DTI so that I can buy a larger personal residence. We've been living small for many years, but we're now up to 3 boys who need some space and yard. I figure I'm doing this for them, what good does it do me to wait til they're moved out to have a nicer home, ha! Though I can probably get a couple more portfolio loans right now, that only further ties down my ability to get a larger primary residence DTI-wise.

I'd like to come up with a mechanism by which I can buy properties Freddie/Fannie, then "bank" them into a corporation every few years and start anew with another wave of purchases. If this is possible, I figure I can scale up safely in a big way without playing lending games all the time.

Post: I have 10 morts. Can I refinance into 1 commercial and buy more?

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20
Originally posted by @Aaron Beauchamp:

Are these commercial or mixed use properties?

They are mostly condos, townhomes, and duplexes. I was wondering if I could get a non-recourse commercial loan for them based on their cash flow (very good) and equity (about 60%). I'd be willing to start an LLC or corporation if that further allowed me to remove them from my personal credit.

Post: I have 10 morts. Can I refinance into 1 commercial and buy more?

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

Hi All!

I'm wondering if I were to refinance a handful of my properties into a non-recourse commercial loan, would these properties then come off of my personal credit so that I could purchase more properties with Fannie/Freddie loans?

Would love to hear from someone who has attempted this. Thanks!

Post: 8 Rental Ready Properties in The Woodlands!!

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

i would love to see as well, can you PM me the details?

Post: New Realtor, Investor, and to BP - Need Advice

Adam Haman
Posted
  • Rental Property Investor
  • Denver, CO
  • Posts 45
  • Votes 20

Hi @Bill S., certainly wasn't looking to offend with my post, just to throw a couple considerations out for a newer agent who perhaps isn't ready to navigate a situation I described as "too deep into the gray for me" and you describe as "not a black and white issue." I think we're on the same page on the reality of wholesaling as an agent, just that you choose to do it and I do not. Agree to disagree.

It isn't difficult at all for me, or many folks to understand that some people aren't looking for the most money out of their real estate, but they are admittedly few and far between...unless you target your advertising to them, which I do not, and which you probably do. I imagine you come across many more such people in an average year than I do, and if I truly came across someone looking to get out NOW and not terribly concerned about price after I informed them that with a little time and patience they could probably do better, I'd probably find a way to work it out to purchase from them on these terms as well, likely with the input of my managing broker and perhaps a RE attorney (I hate typing that...I've rarely met an attorney that helps things get done!). 


Bill, I have no doubt you go about your business in a very professional way, I've met you and I know that to be the case. My post was not meant to criticize you, just to warn a newbie against some of the pitfalls and difficulties that could arise that may not occur to a newly licensed agent, and indeed have never come into play with me personally over 11 years in the business. With experience comes a broad understanding, finesse, and skill, all of which I'm sure you exercise in these situations. For me, though, being a Realtor is my day job and the only income my family has outside of our RE investments, so I don't like to tread too closely to anything that could remotely threaten my license status...even if my own lack of knowledge is the only threat in this situation.