All Forum Posts by: Arturo Fuentes

Hello, 

I'm in conversations with my neighbor to sell me her house, and I want to pitch a seller finance idea to her. I want to understand better what this would mean for her, to use that as an argument to convince her on the idea. I understand that she'll be avoiding lots of fees and commissions (including agent fees, inspections, etc), and I also understand that she would be able to avoid capital gains tax as well (?). Can someone explain this better, specially the tax piece of it?

Thanks! 

 Hey Blaise, the PM group has their own listing agents, currently have 2 assigned to the property. Any thoughts on what else they could be doing to move the properties faster?

Hey Catherine! They're using a combination of bi-weekly email bulletins and postings in websites (i.e. LoopNet). In your experience, is there anything else/different they should be doing?

A commercial property in the Denver area (Littleton) has about 20% of its suites vacant for the last 4 months. When questioned, the property manager stated that the market for small offices (800-2400 sqft) usually slows down during the summer months. Given my minimal experience with commercial properties, I'm not sure if this is true or the property manager is incompetent. Assuming the latter and besides switching PMs, what other actions could be taken, from a landlord perspective, to get these suites leased up? Note that the suites are recently renovated and ready to go. Thanks!

Hi BP friends, 

I'm wondering if anyone here has been successful in using Section 502 Guaranteed Rural Housing Loan Program to fund an investment deal. Currently looking to use it to purchase and develop a property in the mountains, and I'm just looking to get a better understanding of what the process is like. Thanks!

Hi friends! 

Newbie investor here. I came across this property in the MLS this last weekend. It is a single family house in one of Denver's up and coming neighborhoods. The house itself is one of those scary ones that has a lot of problems. From moss growing between the shingles, to water (and possibly mold) in the basement, this one has it all. The property is being described as "investor special", probably because no bank will give anyone a loan for this property. Per the listing agent's comments "this house is uninhabitable".

Here are the numbers:

2 bedrooms, 1 bath. Unfinished basement. House is 880sf in a 4500sf lot. The lot is zoned for 2 units. Asking price is $270K, Comps are between $309-330K. I'm estimating it's going to take at least $70K to bring up to rent ready.

As you can see, those numbers don't work in any way, which makes me curious if anyone else sees a way to make this one work. 

One option I see is to make an offer at a price that makes tu numbers work, say around $190K, which I really don't see them accepting. Another option I see is that it is being listed for land value (think tear the house down and build 2 new units there). The problem I see is that the price is still too high. To give you context, ready to build lots in Curtis park (one of the best neighborhoods in Denver, in my opinion) were recently sold for $225K. 

No matter how I look at it, this property doesn't work with the asking price being anywhere close to where it is right now. Am I missing something? Do you have any other ideas on how this property could work?

Let me know your thoughts!

Thoughts on financing a container house? Are banks or lenders weary of them as it's a relatively new product? What about insurance?

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Hi all!

I have been thinking of buying a piece of land in the mountains and building a cabin using a container. The idea would be to build it, airbnb it and use it when available.  Besides the architecture/construction considerations (building code, finding a contractor that know how to work with containers, etc), does anyone has any experience with these, specifically in terms of financing and insurance? 

Let me know. Thanks!

@Stone Saathoff Thanks for reaching out! I would love to understand your position better. Why wouldn't you want to have the title company hold the deposit until closing?

Hi all, 

Thanks for your responses and opinions. 

@Kyle J.We stayed firm on our position on only going through escrow. They didn't like that and walked away. Probably best for everyone. You do have a great point, even if I were to sue them if things went south, it would be very hard to collect that money. Thank you for your thoughts!

@Wayne Brooks Thank you! Definitely not wiring the money directly. 

@Mark Sewell No, this is Myers, the Home Buyers. 

@Joe Splitrock Thanks! That's the exact reason why we wanted to have the title company hold the money. Wholesaler decided to walk away, which is a very good indication that this wouldn't have worked for us. 

@David M. They claim that's their standard practice, and if we want to work with them, we have to adhere to it. Don't think we'll be working with them in the future. 

@Jason Hirko Yeah, it seems like this big wholesaler groups have practices like these in place, therefore I thought I was missing something and this shouldn't be a big deal. But after reading all of your opinions, I'm positive that this is not the right way to do things. Thank you for your opinion!