All Forum Posts by: Bo Birkeland

Hi All,

We have a few 4plex's for sale in Aurora Colorado, and were wondering what are some alternative ways to market the property to get it sold asap. The property is a 7 cap, so would like to get this in front of investors. 

Thanks for any and all help!

Bo

Howdy folks,

We have a brand new townhome community with 3 buildings for sale. One has 5 units, the other two have 4 units each. These were all built in the last year and have 2-3 beds, 2-3 baths, all 2-car garages. They are in the heart of Aurora. You can see one of the listings here.

I can provide more info and financials if interested. Please send me a pm or email us at [email protected]

Thanks,

Bo

Howdy folks,

We have a brand new community of townhomes in Aurora, Colorado and wanted to see if there is a place to post our 4plex's for sale. Is there a dedicated section for marketing deals?

Thanks,

Bo

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $310,500
Cash invested: $140,000
Sale price: $535,000

This flip was a bit of a learning experience. We knew going in there were major structural issues. However getting the permits approved to put tie-backs and wall anchors in took a lot longer than originally planned for. The whole rehab project hinged on the structural being completed in a timely matter and working with the Arvada city to get permits took months which was not originally budgeted for.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $310,500
Cash invested: $140,000
Sale price: $535,000

This flip was a bit of a learning experience. We knew going in there were major structural issues. However getting the permits approved to put tie-backs and wall anchors in took a lot longer than originally planned for. The whole rehab project hinged on the structural being completed in a timely matter. But working with the Arvada city to get permits took months which was not originally budgeted for. Once the tiebacks were in, we were clear to rehab the house, and the project commenced and finished up nicely. Thanks to a hot market, this property sold for way more than the original ARV.

Hey Brad, welcome to the Denver market! You're in good hands at Your Castle Realty and will learn a lot especially on the investment side of things. My advice from my couple years of experience is to find a good mentor or join a team and work hard. Learn scripts, study the market, grow thick skin, and network with as many people as you can. The more hands you shake, the more you will make. 

I'd be happy to connect and chat sometime. Congrats on getting your license!

Hey Ben, love the story man and congrats on founding a successful software company! That's truly incredible especially in Silicon Valley where competition is stiff. Would love to learn more about your company and how you were able to scale that up. I'm sure there's some overlap with the real estate world.

Sounds like you've got a good start with real estate investing too. House hacking is an awesome way to dip your toes in real estate and get started with minimal risk. I also live in Lakewood and the values have appreciated at an incredible rate over the last 10 years and I expect it to keep going. They're not making any more land between Denver and the mountains so this area will continue to perform well. The "Gateway to the Rockies" is a good place to be going forward.

I'm happy to connect and chat about real estate investing. Always like to meet and network with other people in the industry. Feel free to reach out!

Hi Nathaneal! That's awesome you are jumping into the real estate world, wish I did when I was younger. I'd be happy to chat with you and grab a beer I'm always looking to network and meet other people interested in real estate. I'm actually hitting the slopes today at Winter park. Need to get some turns in :)

Investment Info:

Condo fix & flip investment in Westminster.

Purchase price: $127,000
Cash invested: $26,000
Sale price: $186,900

Quick 3 month fix and flip in Westminster with 26k invested and a healthy profit margin over 10%. The tricky part was negotiating a special assessment with the buyer that is for the next 15 years. Lesson learned - read all HOA docs and understand the financials of the HOA.

I don't see how prices will decrease given the current economics of the situation. I'm reiterating other points people have mentioned, but a historically low inventory paired with historically low interest rates and an influx of people from markets with much higher home prices is a recipe for appreciation (or inflation! we'll see what happens). The only thing holding back the double digit yearly appreciation would be wage growth which might not keep pace with the prices. However, new buyers coming into the from Cali and NY markets are filling that gap.