All Forum Posts by: Marcel Theisen

Thanks! 

Hi, 

Was wondering if anyone can recommend a good property manager for Fort Morgan area (even if they are located in one of the surrounding towns - Wiggins, Brush, etc but willing to manage a multi-family in Fort Morgan)? 

Thanks-

@Dan Krupa Thanks! That 2nd link is a great resource!

@Cameron Pendergraft thanks for the list, really helpful. 

I'm an out of state investor looking at properties in KC.  Would like a local expert opinion on 64138 area ("Park Farms" I think it's called -pocket east of 435 / west of 350)?  

I own property in Colorado (also out of state for me as I live overseas) in what most would consider C- neighborhoods but have a great PM managing it.   

I am ok with less desirable neighborhoods but want to avoid conflict areas/high risk properties.  I've been told to avoid  66102, 64127 and 64130.  

Was told by real estate agent that 64138 = C+.  

Any locals willing to give opinions? 

Thanks! 

@Sean Tarpenning Thanks, I'll keep looking and might contact you once I narrow things down. Agreed, a top-notch PM is key for me, especially when investing out of state. 

@Andrew Syrios  Thanks for the feedback. I'll have to plan a trip to KC to get a better idea of neighborhoods, right now in early research stage. Thanks-

Looking at small multi-families in KC.  Some of the potential deals look like pretty rough neighborhoods (based on crime stats) but would appreciate opinions from people that know KC market. 

Would you steer clear of these areas completely?  I've got a property in C- area in CO so I'm OK with less desirable areas but want to avoid war zones.  

66102: Just off Central Ave around Bethany Park

64127: North of 70 just off Blue Valley Park

 Thanks-

@Kerry Baird

Hi Kerry, sorry can't really give any feedback on Caliber.  I contacted them and got details on terms, etc.  but didn't get very far with them...

Hi Devon, 

Welcome to BP and congrats for taking action on finding your first rental property. 

There really isn't enough info in your description to analyze the deal but just based on $255K for $2k in monthly rent doesn't sound like a great opportunity. You may want to use the Rental Property Calculator (under Tools tab above) and also check out the beginners guide to start analyzing properties: 

BiggerPockets Ultimate Beginner's Guide to Real Estate Investing

-Marcel 

@William Mccauley welcome to BP. Congrats on taking action and looking for a 4-Plex!

As mentioned in the other comments, the cash flow looks negative especially considering you would be occupying one of the units and only have rental income from 3 units. I think that having 3 out of 4 1BR makes it tougher since rents are lower.

While you are analyzing 4-Plexes in the Springs, I would raise your utilities calculation to $300-400 to be conservative. (Consumption will depend on how many occupants, etc but CSU will charge you as commercial for 4-plex and they also raise water rates in winter months so I would be surprised if you could keep it to $250 for a 4-plex). I would also account for Trash (depends on the type of dumpster but calculate around $75-100). I think 5% for both Capex and repairs is a bit low. Let me know if you have any other specific questions while looking at 4-plexes.

-Marcel