All Forum Posts by: Chad Harris

Looking for recommendations on a few banks or lenders in Colorado that have a short (less than 6 months) or no seasoning period for refinancing, if the property was originally purchased with a hard money loan.

Thanks!

@Hai Loc thanks for the input.  Two units would be about 2500 sf with 3 beds 2.5 baths, garage, courtyard, plus bonus space above the garage in the $400k-$480k range.  The ones attached to the commercial space would easily be able to get $175k each.

Thanks Jon, I appreciate the input.  I will look into PPM a bit more.  I will also definitely be pitching it at the real estate investor group.

Both projects would be to build and sell, the commercial space would be held though.

Hi Everyone!  

I was hoping to reach out to this awesome community to find suggestions on raising funds for development projects.  

For a little background, I am a licensed broker and I am working on finishing up my architecture license this year (only 3 tests left!). Being out around the town, digging through the GIS and MLS, I continuously have a stream of ideas for projects that could be built and be profitable in this market.

There are two projects that I have begun putting together schematic designs for and have taken both to contractors to get cost estimates for construction.  With both of these projects I hit a wall at this point as to what I need to do next when it comes to financing them.  Both projects are urban infill townhomes in the downtown area in Grand Junction.  One would be 2 higher end, large units.  The other is about 7 row-house style townhomes, attached to an existing commercial space.  

Any input for how to best go about finding financing, partners, etc, for these projects would be amazing!

Great looking project well done!

@Micah Copeland That is great, thank you!  That is a pretty simple way to add value, I live in a small city and it is pretty easy to stay up on the market, but that is a good point about understanding where neighborhoods are headed.

I started out as a broker at the end of December 2014 and since then have met a number of real estate investors in my area.  I just wanted to get some feedback from the broad community of investors as to your thoughts on how I, as a broker, can add value to my relationships with investors.  I understand the importance of these relationships and want to be able to serve investors above and beyond just sending out new listings and price reductions.  What are your thoughts?

@Sheena Blankenagel  It was great to meet you also, we will have to have a look at that duplex when you finish.

@Carlton Kohler Thanks I am happy to be here, and thanks for the article suggestion.  I did check that out.  It excites me that you can use the potential rent from one unit towards income in a loan app!

@Larry Fried  Thanks Larry, I will be sure to dive into the UBG this weekend.

Nice to meet you Mark, and thanks!  Any good Western Slope real estate investment groups you would suggest to join?

My name is Chad Harris, I currently live in Grand Junction, Colorado and am beginning to educate myself on real estate investing.  I am currently a REALTOR with RE/MAX out here, but have a background in architecture and design.  My girlfriend and I are hoping to start investing this summer and are looking into duplexes to live in one unit.  In the future I hope to be able to work as the architect as developer in projects.  I am very happy to be here and excited to learn from the community!