All Forum Posts by: Reese C.

Hi Everyone,

I had a question regarding forbearance's impacts on commercial lending. 

For a conventional loan, the bank wants to see a 90 day period of regular payments before you are eligible for another loan.

For an investor that has exited forbearance, is this rule similar to commercial loan requirements?

Thanks

None of us have a crystal ball. However, I am not sure if the cutback of unsecured debt is a 1:1 translation of restrictions to secured debt. For the time being, there still is a housing crunch, pushing property values upwards, allowing the banks to have a more secure position.

Also, this may be more of a factor of the low interest rates making the products less profitable. Just my thoughts.

Congrats @Jasmine C. I have not heard of the Catapult Strategy, can you describe the strategy or point us to resources that discuss it? Thanks!

@Stuart Grazier & @Todd Belanger I have not built on the lot yet. Unfortunately, I let the pandemic slow me down a bit. I would like to start looking into this again soon.

Hi BP Folks,

I have a property in Centennial that is in need of some siding repair and paint. The house currently has panels that have swelled from water absorption and some trim work that needs help.

Does anyone have a recommendation for a proficient team that won't break the bank?

Thanks in advance!

Thanks, everyone!

Hi Everyone, 

I closed on a lot in Pueblo West today and would like to place a modular or stick and frame duplex on the property and looking for lenders that will provide construction loan for investors. 

Does anyone have any recommended lenders with competitive rates?

Thanks in advance!

Hi everyone,

I am closing on a lot in Pueblo that is zoned for a duplex. I am considering having a modular duplex built on the property and would like to know if anyone has recommendations or experience with a modular home builders in the area.

I am not closed of to a typical stick and frame style build but unsure of the time and cost difference between the two approaches.

Any help would be appreciated.

Thanks

Charles 

Thanks for the insight @Mark Hogan !

@Teri Feeney Styers The city is Centennial. Apparently there is a big push going on now to allow ADU's in the city as a part of the Centennial NEXT initiative. They are opening up to public comments on whether they should allow them or not. However, like you mentioned, affordable housing is in short supply, so I would expect them to move in that direction. The local HOA's may be a different story...

Hello BP,

I am looking at purchasing a property that would be perfect for a house hacking situation. The property has a walk-out basement with a room, living room-like area and a space for a kitchen/kitchenette. It would only need minor renovations to make the space ready to rent. However, I am not sure that if this space is converted, it would be considered an Accessory Dwelling Units (ADU), which the city prohibits.

I am trying to understand from a legal standpoint, where does a roommate scenario end and an ADU scenario begin? Is it based off of features (like having a fully functional kitchen and separate entrance), the share of utilities, intent, or all/none of the above?

Thanks!