All Forum Posts by: Reese C.

 Hey Brian, I didn't know you were on here! Just sent you a Facebook msg :D

I will take a closer look at Omaha (especially since it's not too far off from Denver).

Thanks everyone for your feedback! Here are a few details, thoughts and responses.

@Vee K.

• @Vee K. The $40K would be for a DP. I am not looking to purchase a place outright for $40K.

• @Caleb Heimsoth Thanks for the offer, I will take you up on it. I will be targeting cosmetic rehabs (paint, carpet, appliances, vanities etc.). I would like to hear how your experience and numbers differed between basic rehabs and turnkey properties.

• @Walter Key, You are right! This question / this post to help identify areas is just the next step in a long process that will lead up to an ultimate purchase. I plan on doing quite a bit of research into the right people and getting them in place but need to narrow the aperture. 

• @Chris Lopez That's a great idea. I have the same question as @Brian Garrett.

• @Jay Hinrichs Thanks for your insight, I truly appreciate it. I watched your podcast and I know you have TONS of experience. Is there an alternate path you would suggest based on the info?

Hello Everyone,

I am currently in the Denver Metro area and have one property that I am renting out and a primary residence. I just read David Greene's book Long-Distance Real Estate Investing. The book is great and I am motivated to implement the strategies that are taught to BRRR properties. But there is one problem with the book (or me)...

The problem is that it opens the whole country up as a possibility. The hurdle now is determining which markets would be good ones to target. I would like to target 3 and here is my shortlist:

Kansas City, KS

Orlando, FL

Raleigh-Durham, NC

Grand Rapids, MI

Des Moines, IA

With about 40K to invest, are there any on this list you would recommend, remove or add? 

Thanks

Thank you @Linda Weygant. We looked at building a couple years back and received some quotes and I definitely see how the construction costs have gone up. 

Do you guys think a prefab home be a good option to get better quality for price? 

Hi Mike,

Thank you for your feedback. I figured that this may be the case. It looks like the building costs have gone up considerably here, in step with the property values. I guess its a good thing that land doesn't spoil. I will PM you shortly about your advice if you don't mind me bending your ear. 

Hi everyone,

I am currently in the Denver-metro area and as many of you know there is very low inventory and prices continue to skyrocket. I'm looking to purchase a place to move into and rent out my current one and leap frog from there. However, I have been beat out numerous times in offers and are thinking about another approach.

I have a lot in Aurora that does not have any utilities or foundation. The surrounding houses are valued at around 300k built in the 70s. I am thinking about building a house on the lot but trying to move in with equity. Are there any home builders that could build a decent quality home under 300k including tap fees and foundation? Or are there any other options I should consider? 

Thanks

We are looking at potentially purchasing a HOA Lien and had a question about the redemption period. If a lien holder steps up to redeem after our purchase, how much would we be entitled to using the example below? Also if there is a super priority portion like in the example below, are we entitled to the Lien Total or only the Super Priority portion?

Example: 

HOA Lien Total: $5.000

Super Priority Portion (6 Months x $250/mo dues) : $1,500

Remainder: $3,500

Thanks for the post Wayne. Ideally we would like to pay the remaining mortgage off if we obtain the property and then sell the property. However I have been reading on the forums that there is difficulty working with the mortgage company if you are not listed as a party.

In this scenario we did a title search and discovered that the State of Colorado is the is the holder of the deed of trust. Do you believe this will make it tougher or easier to accomplish this or even quit claim deed?

Thanks Travis! 

So if we purchase it, take it to auction and it sells for greater than the amount we purchased it for (owner bid) we get a return. Else, we capture the certificate of purchase and move to the redemption period?