All Forum Posts by: Chris Mitton

Need help with this one. We need access to all units of a four unit to complete the appraisal. One of the tenants will not let us in, even with 24 hours notice. How can we get in the apartment, legally??

0 Votes

Colorado Springs, Colorado

Quote from @Steve K.:

Quote from @Boston Blake:

Thanks, everyone for the insightful information, as someone wanting to get a rental property in Denver this is helpful information. I have been analyzing for the past couple of months but I have felt like everything has been extremely high. I am glad to see prices coming down and there being better opportunities for buyers now.

Rates are actually down again too: my preferred lender locked in a client of mine at 4.625% last Friday and we got them under contract $100k under original list price on a $785k listing. It will cashflow positive AND it's in a great location for appreciation. Good deal!

Hey Steve- Good to see you here. Hope all is well!

1 Vote

Denver, Colorado

Quote from @Stephanie Ford:

Btw I never assign a contract...never

What are the disadvantages of assigning the contract?

0 Votes

Quote from @Tom McDermott:

Quote from @Chris Mitton:

Quote from @Tom McDermott:

Quote from @Scott Trench:

I've seen a number of prices drop here in Denver over the last quarter or so. We are definitely seeing the market soften. Time will tell how things play out.

That's a great question. To tell you the truth, most sellers are unwilling to accept the new market. They see their neighbor Bob got 10 million a couple months ago, so why can't they. SO were seeing a lot of stubborn sellers still and sellers forced to change is they really need to sell.
Scott, thanks for the confirmation. I hope this will allow me and other newbies to potentially enter the market with some creativity and not just "best and final" over asking price.

We're seeing a lot of price reductions in CO and listings staying on the market a lot longer than this time last year. I agree, this is the time to get creative and see if the seller would be interested in seller financing at a lower rate than market.

Chris, thank you for sharing this. As a broker, have you seen the mindset of sellers change to reflect the change in the market willing or forced to change?

As prices drop but mortgage interest rates rise, an assumable mortgage could be viewed as an asset.

0 Votes

Denver, Colorado

If your looking for 4-units or above. Let me know!

0 Votes

Denver, Colorado

Quote from @Cherie Tormey:

Good Morning!

I am looking for a short term rental play in the Colorado area. Targeting the front range: Morrison, Bailey, Indian Hills. I need data on where short term rentals are allowed. I know Jeffco your property must be on an acre or more. Would consider a partnership.

Thanks

Cherie Renee

I've got a large short term rental property ~6MM in Longmont area. Let me know if you'd like details. STR's are allowed.

0 Votes

Denver, Colorado

Quote from @Tom McDermott:

Quote from @Scott Trench:

I've seen a number of prices drop here in Denver over the last quarter or so. We are definitely seeing the market soften. Time will tell how things play out.

Scott, thanks for the confirmation. I hope this will allow me and other newbies to potentially enter the market with some creativity and not just "best and final" over asking price.

1 Vote

Denver, Colorado

Invest in yourself!

0 Votes

The market is very uncertain now. I would put it in Treasury Bills and conservative mutual fund investments.

Thanks!

Chris Mitton

2 Votes

Upstate New York, New York

Awesome job! Colorado Springs is still ripe!

0 Votes

Colorado Springs, Colorado

All Forum Posts by: Chris Mitton

Chris Mitton has started 1 posts and replied 12 times.

Post: Tenant access Issues

Post: Denver market softening?

Post: Completely new to REI, Quitting career, looking for advice.

Post: Denver market softening?

Post: Expanding Network in Denver

Post: Researching my next play which I feel should be short term rental

Post: Denver market softening?

Post: Completely new to REI, Quitting career, looking for advice.

Post: No idea where to put my money!

Post: Over out of state investing? Bringing the Capital back to Springs