All Forum Posts by: Dane Hutchins

Our credit is excellent, but being self-employed, we can't document our current level of income for more than just the last year.  Our lender wants us to document for the past two years, so now is asking for a cosigner.  We have 3-4 relatives we can approach.  Should we offer an incentive of some sort?  If we were to offer, say 10% equity, does that mean 10% of monthly net income plus 10% of the proceeds if we eventually sell the place?  

We have a successful rental property that started from a fix & hold in the Denver area. We want to duplicate our existing model into several additional properties, one at a time. Is it practical or effective to combine passive investor funds with hard money to get the next deal up & running? Our plan is to find fixer properties so we can add value, using the BRRRR strategy. Is this workable? See any potential "gotcha"s with our game plan? How would we process the passive funding aspect?

Seeking private funds to purchase discounted, multifamily properties and adding value, to be used as rentals.  We have a successful working model and wish to expand. Work on a single purchase or join us for long term expansion.
Many thanks,

Investment Info:

Single-family residence buy & hold investment.

Added value by painting entire interior, installing central a/c, completely finishing basement, adding bedroom, bathroom, living room and lockable storage area.

What made you interested in investing in this type of deal?

Renting rooms to roommates and renting finished basement as Airbnb apartment.

If you know or learn of potential discounted MF properties within 10-15 miles of DTC, let us know. Particularly interested in wholesaler deals you have under contract. Otherwise, if readers know of vacant or distressed properties, please contact us. We'll pay a healthy spiff if we purchase your referred property.
Many thanks,
Dane and Rita Hutchins, [email protected]

My wife and I are now operating our 2nd Airbnb, this one in the Denver area. We're doing well enough that we're planning several others. We have a network of wholesalers looking for discounted properties in key areas and we're lining up private money partners. Hold on to your hats!!

My wife and I are intending to purchase a triplex or fourplex in southern CA.  We'll first sell our home in the Denver area and use the proceeds as DP with as much down as possible to keep payments low.  We've asked our Denver property manager to give a 30-day notice to the tenants. The rental agreement is an annual contract through June 30th without purchase option.  The PM wants to be considerate to the tenants, who love the home and have paid their bills regularly and have treated our property very well for three years. He suggests the tenants may be able to qualify to buy the place.  We've asked him to present the 30-day notice now and we'll be open to discussions as they prepare to move out.  The housing market in Denver really jumps up starting in early June and peaks by mid-July and we're needing top competitive bids on the Denver home in order to purchase our new property in socal.  Does anyone have creative ideas on how we can accomplish our purchase and hopefully help the tenants stay?  I'm concerned that if we take the time for them to qualify and obtain a loan, we'll miss the peak selling period there and negatively impact our socal purchase.  Your thoughts or ideas would be appreciated.  

Hi Todd,

We are Dane & Rita Hutchins, BP Pro investors in Orange County, CA. Property prices here are considerably higher than in much of the country, but there are still deals to be made. We haven't found just-the-right property yet, but we're looking for 3 or 4-plex homes here in Orange County. We're probably talking 750-850K purchase price, with unit rents for around $1800 each. We currently own a SFR rental home in the Denver area, which is leased out through June. We intend to sell that home in early July (when the local R.E. market hits its peak every year) and take about $160K in equity to use as a DP. We will live in one unit and rent the others. Is this something that could work under your system? Your thoughts? Please send PM.

Seeking multiple SFR or small MFR properties in the Detroit area. Would like to find fix, hold & rent homes, 3 bdrms, 2 baths, or 2 bdrms with larger sq ft, so I can add value by adding a 3rd bdrm. Needs to be in Class B, stable and safe neighborhoods. Building a team in the detroit area and seeking a rockstar agent, PM, contractors. Contact me any time via email. Will respond quickly.

Hi.  Still have Detroit properties available?  Please contact me with details.