All Forum Posts by: Denise Grez

Hello Mathew!

I am in the same boat. I am always looking to connect and network with people in Northern Colorado. My spouse and I have a 4-plex in Loveland that we live in. There have many challenges but we learn as we go along.

Denise 

Yes we are house hacking. We live in one unit and working on renovating to increase our appraisal for a cash out refinance to fund the next deal!

Forrest, thank you for your advice. I was not aware of the C1-C3 categories. I will do more research on that. There are not a ton of units in the area that have recently sold or recently been updated so it is a difficult unit to appraise. The countertops were professionally done with an epoxy so it safe and looks almost like a granite. Thanks again for your comments.

I meant $745,000 which is a pretty good deal for the area.

My husband and I just purchased our first 4 plex in Loveland, Colorado. We want to renovate the units ourselves to get a cash out refinance. We have currently renovated 2 units and one more to go. We decided to try to make the renovation as inexpensive as possible. We painted the cabinets instead of replacing them. We hired someone to paint the countertops. We replaced the flooring, carpet and removed the popcorn ceilings. We spent about 18,000 for the renovation for each unit for everything. I would like to know your thoughts to get the highest appraisal. We want a balance between getting a high appraisal and forced appreciation without over improving.  Although I am happy with the finished product, I feel like we could have done more to increase the appeal. What are your thoughts for making improvements for getting the highest appraisal for the lowest price? 

Before the renovation

After the renovation

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Loveland.

Purchase price: $745
Cash invested: $100,000

My husband and I purchased a 4 units with 2 bed 1 bath located in Loveland. We are intending to rehab and increase the rents for better cashflow.

I am a new investor in Colorado. Please add me to your forum as I would love to know what others are doing in our community.