All Forum Posts by: Derek Scruggs

Hi all, I'm under contract for a rental property in Denver and need an inspection. If you have an inspector you've worked with in the past and like his/her work, please post a recommendation or PM me. 

Thanks!

I just closed a deal with Merchants Mortgage and it was a very smooth process. Good rates compared to a lot of hard money lenders.

@Elbert D. I used to live in Chicago (love that city!) but Denver is pretty awesome as well. Finding rentals here that make financial sense is really difficult. I'm focusing on fix & flip for the near term (also insanely competitive in Denver, but it is doable) but eventually will start buying rentals out of state. I hadn't really thought of Chicago but if the numbers work I'd be interested. More likely I'll focus somewhere in the southeast because I have family there.

@Alex Babayev thanks for sharing, this is great stuff.

Have you looked at using hard money lenders? I just closed a transaction in 14 days, including inspection and appraisal. I waived other provisions though.

@Andrew Johnson Good point. The properties currently are grossing $1800, and all the tenants have been there at least five years. I think with $10-12K improvements they would easily gross $2,700 if I rent all three. But if I live in one that goes down to $1,800, which would cover the mortgage but not much more.

I'm looking at a deal to buy a triplex in Denver. Based on local cap rates it's nothing special, but if I took one unit for myself and rented out the other two via AirBnB, it would pay the mortgage and kick off 4-600 dollars in free cash every month.

I'm basing the analysis on $70/night for 20 days a month. The neighborhood average for a full unit (i.e. not a spare bedroom) the neighborhood is well over $100.

Hi All,

I have a property under contract in Colorado Springs that I plan to rehab and sell. I don't know that market well (I live in Denver) and could use a good agent to make sure my ARV estimates are reasonable, and handle the sale after rehab.

I also need a home inspection and possibly a termite inspection.

Time is of the essence - I'm closing on May 8.

I will be a the house today at noon. If you happen to be free around that time, send me a DM to coordinate.

Thanks!

Derek

Hey @Jason Bott I'd love a copy of the insurance info as well. Thanks!

Have you spoken with the folks at CasaCol Medellin? They've built a few high rises in the last few years, typically financed by pre-sells. I can connect you with a couple of folks there if you want their feedback.

Welcome Ben! I've thought about investing in manufactured homes as well but haven't taken time to learn much about it.