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All Forum Posts by: Dave Katz

Dave Katz has started 7 posts and replied 19 times.

Post: Looking to build ADU in Fort Collins, contractor or prefab advice

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

Aimee-

What is the zoning? 

Post: Cash buyer discounts?

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

What us the asset? SFR? Multi-Family? Commercial?

Is the the property listed or off market?

How long has it been on the market?

What is the price point?

What is the Seller's situation?

For a listed SFR under 400k, I wouldn't expect much of a discount, you may be lucky enough to win the contract.

I'm in Fort Collins.  Feel free to PM me and schedule a call

Post: Back in the Office and Charged Up!

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

I first want to acknowledge the pain and tragedy that millions have suffered worldwide from the sudden loss of friends and family due to Covid-19. No one could have been completely prepared for what we are experiencing globally. By no means is this post intend to be insensitive; I simply prefer to focus on the positive. As businesses were ordered to shutter doors I reached out to a few local small-business owners and one of them said something to me that has become my anthem during this pandemic. He said, “Bummed about a few things, but grateful for a whole lot more.”

As I heard some folks talk about finding the “Silver Lining,” I would shy away from the conversation in guilt. “Maybe I’m enjoying this break a little too much” I thought. To be completely transparent, my business sucked for the better part of two months, but I didn’t stress about it like I usually would. I was grateful for the time at home with my wife and two beautiful daughters. It was a sobering reminder of how little time we spend with them during the work week. I embraced it. I reveled in it. I really enjoyed the slower pace of life.

Fat forward to about 3 weeks ago. Our office was open at a limited basis, and as the rest of the state of Colorado started to wake from hibernation, business started top pick up. But it wasn’t the external activity that surprised me, it was the internal charge I feel. It drives me to push hard at work daily. It has allowed me to propel even farther out of my comfort zone. I feel “jacked” and wish I could bottle it. The momentum feels good and I want to go faster. It doesn’t feel like a pace that is burning me out, it feels good and refreshing. I hope it lasts.

Is anyone else feeling exponentially charge up after the global shut down?

I would love to hear others experience.

Post: Off-market Multi-Family Properties in Northern Colorado

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

@Patrick Soukup -

I'll PM you, let's connect.  Some CAPS are at market, but some are certainly low.  I have an opinion that cap rates are not the end all underwriting metric, and they have likely discouraged many investors from great deals.

Post: Off-market Multi-Family Properties in Northern Colorado

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

I turn over 3-4 off-market multi-family properties every month in Northern Colorado, including Fort Collins, Loveland, & Greeley.  Please connect with me and we can schedule a call to see if any of these fit your criteria, to add you to my Buyer list, and/or to simply connect and talk about Multi-family real estate in our area.

Post: Cash flow = NEGATIVE $2,000 per month

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

@Adam Knickelbein I think @Steve K. is steering you on the right path. I am a commercial broker focusing on MF property in Northern Colorado. I currently have a client under contract on an off market 6-unit building in Greeley. It's a legitimate 7%+ Cap and will produce 10% COC with current rents, not proforma. But please note this performance is extremely rare. Instead of chasing a specific yield, I would examine your long term goals, and evaluate how much you want to invest into you first MF deal. Most investors want to dip their toes into a 4-unit which is a great pace to start. However I feel in MF, the bigger the deal (#of units,) the less risk. My 2-cents. Hope this helps.

Post: Questions to ask Seller in Bankruptcy

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

very helpful @Robert Davidson.  Can I ask, what is Motion for Relief of Stay and automatic bankruptcy stay mean?

Post: Questions to ask Seller in Bankruptcy

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

I have a meeting with a very motivated seller on Thursday who filed for bankruptcy in January.  Before I can analyze this deal I feel like I need more info, and need authorization to talk to seller's lender and BK trustee.  What should I find out from this meeting?

What I know:  

We are in Colorado

Seller  said she is 4 months behind on payments, but i don't see an NED filed on county public trustee site.

I know she has a BK attorney 

Her principle balance is around 162k, but do not believe this is final payoff

My desktop evaluation of the house is 180-185k

What I don't know:

What type of BK she has filed

If the BK trustee is requiring the sale or not

Does the bank have any say in price i.e. short sale, or just the trustee?

Any advice is appreciated.

Kindly,

Dave

Post: Northern Colorado

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

Andy-

I am RE broker in Fort Collins and I do a little wholesaling as well.

I agree with everything Blake and Mark have said above. Give me a call when you get to town and we can grab some coffee (or beer).

Dave

Post: How to put a 2nd DOT on a home?

Dave KatzPosted
  • Real Estate Broker
  • Fort Collins, CO
  • Posts 20
  • Votes 4

I am wholesaling a deal in Boulder Cty Colorado and the Buyer wants to give me a portion of the assignment up front, but give me the rest after he rehabs and closes on the final sale to owner occupant. He suggested recording a 2nd DOT on the property, with his private lender holding the first for about 65% ARV. What do y'all think? How would i structure this?

Thanks in advance