All Forum Posts by: Dorothy Ma

I would speak to an architect. In Denver, zoning changes are very difficult and require a hearing process that could take up to a year, but you can get with the city and planning office to have a concept discussion and get a good idea of how likely it is.  

Definitely depends on site location. When you say metal building, do you mean the prefab type or do you mean steel frame as opposed to stick frame?  what about foundation? I would recommend rsmeans online, you can do a free trial and its what the pros use for estimating figures.

@Brian Plowman, what is your city jurisdiction like? Have you built a building in that jurisdiction before?  I would highly recommend you speak to local architects, since each jurisdiction have different zoning and building codes.  For example, here in Denver, the zoning department is very strict and the city has their own amends to the IRC and IBC codes that are used.  It would be very difficult to use a generic plan because there are site specific restrictions, setbacks, bulk planes, etc in Denver.

Even if you purchase a generic plan on some website, it will most likely need to be edited and revised, and Denver requires an architect's or engineer's stamp for most new builds anyway when you go for permit.

If you are looking to save money, I would make sure when you talk to architects or designers that you are asking for a limited service of just producing the plan, etc, rather than full service, which would require multiple meetings, multiple design document deliveries, and possibly construction adminstration.

If you would like to explore yourself, I would highly recommend Sketchup.  It's a very intuitive design tool, easy to learn, and quick to put together 3D models that can be exported as 2D preliminary and schematic plans.

@Bill Florence, I would love to connect and see how we can help each other.  I am also an active investor, realtor, and architect working on investment projects in Denver.

@Mitch Ottoson definitely happy to help! I'll be at the meetup tonight as well if you're planning on going.

I own a fourplex and I cannot get it rented fast enough.  I think it mainly has to do with location since it's central to Denver near Sloan's Lake.  However, I have had people who need wheel chair accessible buildings view my units because the fourplex is a ranch whereas most apartment buildings are multi-story.  Also, our fourplex is on a large lot so one of my tenants owns multiple vehicles and what appealed to them was the additional parking spaces available that was not an option with their previous apartment building.

Steven - we were in the same situation, we owned too many investment properties and our lender wouldn't do a cash out refi- what we ended up doing was do a cash out refi 15yr with a bank that portfolio their loans, then refi again right away 30 yr with our lender.  We had our closing costs covered by the lender for one of them, so we only paid closing costs one time.  

Also, in terms of what to do with your property - because you are out of town, I would consider the age and condition of the property.  Do you currently pay a property manager? The thing about owning rentals is something always needs to get fixed, even if you don't expect it. :)  I definitely run into this issue with my 12+ tenants. It never ends.

Hi Bryant,

I have completed a dozen fix and flips in Denver in the last two years so I'd love to help answer any questions you may have! 

Paul,

I own several SFR and multi-family units (2-4 units) in Denver. As Dan and Jean mentioned, they are hard to come by. However, that doesn't mean they don't exist. There are some great areas on the outskirts of the up and coming neighborhoods of Highlands, Sloan's Lake where you can still get a decent SFR that's very close to downtown Denver and all the amenities, but you don't have to pay the prices. I'm happy to share where my rentals are, what they are cash flowing, and what locations to look!

Todd, welcome! you should come to our Meetup tomorrow if you are available.