All Forum Posts by: Gavin E.

Flippers, wholesalers, and BRRR investors, what range do you pay for a good seller lead? What about a marginal lead? A poor lead?

Do you consider a "driving for dollars" lead to be a good, marginal, or poor lead?

@Jake Adams. @Bill S. is correct to say you should make sure this is allowed by zoning and that the structure can handle the load.

Why wouldn't the addition be valued in terms or ROI or cash-on-cash just like a normal SFR investment? This is how I would do it. You're basically creating a rental property by adding the living space above the garage so I would analyze on it's own to see if the investment on this portion of the property is justifiable by itself and meets the return you expect from your regular SFR investments.

FYI: https://www.airdna.co/rentalizer may be helpful for determining the AirBnB income you can expect from the property. Don't forget to account for Denver's short term rental fees or a company you may use to manage the short term rentals! 

I've started looking from out-of-state as well but have heard Garland is hard on landlords and requires jumping through hoops to get a CO. I've heard of them requiring things from investors such as grading driveways or "requiring hard-wired, interconnected smoke detectors". Can you confirm?

I'd be interested in your wholesale contacts and would be sure to tell them your referred me.

Hi Levi,

Assuming you don't immediately need the cash, the decision really depends on whether you believe you can get a better $ return selling the house and investing the money elsewhere or keeping the money in the house and benefiting from appreciation of the Denver market. You could also try to 1031 to a different property that cash flows better. It certainly sounds like you should make the decision before your home owner exclusion expires.

Personally, I would look to 1031 to a property that cash flows better or (if you are the rehab/ update type) see if there are improvements I could do to in order to raise rents. 

If you decide to sell I could be interested in buying if there is room for a rehab to force appreciation. 

Nice work. What % did you put down? And was this an off market deal? Was it a BRRR?

I haven't seen this anywhere in Denver and have started looking out of state myself. Though I'd stick around Denver if I could do deals like the one you mentioned.

Thanks @Andy Webb & @Dane Ohlen that's exactly the type of info I was looking for. 

Replacing a drive way and Interconnected smoke detectors. Wow I've never heard of such rental requirements. 

Are there any other nearby cities I should avoid/ where you've heard such restrictive rental requirements exist? i.e. Thoughts on Rockwall or Balch Springs?

I've been hearing a lot about COs in the Dallas forums. What is the concern with them? Do they need to be renewed every time the property transfers ownership or are most Dallas jurisdictions strict on them? CO's have never been an issue for properties in my local Denver market and are hardly even an afterthought. Most properties will just have one unless they are very distressed or a new build.

I'm looking at BRRR-ing in the greater Dallas area specifically east Dallas (Garland/Mesquite area). As an out-of-state investor from Colorado, I'm curious about commonly overlooked rental or rehab expenses?

i.e. I hear Garland/Mesquite inspectors can be pretty strict so budget more for permits etc

Another example may be the local rentals/ rehab market requires updating to double-pane windows. (I don't know if this is true just using it as an example). 

Thanks!

I have other income albeit low at the moment (~$2,000/mo). 

My plan is to flip to a long-term rental. I will refinance after the property is stable and pull my money back out. The "BRRRR strategy" if you will.

Does your company have a service for something like this? Thanks.

I have a deal in which I have have enough cash for the 20% downpayment as well rehab costs. 

However, I need to get financing for the remaining 80% but don't have w-2 income and won't be able to get a conventional mortgage.

Does anyone have small banks/credit unions in the Denver area they've used for getting loans with solid business plans/investment strategies? I'm happy to meet with them and show my numbers. Perhaps a private investor?

What % deal is good enough in your book for buy and hold investing? Where/ what area do you look to find them?