All Forum Posts by: Tara Hall

Welcome to Bigger Pockets @David Hartmann ! Thank you for your service.

Welcome @Nathan Hamilton ! I think the best way to learn is to jump in, so it sounds like you're well on your way.

Thanks everyone for your input!

@Ron Drake Yes he wants to sell it, but he hasn't thought about the price too much.  He did mention he was thinking around $200K, but I told him that was high considering the neighborhood and small square footage...which is where subdividing the lot and developing the other parcel came into the conversation.  He is looking for close to market value and not a low-ball offer.

@Brian K. the property taxes are actually paid in full.  I used agentpro247.com for the list and I've found a few of the properties listed as being delinquent are actually paid in full, so their list wasn't the most accurate.  It got me the contact though :)

Hey BPers!  I sent out postcards last week for absentee owners in Denver who were late on their property taxes and I received a call from one guy today who has what seems to be an interesting property, so figured I'd throw it out there and see what you all think.

The owner bought the property in August for $99K and he's put about $40K into it (new roof, new deck, new heater, etc.). It's a 2bd/1ba 750 sq. ft. single-family home on W. Iliff Ave. in SW Denver. It's a tiny house, but it sits on a big lot (.4 acre) so I'm thinking it would be a good buy/hold property for someone looking to rent it out or for potential land development if the parcel of land were subdivided. I looked at what comps I could find, but I don't currently have access to the MLS so these numbers might not be totally accurate ($1000-$1200 for rental or $120K-$150K for sale). Factoring in the lot size and potential land development though, I think he's expecting a higher price....and the fact he's already put $140K into the house. The owner is still finishing up the repairs he started and is planning on selling early next year. He was originally going to move into it, but his plans have changed and he said his money is tied up in another property.

That's all I have for now, but he was very personable and easy to talk to...just wondering if it's worth pursuing?  Thoughts?  Advice?  I'd be interested in passing it off as a potential wholesale deal or partnering somehow with another investor to learn the ropes since this would be my first deal.  

Thanks!

Hi @Mario Davis 

Welcome to BP, it's a great place to get started. I used to live in OKC and Norman, BOOMER! I suggest listening to the podcasts and setting up keyword alerts for what you're interested in. Good luck!

Welcome to BP @Gay Lloyd ! This is a great spot to get connected.

Bummed I missed the last one....I'll definitely be there!

Welcome @Jeff O'Neal ! BP is a great resource for info and connections. I'd suggest hitting up the podcasts and setting up keyword alerts for what you're interested in.