All Forum Posts by: Glenn Gray
Glenn Gray has started 3 posts and replied 35 times.
Post: New Guy from Denver

- Rehabber
- Denver, CO
- Posts 43
- Votes 9
Hi Rob,
I'm actively seeking investments and peers to network with as well. I also intend to use the blended approach of flipping and fix/hold. I'd be more than happy to connect with you to share market views, look for prospects and just discuss strategies. Feel free to connect with me if interested.
Best Regards,
Glenn
Post: Hello from DENVER!

- Rehabber
- Denver, CO
- Posts 43
- Votes 9
Hi Victoria,
Have you begun direct mail marketing yet? What is your ideal prospect and what criteria are you using to define prospect (zip code, public records, equity, etc)?
I'd be more than happy to discuss strategies with you.
Glenn
Post: Intro. from Denver

- Rehabber
- Denver, CO
- Posts 43
- Votes 9
Hi Tom,
I too live in Denver area (Lakewood) and am actively seeking fix/flip and fix/hold strategies as well. I'd like to network with you, if interested. I have prior experience in both strategies, but in the Dallas market. I'm starting fresh again, post divorce, but have money, time and desire to begin investing again. In fact, my current residence (townhouse) I purchased as HUD owner occ. with the intention of fixing then renting after the 1 year occupant restriction is lifted. Hopefully, I can perform the same trick next year, as this one has worked out well for me.
Please respond if you would like to network or simply contact me directly.
Best Regards,
Glenn
Post: Is this a good property investment?

- Rehabber
- Denver, CO
- Posts 43
- Votes 9
Hi Anna,
The repair/maintenance monthly average depends greatly upon the construction and condition. If there is a significant amount of deferred maintenance (roof, utilities, windows, carpet, appliances, plumbing, fixtures, etc), then the repair maintenance budget can sky rocket. Look closely at the condition, and be REALISTIC with what needs attention and what may potentially break. Inspection reports will detail all of this but will cost several $100 for multi-unit, if you rely upon inspector evaluation and you're not able to scope these on your own.
Also, the $572/mo expense for the summarized items may or may not be accurate. Reviewing the sellers books (expense report with invoices) should prove them out. If the seller states they aren't available, it's a warning sign. It indicates the seller is not organized and doesn't keep good records, or is a poor manager. The figure might be "made up" in that case.
All in all, the bottom line shows an annual ROI (return on investment) of approxmiately 10%:
Annual Profit: $4200 ($350 x 12)
Cost to close: $42,800
ROI - $4200 / $42,8000 = 9.8%
That's not all that attractive for what I would consider fairly risky - multi-tenant is higher risk than single fam, in my opinion. I suggest looking for 15% ROI in first year, or higher.
Good Luck,
Glenn
Post: Newbie from Denver area

- Rehabber
- Denver, CO
- Posts 43
- Votes 9
Hi @Kari R.
How's your prospecting going so far? I'm also actively seeking flips but am not finding many deals. There seem to be very few foreclosures coming to market now and prices are steadily rising. I'm hoping some additional networking will create new leads. Feel free to reach out to me if you are interested in comparing notes or combining efforts.
Thanks,
Glenn