All Forum Posts by: Adam Kroll

Another barrier in Boulder is the short term rental laws. We're trying to get this changed, but the hotel industry is fighting a well orchestrated battle to keep the laws as is.

@Account Closed, I'm very interested in how you refine your system! 

@Account Closed

@Bill S., I can see your confusion on the sub $100k mobile homes (not real estate - personal property).  I honestly forgot that I mentioned that, because that is not the focus of my business.  So you don't think I was trying to do a bait and switch, I've pasted a link to a mobile home for sale in Boulder for $40k.  I have never used this business model, but I don't see why it wouldn't work.  I am trying to spark creativity here to see the possibilities.

https://boulder.craigslist.org/reo/5460498863.html

@Bill S., I do not appreciate your comments about my reputation.  If you read through the entire thread, I addressed the Boulder properties separately.  The conversation had progressed to Denver via questions from people who are participating in the thread and I am responding to the thread as questions crop up.  There are mostly seasoned investors on this thread, so your comment about "trolling for buyers" is completely invalid.  I think you need to read through an entire thread before making such slanderous comments and damaging YOUR reputation.

I am speaking of north of Denver.  Westminster/Federal Heights.  There are several condos in Federal Heights that should be hitting the market come springtime for under $100k.  There are houses to be had in Westminster for $200k.  There is an expired tri-plex in Commerce City for under $200k that the sellers are willing to entertain offers.  I was not saying you were throwing in the towel, but I was just feeling a lot of negativity from this thread and I wanted to focus on the positive.

On a condo, I would not pay a PM.  In Boulder (ask any buy/hold investor in Boulder), the vacancy rate is 0.00% or you're doing something wrong.  Most maintenance can be handled through the PM for the complex and renting is straightforward.  There are condos that pop up in the sub $300k that will rent for around $2k.  The cashflow may not be as good as you can get elsewhere, but the appreciation has more than compensated for that.

While a turnkey buy/hold may not help the housing situation, improving a unit/building does as a forced appreciation on the front end of a buy/hold increases the quality housing options for our renters.

@Jon Holdman, to say you cannot find buy/holds in Boulder is not fair.  There are condos in Boulder that can produce positive cashflow.  There are also creative ways to work within the existing zoning to maximize highest and best use.  There is NOT a cashflowing real estate property that will cashflow, but there are some manufactured homes (personal property, not real estate property) that can be purchased under $100k.  While I haven't run the numbers on these, I'd be surprised to find that they don't cashflow.

@Dee M., yes there are some very run down homes/buildings in the Denver Metro, but there are homes under $200k that do not need significant work.

Everyone, I know it is hard to find deals right now.  They ARE out there, you just have to be diligent about looking every day.  When you throw in the towel and say there is nothing out there, you lose the most important part of real estate investing - the creativity and drive to make deals happen that HELP OUR COMMUNITY with much needed quality housing.

I didn't realize.  Well, good luck with this one.  Let me know how it turns out.

If you'd like to PM me the address, I can try to look it up through the MLS County records system and get you my findings. Please include your email address.

I wish i could give credit to this quote, because it is a great one: "some people seem to be at the right place at the right time all the time, but in reality, they are in the right place ALL of the time for when the time is right." There is inventory in the sub-$100k that would work as good rentals in Federal Heights (only one on MLS now, but I know a few coming on the market this spring). There are definitely sub-$200k properties to be found in and around Denver (currently just over 100 listings in MLS within 10 miles of LoDo).