All Forum Posts by: Gregory Flores, Jr.

Gross rents look great for the price. Are all the rent and expense numbers verified? Would you have to spend cash up front to improve any of the units? How long are the current commercialand residential leases in place for, if there are any in place at all?

Knowing the answers to these questions will help everyone weigh in with more suggestions. 

Really great suggestions here. May just have have to knock on that door and fumble through the interaction. Great strategy mentioned by @Jon Johnson on helping the owner find a rental. Did you get in touch with the bank for the paydown after approaching the seller?

@Wayne Brooks, if that’s the case then the title information available via the auction indicates plenty of equity. The plan would be to buy, do a little rehab, and flip the property since a recent sale just went for $415k (100% asking) up the block. The comp has a finished basement, so thats what would have to be added to this property.

I’ll be sure to check in on local laws...don’t want to end up with fines on my first potential deal @Jay (won’t tag for some reason).

Also, how should we handle financing on this? My fiancé argues that the financing should be in place before we even talk to the owner or bank (without knowing paydown, what’s due, what the owner would take), while I’m arguing that we should see if a deal can even be made first, since “money will find the deal”.

Hi everyone! I’ve found a property within a mile of my current live-in duplex, and have been reading up on the auction process and timeline this past week. I️ want to see if there was a way to make a deal out of this situation and help the owner avoid this event. What would you say is the best way to approach a homeowner before the foreclosure auction? Has the owner’s credit already been impacted since the auction has a set date? I’m at the point where I️ May try to leave a handwritten note on the door. What questions do you ask to find out the pain-points? What question gets people to divulge their equity position (especially as they face foreclosure)?

Jeremy Lea the trip was eye opening. Got a feel for several different neighborhoods like Mesa junction, Eagle Ridge, and Bessemer, which had pockets of well maintained blocks. I️ wouldn’t have thought I was in Pueblo. Right around the riverwalk, businesses are popping up and seemingly doing well. I️ met Robert Herrera at the Brues Alehouse which was a great meeting spot with a diverse crowd. Plenty of older homes around. A lot of warehouse space and vacant plots that could be bought strategically. Lots of buy and hold opportunities. Some neighborhoods are wary of becoming majority tenants, so I’d think about ways to keep people in place long term to encourage them becoming part of the community.

Pro is worth it for the unlimited BP calculator uses, and the ability to advertise your business with each of your posts. Best decision, and investment in myself, a week ago. 

One method is to take over the mortgage payments while it stays in the sellers name in a subject-to transaction.

Same reasons mentioned above for me, although it has been done: https://www.google.com/amp/s/futurism.com/bitcoin-was-just-used-to-pay-for-a-new-home-in-texas/amp/

Active investing involves a lot of turnover in your assets, buying and selling many times a year. Passive investors are buy and hold long term.

@Jeremy Swathwood and @Rick Watt, would it make sense to start a local meet up on this side of Aurora? Seems like we all live pretty close within the proximity of Parker Rd. 

I'm trying to become more active locally, and am looking to farm off-market/foreclosure flips in Aurora to fund a BARRR strategy in Pueblo. 

Is anyone local going to the foreclosure auction on Wednesday, November 29th? I'm interested in going, and it would be the first auction I've attended. 

What should I be prepared for at these auctions? Is there anything in particular about the auction process in Arapahoe County that I should be aware of? Any guidance is appreciated.