All Forum Posts by: Irvin Ricano

I’m actively looking for deals around my neighborhood and I found a dilapidated property that has potential. How do you find more information on a property that is off market. I am on the tax assessment system but I cant find the amount of units, beds and baths. I does show sqft, zoning, year built, etc. How do you go about figuring that out. I have contacted the seller but they aren’t interested in selling. I wanted to make sure it was a good deal before I tried to convince them to sell.

@Matt M. @Matt M. Thank you for the reply. I am not to familiar with hard money lenders. I have done conventional loans. I purchased a remodeled duplex as my first real estate venture. After that, I did a cash-out refinance to do a remodel. This one I'd like to do a HELOC but I know at some point I will need to get comfortable using a hard money lender. I'd just prefer a HELOC since I have the equity and it's is safer for me financially. Thank you for the reference. Where could I find your business information? Thank you.

Thank you for the response Karen Margrave. I owe 300k. House is worth in the upper 500k. Have not had an appraisal to confirm but have had a seasoned realtor give me his thoughts. Properties with ADU's appraise around 700k to 800k. Construction would be about $180k. Rents for a 1bed 1 bath start at $1300 in Denver. Unfortunately, since I am a new investor banks aren't comfortable lending to me so easily.

Good evening bigger pockets community,

I am in Denver, CO. I am looking for a bank that works well with new investors. I have an ADU project I am trying to fund. Looking for a HELOC or potentially a construction loan. Haven't had to much luck with banks that I have found. I already have budget and GC just need capital. Any recommendation to any banks that are new-investor friendly. Preferably in Denver but cant be to picky since I am just starting. Thank you for your input.

Looking for a framer that has experience in remodel. I am running into a lot of new home framers that I feel like are over charging because they don’t know what there getting into. Any adviser on finding one. Thanks.

This may not be relevant but I am looking for a room mate, would any if these tips apply to the situation. Anyone have a roommate agreement template I can use or do I even need one? This is my duplex that I am currently renting. Any other things I should watch out for? Thank you for reading. 

So I have about 5k. I had to replace the roof recently and that set me back 7k. I have about 10k in equity but that isn’t enough to pull out. My duplex has already been remodeled so I can really do any repairs to increase the equity a whole lot. 

Thank you James Wise. I will do my best. As of now I am looking into other sources of income to raise money faster. 

Good evening my fellow real estate investors.

My name is Irvin and I am a fairly new real estate investor. I recently bought a duplex that I am currently house hacking. My next real estate adventure is to by a quadplex. I wanted some opinions on how to fund this new quadplex.  The way I funded my duplex was by the equity I built from my previous home. Unfortunately I used all my fund to purchase this duplex so as of now I don't have a lot of funds for a down payment on a quadplex. The home had already been remolded so I could not do any major repairs to raise value and pull cash out. At the moment I would like to fund this project on my own if possible. A partner ship is my last resort only because I have had bad experiences with them. Any ideas? Thank you all for spending a moment out of your day to help me on my new adventure. 

Your friendly neighborhood real estate investor,

Irvin Ricano