All Forum Posts by: Jamie Salyer

@Jake Sklanka Well said. I live in the Vail Valley and we too were watching closely to what happened in Breckenridge. Now, with a limited count of STR, those rents will likely increase when there is less to choose from. It seems like a great place to be in as a current owner with STR license.

Hi- Can you recommend a lender to re-fi my property out of a hard money loan and into a rental. The key is I need 80% loan to value in order to pay off the hard money loan. 

I'm in Colorado (if that matters.)

Thanks so much for your help! 

Candice De

It is so great to hear from you! And thank you for the compliment, I do agree, the remodel was amazing. I ended up dropping the price (as you probably saw) and we got it under-contract. As soon as it sells I'll be looking for another in the area but I live and do real estate primarily in the Vail Valley. I'd love to stay in touch....we have so much in common. 

What was your grandmas address? Id love to look it up. 

J Scott  Thank you for that!! 

Its not the right one for rentals? Ok, I got it off of a post here on BP. Do you have another for rentals?

Question...

If this (below) formula is for Brrrr.....what formula do you like for flips?

(After Repair Value X 0.75) – Repairs = Maximum Purchase Price

Thanks!

Questions...

If this formula is for Brrrr.....do you use a different one for flips?

(After Repair Value X 0.75) – Repairs = Maximum Purchase Price

Thanks!

Hi Brandon, I live in a mountain valley near a very high-end ski resort so real estate and rents are very high. We have a shortage for lower priced rentals that ADU's can take care of so must towns and HOA's allow them in this area. It is most common here to build a 1 bedroom apartment of top of the already existing garage. In my neighborhood with an HOA and covenants, they do require the board to review the plans but almost always pass and require that there is an additional place for the "renter to be" to park.

I wonder if you have the same issue in Florida? 

I think it is an amazing way to house hack. homes in our valley that have Lock-offs (as we call them) sell for at least $100k for than those that don't.

Hello BP'ers 

I'd love to hear from GC's in Denver who have experience with flips. Or any of you who are willing to share your GC. Or perhaps other ideas on how to find a good GC with flip experience. 

Thanks in advance!!

Thanks for the great vote of confidence and encouragement David Arsene!! I really appreciate it and I'm sure you are right. 

It hasn't discouraged me though...I'm eager to start anew with my next project after this sells. 

In regards to the Garage issue, I have learned a couple HUGE lessons here that I will post in case it helps others. As a long term broker I know not having a garage just means you have to price it lower and/or it will take longer to sell.  One of my huge lessons is that we bought it with the plan of building a garage, comped it that way and trusted that the GC knew Denvers codes. I am the kind of person who takes accountability, so I'll just say with such a big item, I should have made sure it would not be a problem with permitting. I will always check codes etc myself in the future until I have a GC that I have a very solid relationship with. LESSON LEARNED :)

With that said, I am looking for a GC in Denver.