All Forum Posts by: Jamie Salyer

Russel, so nice of you to pull up the comps! I have seen many of those, all at least on-line. Spoke to the brokers.  The garage is an issue. People in Colorado don't want to have to deal with the snow but also we have lots of toys; expensive bikes, skis etc. I installed a big and very nice shed in the backyard to deal with the second issue. 

The feedback has been incredible. They rave about the remodel...it is beautiful. I've been a broker for 18 years so I know brokers can be super honest and I always get their input and trust it. The feedback has been the garage. 

Thanks Russel!!

Thank you SO much Marcus. I love your message, if I can get the financing that pays off the Hard Money loan (80% ltv) that this sounds ideal. much better than a firesale. 

It IS really beautiful, I will say that. The feedback from showings has been incredibly positive in that regard. Its also professionally done and permitted. 

Thanks Stu...I sent you my email :)

Russel: 3226 S Flamingo Way Denver 

I'd love any input!! or any buyers 

Bruce Woodruff, thank you so much for that encouragement. Cut my losses and and to bigger and better pastures. :)

I think STR would work by the re-fi is looking tricky because I'm not longer at 75%

Ha, true! I have definitely learned how important time lines are and many other lessons. 

Just to be clear, I do not thing that the Denver market is going down. It has just cooled, slowed a bit. It could be the season. But the average DOM is 11 days, I'm on day 12. My main market, the Vail Valley, really slows this time of year too. 

Thank you!

That is a great idea Kevin. Thank you! I'm not familiar with ibuyer, but I will look into right away. If the appraisal doesn't come in like it did 6 months ago, I won' t able to re-fi unless I can find a lender that will do something better than 75% of the value of the home. 

Have you noticed things slowing down in Denver in the past month?

Thanks Jimmy! I really appreciate your response. 6 months ago we could have gotten $666k, but the comps I am seeing are below that now, unfortunately. Therein lies my problem. Yes to Zillow...The house is only 1204 square feet, so the $2500 seems accurate for rent. 

Hello! Thanks in advance for reading, this is my first flip as the owner in 10 years (many more as a broker).

Due to a number of hurdles, my flip in South Denver (University Hills) took a 2.5 months longer than planned and about 10k over budget. October 1 kicks in the 7th month with our hard money loan and the mortgage goes way up. It has only been on the market 12 days but the Denver market has cooled slightly and I'm starting to look at my options (and feeling a bit scared.) 

The remodel is absolutely beautiful! We converted the 1 car garage into a primary bedroom suite, upgrading it from a 2/1 to a 3 bedroom 2 bath. Because of building codes that we didn't know about, we were un-able to get permitting to build a new garage or carport. This has been the biggest feedback issue from the people who have seen the house...they want a garage.

I need to payoff the Hard money lender -$500k

Originally the ARV was (appraised) $670k but its cooled and is more like $625

I used the rental calculator - $2500

I do not want to pay Nov. 1 mortgage with the increased interest, so if we don't have an offer by Oct. 1 I'm thinking we should rent. Unfortunately, to re-fi at 75% of the amount of the value of the home, the numbers don't seem to work. 

Any suggestions?? Thank you SO much!!!