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All Forum Posts by: Jamie Salyer

Jamie Salyer has started 11 posts and replied 52 times.

Post: Buy Hold Sell in Colorado Mountains

Jamie SalyerPosted
  • Real Estate Broker
  • Posts 60
  • Votes 19

Investment Info:

Single-family residence buy & hold investment in Gypsum.

Purchase price: $215,000
Cash invested: $40,000
Sale price: $465,000

We got this home as a bank owned property that buyers were turned off by because the long, gravel drive way was in bad shape. It scared people away but in the end only cost $2000 to remedy.

What made you interested in investing in this type of deal?

The investor knew that the drive-way could be easily fixed. Other buyers were being warned not to drive up the hill, but to walk.

How did you find this deal and how did you negotiate it?

MLS. Actually bid over list price because there was one other investor and the bank had priced it far below market value because of the driveway.

How did you finance this deal?

Traditional loan

How did you add value to the deal?

Fixed the driveway and added a bedroom. Also made the whole home beautiful.

What was the outcome?

The home was rented out for 4 years and sold for over $200k profit.

Lessons learned? Challenges?

Big scary obstacles are not always, truly that big...or scary.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a real estate broker and I listed it in the MLS for the end sale.

Post: Flipping in the Vail Valley

Jamie SalyerPosted
  • Real Estate Broker
  • Posts 60
  • Votes 19

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $415,000
Cash invested: $60,000
Sale price: $639,000

There are so many opportunities to flip in the Vail Valley even-though there is an urban myth that you can not. The great part is that the competition is low compared to big cities.

What made you interested in investing in this type of deal?

It is located in an up and coming area and the ARV would still be in an very sought after price range.

How did you find this deal and how did you negotiate it?

I am a real estate broker and spotted it on the MLS

How did you finance this deal?

The buyer used a hard money lender

How did you add value to the deal?

The bedroom in the basement did not have a egress window and so it was not legal and could not be advertised as a 4 bedroom. We added the egress and under $1500 and poof...now its a 4 bedroom.

What was the outcome?

Sold for a huge profit to a happy buyer

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm a real estate broker, I listed it in the MLS to sell and actually another real estate broker bought the home for herself.