All Forum Posts by: Jesse Park

All, I am under contract for a 2700+ sqft house in Lakewood/Applewood area with a potential for 6 bedrooms for under $460K. Thank you for your help! Now it's time to get my hands dirty.

https://www.biggerpockets.com/...

Check the thread I started a few days ago with a lot of good information from excellent seasoned Denver investors.

I work in Park Hill and pass Commerce City daily. I would not want to live here. There is just so much pollution, and the smell will be unbearable.

@Mike Wilkinson that’s awesome Mike, congrats on getting the value you put in. I don’t have time right now to do a full rehab on a property right now. Taking baby steps. But I hope to do something like that in the future.

@Steven Cobb I'm sure there's extra cost associated with cash out refi, is this worth putting all my cash into one property to avoid PMI of $110/mo for 2-3 years?

@Jeff White

I got an email back from Arvada that I would have to live in the unit as long as there's an ADU. This means I'm locked in to a single location, which I'm not very fond of. Is this pretty easy to avoid if I do decide to fully rent out and look at a different property in the future?

@Chris Lopez I am looking to build an ADU and a MIL suite. Question remains whether its worth spending $200k (estimate based on forums) on an ADU or using that money for a detached property that will appreciate faster. Detached property will surely appreciate faster, but not sure if I can find a property for the same/similar price as ADU. A lot of things to think about, and this is very exciting.

@Craig Curelop

Thank you for enlightening me with the 3 unrelated family rule. I would love to have a detached ADU, and a mother in law suite (basement) in a detached single family property to have 3 separate rentable units. I'm guessing this will fit the term?

@Matt M.Thanks Matt, when you say your clients are retiring in their 30's, what does that mean? Are they actually not doing any work, working for fun without the need for additional income, or are they still managing properties?

Thank you all. I will take your advice to put 5% down and talk to my lender about prepay PMI on a 4-7 bedroom house.

I'm currently renting and I'll probably do some renovation (putting hardwood floors, adding another room, and updating some bathrooms) prior to moving-in. I'm excited to get my hands dirty! I look forward to connecting with you all.

@Jeff White Have you seen new multi-family units between Sloan's Lake and the Bronco's Stadium? New 1300sqft/2bd properties are 530K+! No HOA. What do you think about appreciation in this area and these types of units? I'm looking West Denver like yourself, but Sloan's Lake/Stadium area is developing right now and I see it appreciating significantly in the future when it fully develops. However, I am aware that multi-family units don't appreciate as well as detached SFR.

To be clear, I would purchase A unit in the entire building.