All Forum Posts by: Joseph Graeve

Hey @Matt Campbell

Great job finding a duplex. I wish you success with it. I have had a lot of experience flipping and renting in the springs so message me if you're stuck with anything, I have a team of contractors you can use and possibly some investors interested in it. Let me know.

@Sonja Gordon

Thanks for posting! I am currently investing in Denver and Colorado springs. I bought 13 houses last year in Pueblo, Colorado Springs and Denver. and a few more this year. I'm sure we can help each other. And next time you're in Colorado Springs to visit your sister we should meet up, that is where I live. Message me so we can connect.

@Bill S. We should meet up as well and see how we can help each other or just have a beer and talk real estate haha.

Hey @Joseph Conrey

Welcome! I am active duty Air Force and assigned to Colorado Springs. We can definitely help each other out. I would be happy to have a go getter helping me analyze properties and learning from me at the same time.
I bought 13 properties last year and 4 so far this year and have  4 more under contract. My goal is to do 40 deals this year (whether flips lease options or rentals) . So if you would like to be a part of that vision with me and learn as well I'd be happy to include you (and anyone else who would like to invest or learn).

And when you're out of the Navy you will already have extensive knowledge of Colorado investing so you can hit the ground running here. Go ahead and send me a message for my contact info. Look forward to talking with you.

I have a great contractor i use for all of my flips. Lowest prices around and the most integrity I've seen in a contractor. His name is Mark schoning. Message me for info 

Yes I have had success. Its all about finding a motivated enough seller. As long as you explain it the right way and how they are still protected and you are solving their needs, they should be okay with the sandwich. I have even done a seller financing from the seller and lease option to a lease option tenant. And lastly ive done this model a few times, lease option from seller for 4 months, renovate, sell and then execute your option to buy and keep the difference. contact me if you'd like to know more.

Hey Ed

I am an all cash investor here in the springs. I have bought multiple houses from wholesalers in the past. I'm happy you've made the choice to begin investing. Its the best decision you could ever make for your financial freedom.
Feel free to connect with me and we can get coffee sometime and talk about investing in Colorado. 

Hey Pete. You came to the right place. Some good information has been posted above. I bought 12 houses last year in colorado springs and pueblo. I'm moving into denver with 2 purchased this year and a few more under contract now. Id be more than happy to discuss some of my strategies for finding these denver properties.  Give me a call today or sometime this week! I can show you some of my current properties when you're in town. 

Look forward to talking to you. 

Joe Graeve 

I'll pm you my contact info 

Looking for a partner/investor for a property I have under contract. This is a rental. it has tenants in it currently that are paying 1100 a month but we would be moving them out and implementing this strategy. This house is less than 3 miles from Fort Carson Army base as well as Pikes Peak Community College main campus. Because of those factors it will be perfect to rent out each room individually. there is one master with a private bathroom which i will be asking for 600 a month in rent. the other three will be asking for 550 a month. That is 2250 gross.  The master bedroom roommate will be vetted thoroughly and be given the role of property manager for 100 a month off of his rent. He will collect the rent and deposit it as well as call my contractor if something goes wrong and my contractor will send the bill to me. Vacancy is also low because you're taking the benefits of multifamily and putting them in single family so if a tenant leaves you only have 1/4 of income gone for a short amount of time.

It needs 18k for new floors, paint, kitchen and renovating two bathrooms. but other than that it is in great condition.
The cash on cash figure is taken from putting 25% down on a mortgage and getting a 4.5% rate on a 30 year.
UNLEVERAGED it is still a 17 CAP!

I could completely step out on this one and you could take over or put up just the renovation or however you would like to do it. I need $130,000.00 total to make it happen. We could pool a few investors together and do  a joint venture partnership also. 
Call me at 719-357-7497 and lets make this happen. Closing by the end of February.
or email at [email protected]

I have a duplex for sale for $173,000. It has 3 bedroom 1 bath upstairs and 2 bedroom 1 bath downstairs. Downstairs has a separate entrance but does not yet have a variance for being zoned duplex (not hard to get). The house has a new roof and all new plumbing, new water heater, and comes with a new furnace not yet installed. The upstairs is fully renovated and is turnkey. the downstairs would need around 4-5k to finish. here are the numbers.

Conventional mortgage method

Purchase $173,000

20% down- $34,600. Interest rate-5.25%, Loan term-30 years

Monthly payment(Principal, interest, taxes, insurance)- $1050

Rental expenses

Maintenance(8% because all major maintenance is new.ex-roof)-$152

Vacancy (8%) -$152

Prop management (8%)- $152

Total monthly expenses -$1506

Total monthly rent- $1900 (top-$1100, bottom finished-$800)

Monthly PROFIT- $394

CASH ON CASH- 12.25%-First year, 

Current ARV 190,000k- 

You can see my spreadsheet for this calculation but assuming 3% inflation, selling in 5 years with 8% in closing costs and commissions, you would make $60k profit (equity pay down, appreciation, and rental income)

Closing will be October 30th

Let me know if you are interested. Call Joseph at 719-357-7497 or email at [email protected]

@Jon Holdman

 I did account for closing costs on both ends, but i only put a rough estimate here, I have a complete spreadsheet with the specifics for people that are interested. Also I am willing to guarantee the first 40k of profit to the partner. That is a 7.6% return in 6 months or less. The great thing about this deal is that half of the comps are under contract in 6 days or less from listing date.