All Forum Posts by: John Krauklis

Just having furnished in the listing will work.   Lots of renters use Zillow.   Where is it at?

I can offer my knowledge.  Have her message me

I have bought a few properties with them.   They were easy to work with and no surprises. They both worked out great!    Message me if you have any other questions. 

Great plan.  I got heavily involved in str in Denver that made me some good money.  I bought a house in Avon, co in between Vail and Beaver Creek.  In 2018 it was $770,000 for a 5 bedroom, 3 bath house that needed a renovation.   The family and I spent the summer up there and I renovated it while enjoying the incredible outdoors all around. We put a hot tub and a fire pit in.  Now it pulls in $150,000 a year gross with about $50,000 in mortgage payments and overhead a year.  We use it a lot too.  Christmas to New Years is easily $30,000 of income.   I have gone with the big house niche and it’s worked out great.  It seems the hardest thing to find out about mountain properties is real rent numbers so there are mine.  
now I am building new construction houses in Denver and about to move my family into a nice one in Bonnie Brae 
good luck!

Homewrights.com

They are awesome!   Help you build company.  I have worked with them on two specs in Denver now.  The first one in Platt Park netted me $400,000.  The one I am finishing up in Bonnie Brae will net $1,500,000!  
Great people, great subs, great structure.  Really guides you to success and also helps qualify for the construction loan with the bank.  
check them out.  
John. 

Update on the progression of this remodel.  House is going great.  The dry wallers are just about finished with their work and should be out in a few days.  Then it is some trim work and the painters can start.  Meanwhile my buddies are working on other small projects like finishing the exposed brick, fireplace hearth repairs, hanging tile backer, back porch repair, etc.  I was able to put in all new plumbing, electrical and heating/ ac which are all coming online now.  I was able to use a nice Lennox high efficiency heater from another house that I own that got demoed.  It is up and running with all new heat runs and a big return air to the foyer.  The house previously had boiler heat but I wanted ac too so forced air is the way to go.  Today I was installing windows in the back room, finishing the return air line, getting the plumbing supply lines finished and jumping on the dumpster trash to get more in it.  The house is a constant battle to keep it clean and organized.  Also I have to be thinking a few steps ahead always with orders and scheduling subs.  The painter stopped by today to put his bid together and I said to be ready in a week and a half.  I ordered some double pane glass for the front door and back transom. 
I’m hopeful we can be done in 2 months and then start the refinance.  The good thing with rental is not everything has to be finished perfectly.  
It is really fun to bring this old house back to life and make a really nice rental out of it.  With it only a mile from the city and right next to a large hospital, the rental should do well.  
The budget is doing fine.  Drywall and flooring came in a little more but I took a lot out of the landscaping budget.  Not really any other surprises as far as fixes.  I can handle most structural and brick issues so that saves me.  
Glad the heat is on for these cold days!   Hands have had some busted knuckles and one bad splinter yesterday.  
John

@James Carlson the $6000 was for 30+ days rental.  We had 3 guys working on irrigation systems for DPS stay about 3 months.  It’s cheaper than hotel rooms, and you can cook.  Then we had a few families relocating to Denver and needed a place to be for a month.  
I closed on the property yesterday and today started getting the junk out and demolition of walls.  Very fun to get into an old house again and make it something much nicer.  
It has great curb appeal and is in a great location so I am confident it will rent well.  

The market in Denver is hot for just about anything.  We have a furnished rental in Denver that has been getting $6000+ Per month all summer and fall.  It is a 3 bedroom/3 bathroom.  If you showcase it right on Airbnb, you can get a lot.  
I will soon find out if that holds true for all parts of downtown and all seasons.  

Check out 145 W 1st. It just sold for $1.070.000! It has a newly built garage apartment and a nicely renovated two story house. I actually put together the numbers to build this ADU and I was at $220,000 about 3 years ago and passed on it because it just wasn't worth it to me. Adus take a special builder that is a sucker for punishment by the city and the tight confines of the urban environment. You are also building in a backyard with neighbors all around and limited access. I would say a 600 sf garage apartment over a 2 car garage is easily $250,000 + nowadays. If you can find someone who has the time.
 What part of Denver are you in?

I built my ADU about 6 years ago and did a lot of the work myself. I get $2000 a month on Airbnb for furnished 30+ day rentals. It's a 1 bedroom 600 sf. Paid for itself long ago!

John

Seasoned real estate investor here in Denver.  I concentrate on buy and holds and new builds.  You can’t beat the appreciation of Denver!