All Forum Posts by: Joe Massey

@Chris Lopez has extensive knowledge about investing in Colorado.  He also hosts many webinars about investing in the Denver Colorado market.   This unique market encompasses properties that cash flow and appreciate consistently.

Hi Mike,

My first question is what do you mean by "shape up"?  The Denver market has been UP consistently by 6% per year for the last 40 years.  Many Denver investors are afraid of the dreaded bubble. One thing to keep in mind, when the market did tank rents held mostly steady while the value of homes plummeted.  It didn't take long for those values to come back either!  Matt is right.  Small multi-family and distressed properties have an exceptional price tag.  When one buys a high priced distressed property, fixes and flips, there isn't much meat left on the bone.  Fix and flips could be too much of a  headache for the profit one is likely to obtain.  In the current Denver market, one would be better off fixing and holding or buying a turnkey property with minimal issues.  @Chris Lopez co-instructs a BRRRR strategy class where you will learn about finding that gem and refinancing after placing a renter in your property.

Hi Richard,

The “House Hacking” seminar @Chris Lopez co-instructs would benefit you greatly! “House Hacking” thoroughly explains how one can build their portfolio by purchasing one new investment property every two years by only investing 3.5% down on the first purchase and 5% down on every subsequent purchase. An experienced lender in “House Hacking" would be happy to look over your current loan position and help determine if refinancing will put you in the best possible situation for now and in the future. @Chris Lopez is the man to talk to when looking for any type of property in the Denver Metro Area!

Hi Benjamin,

@Chris Lopez is a wealth of information regarding investing in the Denver area! He teaches and co-hosts many seminars that will help you decide to house hack or flip. @Chris Lopez can also help you find that perfect property to leverage a better life. His classes can be found by adding key word searches on bigger pockets.

Hi Polly,

When considering 6% appreciation in house value over the last 40 years; waiting is not on your side. @Chris Lopez is the right man to help you find where to invest within the 470 loop. Investing out of state is always an option but finding appreciating properties similar to the Denver area is not common. You can find a class on the BRRRR strategy when searching for online and offline classes advertised periodically. Setting up keyword alerts on BP may help you find these classes.

Hi Liz,

@Travis Sperr is Denver’s premier lender for fix and flips! His experience in the current Denver market will help you feel at ease through the whole process. If you haven’t found that perfect rental or fix and flip @Chris Lopez has equal experience on the realtor side of the transaction.  Your Castle provides various classes from “Lending 101” to “How many properties you need to retire?” and everything in between.  YourCastle.com/training

Barak,

Multifamily investment properties still make sense in the Denver Metro area. Denver isn’t seeing the jump in median home prices that took place from 2011 to 2013. This would show that there is opportunity in the Denver market. There are many possibilities for you two at the price point mentioned above. @Chris Lopez has many years of experience in the Denver area as a Real-estate Agent and he is the perfect person to help you two find the perfect property that suits the both of you!

From acquisition it might be more effective for you to utilize a hard money lender when purchasing a distressed property. Conventional lenders will only lend money if the condition of the property is average or better. @Chris Lopez is a local agent who can help you find a distressed property. @Travis Sperr is with a hard money lender that doesn't care about condition. Their main focus is ARV (After Repaired Value). Pine Financial requires 7.5% in reserves and allows you to finance 100% of the closing cost, renovation, and purchase (not to exceed 70% of ARV). While living in the home and working at your primary job it will take every bit of 2 to 3 years to fully renovate a home (30 months * $1,500 = $45,000 in loss of gross profit). When utilizing a hard money lender you can purchase a distressed property for zero or low money down (no more than $30,000), hire a contractor to do the work, pay slightly higher interest for a few months then refinance with us into a conventional loan with 25% down, and start getting a return on your investment in a matter of months!

Hey Matthew - 

$1100 is really great cash-flow for your first rental property.  At first glance, there is likely a lot of equity in that property so you could certainly use that property to get some cash-out in order to purchase your next property.  

I know you're not in Denver anymore, but our associate @Chris Lopez, is a great resource for rental properties in the Denver area.  He has a terrific website with a number of resources for property owners in Denver and the surrounding areas.  Not sure if you are thinking about buying more properties in Denver since you have moved, but as you know, Denver is a great real estate market and Chris will be a great resource if you do decide to buy additional properties in the Denver area.  

Team Massey - Castle & Cooke Mortgage

I'd recommend @Chris Lopez with Your Castle Real Estate.  All he does are investment properties and he has a great website with a number of resources for investors.  www.denverinvestmentrealestate.com  Reach out to him and I'm sure he'll be able to answer any questions that you have.