All Forum Posts by: Jonathan Jenkins

Thanks for the input and advice. We are currently advertising the property to a wholesale list at $395k. 

I recently tied up a 12,000sf parcel at the corner of Wadsworth and 41st Ave. 

The land is zoned Mixed Use Commercial and I would like to sell the parcel to a builder of apartments or townhomes. The density study shows it can fit 30-800sf apartments or 8-1,400sf Townhomes

What are the active builders/investors for Wheat Ridge or Denver that are looking for developable land?

Any suggestions on who to advertise this to?

I work as the acquisitions guy for several flippers/rehabbers and I am looking for a more professional tool to help develop rough rehab budgets. I have created a simple excel template that I update with what is needed to be replaced/updated and it will tell me a rough budget for the rehab. 

I believe there probably are Apps, websites, programs, or better templates for making these projections than mine. Does anyone have any app or program or site to recommend for this?

Free programs are preferred.

Thanks

@Aaron McGinnis  I have acted in the role as a lite contractor previously. I am not looking for a project with heavy renovations, and we have an inhouse handy man who can do a good deal of the work. 
I am not looking to make money on the project costs like a contractor would. I am basically using him as hard money and running the whole project from acquisition to disposition, but it is all done in his name.

I work for an investor as his acquisitions specialist and help him find deals. I am a broker, but also operate as his project manager. He has about 25 SFR that he holds for rentals.

For the last property he acquired, he paid me hourly while I managed the rehab (planned, hired, budgeted etc) and then turned the property over to our property manager for him to rent it out.

We are wanting to focus on flipping a few projects and not holding. He is willing to offer me a percentage of the deal/profits but we don't know how to structure it.

My role will be finding the property and acquisitions (here ideally I will be compensated with a commission or finders fee if off market), and then manage the process until it is ready to be sold.

I have read some posts about the project manager taking a % mark up on the cost of the rehab. My issues with these are 1) I want to keep the rehab costs as low as possible as if I was the investor, and do not want to be rewarded for higher costs
2) Soon I will be putting money in projects with him as a partner, and my mindset is analyzing deals that will have the highest return and want to be rewarded or penalized when the project does not work out like planned. 

What would be a reasonable percentage of profits for me running the whole project and just using his money? Profits =resale of property - rehab costs - hold - purchase price

When is the next Denver Meet up?