All Forum Posts by: Justin Kroepfl

I am looking for recommendations for a rehab contractor in the Denver area. Thank you!

I recently read a story in our local newspaper discussing the over 1,000 abandoned properties currently in the area. It appears these properties have become quite the nuisance for homeowners in these neighborhoods and the are costing the city and taxpayers thousands of dollars. Part of my mission in real estate investing has always been to improve communities by upgrading the homes and therefore lifestyle of the residents. I see these abandoned homes as an amazing opportunity to 1) improve these communities for the families that live in them and 2) build a nice portfolio of either rentals or fix n flip investments. My question is how do I go about finding any information on these abandoned homes and subsequently making a purchase? Do I go through the city or do banks typically still hold these as REOs? Mostly I am just looking for the starting point. Thank you all for any info you can provide me!!    

Welcome to the BP community! I am located here in CDA as well and would be very interested in an investor savvy agent.

If anyone has a recommendation for an experienced property manager in Spokane I would greatly appreciate it! Thank you!!

Where is the best place to find comps on a property that is not mls listed? I have tried Zillow but I would like to know if anyone has a more accurate site to use. Thank you for any input!

Right now it is renting for $2500 and the seller was thinking 300k but i know that's not a possible number for anyone based on the condition and current financials. I am speaking with the seller later today to discuss what I can offer. 

I've actually been in the finance/banking industry for years so it's just habit to refer to buyers or sellers I may be working with as clients or potential clients. This is basically a seller I was introduced to by a mutual contact. Due to age and an unfortunate relationship with their partner the seller is wanting out of the property. 

@Steve Vaughan you are correct that the owner pays w/s/g. Thank you for your input on what you normally look for. Do you often work with wholesalers for your purchases?

Sam B. I am in the process of negotiating with the seller. My original reason for posting was to look for info from cash buyers in the area since this is my first run at a wholesale transaction, but you are right I probably should have posted in the marketplace.

Hey all I met a potential client today to look at an off market 6 unit building in the lower South Hill Historic district of Spokane, WA. I am throwing this out to any cash buyers looking to grow their potfolio in the area. THis would be my first wholesale deal although I do own a few duplexes out here. I am looking to see what buyers are looking for in this area and what you may be willing to pay for somthing like this. The property is older and is located in a historic district which means outside imoprovements must be to their approval. It has 6 units which include a 2 bd/1 ba, 2 1 bd/1 ba, and 2 Studio / 1ba. There is a large basement for storage and onsite coin operated laundry. The building is located on a double lot and has 6 off street parking spaces. Currently it is 100% occupied but the rents are far below average from my research. In my estimate it should cost around 75K to update properly and the new rent can total at least 3000/month. I am looking to make a name for myself and build a quality reputation in my area and as such I plan on leaving plenty of meat on the bone for everyone to come away from this transaction happy. If you need any more details you can message. I would love to hear some tips and/or offers you would pay as the cash buyer. 

Thank you all for any input!!