All Forum Posts by: Ken Buck

Hi Jordan, I send you a PM on this!

may sound outlandish yet high speed transportation infrastructure could help a ton...a lot want to live outside the city anyways - at least part time. There's plenty of easily developable land and resources 2-3hrs outside most cities.

We're behind almost every industrialized nation in this respect anyways.

 I hear you on reducing stress, not sure of your age, but I won't 'go there' on the stress and quality of life side of things....I'm more patient than I used to be for sure.

As far as what could be next - sounds incredibly non sensical and irresponsible - yet, move it all including yourself to a Colorado ski town. It's been a great move for me and my toys list constantly outgrows my to do list...ordering fly fishing towers for my new raft as we speak. Nonsensicle? hardly, the market does fluctuate here but it's the most dire supply and demand market I've seen (other than some CA beach towns). Land is scarce, development is limited by resources and decade after decade the millionires are kicked out by the billionaires..truly.

Anyway, that's my view, it's a long term hold view in an idyllic spot that few people will be able to attain ownership in.

I'd lean towards a full demolish as well...either way, headaches, but I'd rather have ground up headaches than remodel headaches ;) not to mention speed

Hi Nick, thanks for messaging me and glad we're connected. 

To answer your question, there are not improvements on this parcel. I like duplexes as well, yet part of the puzzle is incorporating the 3 affordable housing units (2 bedroom). I've attached ss of the multi family lots.

 And do what with the cashout? Skimming through here so pls excuse if I missed that part

Hey BP Community,

I'm excited about this development near the base of Crested Butte ski resort. It is proven high end and has some of the best views - it's truly a rare opportunity as developable land disappears quickly

It's 8 prime lots (around $1m a piece) and half are multi family (2 duplex and 2 triplex). 

We build high end for $600/SF all in - soft and hard costs.

My question, just to throw out there and brainstorm, out of the 4 MF lots, what type of mix would you throw out there? Surrounding homes are $1100-$1300/SF and 4-5,000SF. 

So I was thinking high end townhomes at $1,200/SF - yet any thoughts on the triplex configuration? want to avoid bowling alleys...

Coming from someone who's owned 7 duplexes, and about to build another (pm me if anyone is interested!)......

If you don't keep the whole thing, I'd keep one side! someone else's money in your bank

Hi James - way to go on your project...these are puzzles to solve for your personal situation and there are multiple funding options for you - bravo on that! 

If you are strictly the developer and not he owne, there are fewer liquidity options.

I'll be interesting to hear the conversation and what opens up around it. Right now, I'd look at options to sell a part of it - can you put a condo regime (attorney question) on a duplex and sell one side? Can you break off pieces and sell a lot? You need a bigger plan and that will entail answering these questions. Then you'll be able to answer the funding questions once you have a viable overall plan for the parcel. The highest values are going to be found in having these units all broken up so they can sell individually - exit plan.

It all comes down to creating equity as fast and safely as you can, and covering the operations (cash flow).

If a fourplex has more opportunity, great, if it's a duplex great. I think you're on the right track. Speaking from 31yrs of experience, I'd keep it in your local area as close as you can to your your residence.

Also, there aren't many undervalued areas in the US - RE has been a main source of income/investment for decades now and it's finally ballooned to the top. You're on the right lines by creating the equity upfront. Good luck, I'm in CO if you land here!