All Forum Posts by: Luis Arevalo

Hey everyone! Looking to pick at some big brains in here.

I’m a newer investor in the western slope area of Colorado. I’m working on getting this property under contract so I can offer it to my investors (I don’t have the capital to rehab it myself) however I’d like a second opinion on my numbers to make sure I’m offering a great deal to them. I’ve personally have never done a fix and flip so I’m making sure I’m not missing anything important.

Any tips or ideas would be incredibly appreciated. Thank you! Here is the link for it.

https://dealcheck.io/s/-NkG99mC96Dahz1Epi40

@Teri Feeney Styers @Ben Rhodin

Gotcha gotcha. Yeah this first one I’m looking at will cash flow about $100 once I refi it after the first year of living in it. It’s not a grand slam but I think it’s a very first solid first step to building my rental portfolio.

Thank you guys for all the insight!

@Hamp Lee III Thank you for the advice!

Will definitely keep you guys updated!

@Teri Feeney Styers Thank you for your feedback! So your recommendation would be to narrow down my search to specific properties and then run numbers and make sure they cash flow?

It sounds like no matter what type of property I purchase (SFH, Townhome, condo, etc) as long ad it cash flows it'll be a good investment?

Hello guys!

I’m buying my first real estate property in the grand junction, Colorado area. It’s a CHFA loan and I’m very excited, however I’m trying to make the best decision to set myself up for a rental portfolio.

My plan is to live in it for about a year then rent it out and refi and pull some equity out.

Which would yield the best benefits for the future, SFR, Townhome, apt, condo?

Trying to way out the pros and cons of buying cheaper or turn key as well.

@Bob Stevens ok I think I understand what you’re saying! Is that the only thing you look at before purchasing a rental property is your cap rate?

@Barry Ruby also I don’t believe the sellers description is up to date. This is the new description

“Rare Opportunity to Own a Commercially Zoned

Property with Multi-family Use. This Property is Located on a High Traffic and Highly Visible Corner of Ute & 13th Street. General Meeting with the City Has Been Completed. Additional Residential Structures Are Permitted. Tenant in Unit A has a signed Lease Agreement that entails $1,050/Month in rent plus 60% of the utilities. Unit B updating was complete 10/31/2022. Tenant in Unit B has a signed Lease Agreement starting 11/18/2022 that entails $950.00/Month in rent plus 40% of the utilities. Tenant Revenue is $2,000.00/month - $24,000 Annually at 8.2% cap rate. Exterior updating is complete. Exterior painting is scheduled pending weather, Seller willing to issue $3,500 in towards purchase price for exterior painting.

Seller is a Licensed Real Estate Broker in the State of

Colorado”

@Barry Ruby Thank you Barry! Here is the link:

https://dealcheck.io/s/-NH1cbXX9veEasENhyuD

I’m new to real estate and have never owned a rental property before. I’d like to get a couple opinions on my evaluation on a multifamily unit to see if my numbers are correct. Or if it’s worth it. Commercially Zoned Property with Multi-family Use. Tenants in place already.

I have the PDF report to send to anyone who would like to help me out.

Thank you!