All Forum Posts by: Matt M.

I sold a triplex in Sloan's Lake last year. The numbers as a rental didn't even come close to making sense. Now as a scrape, well that changed everything.

Any potential in the future for a scrape and rebuild of condo/townhome etc? That is just another way to look at it. 

@Joe Gravelle I have had good luck with Sloan's Carpet Secret for my carpet. They will do the install, etc for you. I have a handyman that I work with that could do the rest. Let me know if you are interested. 

Are you pulling permits, etc and NEED a GC? Or do you just need some subs to get the place in order?

I might be interested as well. Have you worked out the majority of details yet?

I picked up a HUD home last year and am starting to refi to get rid of PMI already;). We also broke some records for tourism visits, etc.

You can get lucky like I did and pickup a HUD home during the owner occupant window. You might consider picking up a cheap rental in Aurora and putting a section 8 tenant in there. I sold mine when the market ticked up for $130k. It cash flowed $400 a month.

Have you looked into multifamily properties? There are areas in the country right now that have attractive cap rates that could hit your income goals. You could 1031 everything into a multifamily. Just an idea. 

Thieves are going to know it is getting redone regardless of what you do. Since we have such demand here in Denver, why not wait until you know 100% that you are two weeks out from completion? 

@Jon G. We have a lender in Chicago that handles a lot of our business for our clients for our turn key properties which include single & multifamily (residential & commercial)

If you would like his info, please feel free to reach out.

@Bryan L. HUD homes are on the MLS here in Denver. What I meant was every "deal" or short sale, or handyman special was getting bid up on the MLS. We found our HUD home on the MLS, & were only able to get it during the OO period. Even then, there were multiple bids. I ended up not taking a commission which made our offer improve. It also helped that the HUD appraisal didn't take into account the 100% finished basement, so unless you saw the property, you would never know it was there.

Our appraisal came in $10 short (yes $10 as I bid $10 over an even number). We had some great comps come in at $70k+ what we paid so far this year. So we are looking to refi & get rid of PMI, lower rate, etc.