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All Forum Posts by: Matt M.

Matt M. has started 44 posts and replied 2366 times.

Post: HUD Homes

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

I bought a HUD home as an owner occupant this summer. Our investor competition is so fierce here in Denver that is was my only shot to get a good deal on a home. The numbers are great, but there is one problem, my wife now loves the home, so we aren't leaving anytime soon.

Anyways you have to have an agent registered with HUD to bid, etc. The highest NET to HUD wins the deal. Your paperwork must be flawless, and there are a lot of hoops to jump through. You should negotiate your agent's commission beforehand because that and any closing costs reduce the NET to HUD.

Get an experienced agent and go for it. Good luck!

Post: Saving money on paint .

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

My sister in law turned me onto that when she was finding paint for her kids to do projects. Works well for rentals, etc. I used some in my garage.

Post: Interesting article on Chinese Drywall

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

A family member of mine just got her town home completely gutted and rebuilt due to Chinese drywall. She was one of the first lawsuits in her state.

They replaced EVERYTHING down to the stud. The electrical was compromised along with the HVAC, TV, basically anything with electronics.

Post: Best at Analyzing Comps: A Realtor, Investor, or Appraiser?

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

I'd say use a seasoned investor AND a real estate broker. Take that info and make the call yourself.

Post: What do you do to minimize tenant turnover?

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

I usually keep rents low and cost to move in high (1st, last, & SD). It usually attracts a larger pool that I can screen from.

Make sure the units are clean and free of pesky handyman items (small leaks, holes, door locks work, etc)

Post: Befreinding Realtors?

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

Zillow and the like are notorious for inaccurate info. I pull comps for friends from time to time. For my wholesalers, they usually take me out to lunch or let me list a property here and there for them.

I showed a unit in Whispering Pines last month to a client, so I know what you are talking about.

I have a PM contact if you would like it. Let me know.

Good luck!

x4 @James Wise .

I did about 175 yards of carpet for $4k at my house. I bought it at Sloan's. I have a guy that could take a look at the repairs. I think he does PM work now too.

Depending on where it is, I could take a look at it for you. Let me know.

$875 is CHEAP for Denver.

Post: Let's Drop the term "Passive Income"

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

There are several passive income options when it comes to real estate. You just have to look around.

Post: Is there such a thing as a home construction consultant?

Matt M.Posted
  • Realtor
  • Denver, CO
  • Posts 2,518
  • Votes 1,277

I just sold a listing where the buyers were going to scrape a triplex and build a new one in Denver. They said it would take 6 months for them to get permits, etc before they could break ground. I would tell your guys the situation so it is on their radar.

What have you done to find the 200+ deals? Bird doggers, etc?