All Forum Posts by: Colin Smith

Investment Info:

Large multi-family (5+ units) buy & hold investment in Colorado Springs.

Purchase price: $785,000
Cash invested: $900,000

This was a syndication with partners. The only parts of the property that will have remained untouched were exterior studs. Otherwise we replaced or did work to the fountain,.stucco, roof, electrical, plumbing, heating, walls, insulation, kitchens, bathrooms, flooring, utilities, windows, etc. No part of the property was left untouched. We our investment group plans to hold this for years to come benefiting from the cash flow and appreciation.

What made you interested in investing in this type of deal?

This property came off market with ability to force appreciation with a massive renovation.

How did you find this deal and how did you negotiate it?

We found this deal through a wholesaler who negotiated the price down to a reasonable purchase price.

How did you finance this deal?

This was a combination of syndication partners and originally a hard money loan that we eventually converted to a contraction loan. After construction was completed we converted this to long term financing.

How did you add value to the deal?

There was no part of the property left untouched. This property was a massive undertaking for its remodel.

What was the outcome?

We have permanent financing in place and look forward to years of rewards for it's undertaking.

Lessons learned? Challenges?

There were many challenges to navigate, especially being a commercial project which has higher standards of construction for the building department. We worked with engineers and architects to complete the design phase alone and combination of a General Contractor who pulled the permit for us, our subcontractors, and our in house renovation and maintenance team to complete the work.

NEW LOCATION! -- Due to a sudden closure of Jarhead Coffee, we will now be meeting at Hill City Church at 3029 N Hancock Ave, 80907.

Join Colin Smith and Dan Haberkost at Hill City Church on the 1st Tuesday of every month at 6:30 PM and the 60+ investors who regularly attend!

Meeting Topic:

Mr. Priebe has his office in Colorado Springs, CO. He has been practicing law for 28 years, with many of those years dedicating to representing wholesalers, flippers and real estate brokers. As a real estate investor himself, he understands the needs of those who also invest in real estate. He will be available to take your questions about the subject topic as well as other questions.

Subject Topic: Corporate Transparency Act

On January 1, 2021, Congress passed the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the CTA). The new requirements under CTA will start January 1, 2024. The CTA requires all U.S. businesses to file “beneficial ownership” information with the Financial Crimes Enforcement Network (FinCEN). Mr. Priebe will be discussing this major piece of regulation and the implications and requirements for all companies and their owners. If you currently have an entity or plan to start an entity, you need to know about this matter.

Other topic: Due to a recent U.S. Supreme Court decision, there have been some changes to the Colorado tax lien sales process. Mr. Priebe will highlight those changes and will bring investors up to speed on the issue and a possible work-around.

https://www.youtube.com/watch?v=Du053K5nes4 (Location & Frequency Has Changed)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Date: Tuesday, October 3rd, 2023

Time: 6:30-8:30 PM

Location: Hill City Church - 3029 N Hancock Ave, Colorado Springs, CO 80907

Cost: FREE!

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties (~400 Doors), and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

NEW LOCATION! -- Due to a sudden closure of Jarhead Coffee, we will now be meeting at Hill City Church at 3029 N Hancock Ave, 80907.

Join Colin Smith and Dan Haberkost at Hill City Church on the 1st Tuesday of every month at 6:30 PM and the 60+ investors who regularly attend!

Meeting Topic: Deanna Gomes was the property buyer for Mike Jake and converted approximately 500 leads to short sales for Pink Realty in one year. Deanna held the highest lead conversion rate for Pink Realty they’ve ever had, at 89.9%. She will share the tips and advice I used for exceptional conversions in this emotionally charged industry.

Here is what to expect:

https://www.youtube.com/watch?v=Du053K5nes4 (Location & Frequency Has Changed)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Date: Tuesday, October 3rd, 2023

Time: 6:30-8:30 PM

Location: Hill City Church - 3029 N Hancock Ave, Colorado Springs, CO 80907

Cost: FREE!

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties (~400 Doors), and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

Join Colin Smith and Dan Haberkost at Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) on the 1st Tuesday of every month at 6:30 PM and the 60+ investors who regularly attend!

Meeting Topic: Colin Smith will be sharing how he got started building his rental portfolio, how some deals were creatively put together, and what he learned from the school of hard knocks.

Here is what to expect:

https://www.youtube.com/watch?v=Du053K5nes4 (Location & Frequency Has Changed)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Date: Tuesday, September 5th, 2023

Time: 6:30-8:30 PM

Location: Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) - 5965 N Academy Blvd #203, Colorado Springs, CO 80918

Cost: Purchase food or drink on your way in.

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties (~400 Doors), and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

Join Colin Smith and Dan Haberkost at Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) on the 1st Tuesday of every month at 6:30 PM and the 60+ investors who regularly attend!

Meeting Topic: Isela is an Independent Insurance Agent that has been in the industry for over 20 years. She has an extensive understanding of Real Estate Investing and will be sharing what is changing in the Insurance Industry and how it will affect property owners in Colorado. Bring your questions as this will be a great opportunity to ask them!

Here is what to expect:

https://www.youtube.com/watch?v=Du053K5nes4 (Location & Frequency Has Changed)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Date: Tuesday, August 1st, 2023

Time: 6:30-8:30 PM

Location: Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) - 5965 N Academy Blvd #203, Colorado Springs, CO 80918

Cost: Purchase food or drink on your way in.

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties (~400 Doors), and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

TAKE NOTICE: We usually meet the 1st Tuesday of the month but didn't want to compete with the 4th of July so we will be meeting the 2nd Tuesday for July only. 

Join Colin Smith and Dan Haberkost at Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) on the 1st Tuesday of every month at 6:30 PM and the 60+ investors who regularly attend!

Meeting Topic: New Colorado bills have been signed in by Governor Polis and the Colorado Supreme Court made a new ruling that is changing the game for ALL Landlords. We all have to play by the new rules. Colin will be reviewing these changes so you are not caught breaking the law as a Landlord.

Here is what to expect:

https://www.youtube.com/watch?v=Du053K5nes4 (Location & Frequency Has Changed)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Date: Tuesday, July 11th, 2023

Time: 6:30-8:30 PM

Location: Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) - 5965 N Academy Blvd #203, Colorado Springs, CO 80918

Cost: Purchase food or drink on your way in.

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties (~400 Doors), and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

See you all at the Colorado Springs Real Estate Investor Association meetup tonight!

See you guys next week for the Colorado Springs Real Estate Investor Association!

Join Colin Smith and Dan Haberkost at Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) on the 1st Tuesday of every month at 6:30 PM and the 60+ investors who regularly attend!

Meeting Topic: This month Dan will walk us through how to set meaningful goals in your business by talking through how to break them down into tangible "lead measures" that can be executed on a daily/weekly basis.

Here is what to expect:

https://www.youtube.com/watch?v=Du053K5nes4 (Location & Frequency Has Changed)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Date: Tuesday, June 6th, 2023

Time: 6:30-8:30 PM

Location: Jarhead Coffee (Formerly Pikes Perk Coffee & Tea House) - 5965 N Academy Blvd #203, Colorado Springs, CO 80918

Cost: Purchase food or drink on your way in.

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties, and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

Join Colin Smith and Dan Haberkost at Pike Perk Coffee & Tea House on the 1st Tuesday of every month at 6:30 PM and the 60+ investors who regularly attend!

Meeting Topic: Colin Smith will be giving an update on the local real estate market with data and trends to give a theoretical projection of the what might happen in the future and give insight as to whether or not now is a good time to invest or if the sidelines are better bet.

Here is what to expect:

https://www.youtube.com/watch?v=Du053K5nes4 (Location & Frequency Has Changed)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Date: Tuesday, May 2nd, 2023

Time: 6:30 PM

Location: Jarhead Coffee (Formally Pike Perk Coffee & Tea House) - 5965 N Academy Blvd #203, Colorado Springs, CO 80918

Cost: Purchase food or drink on your way in.

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties, and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!