All Forum Posts by: Scott Otis

Thanks guys.  Not a contractor, not sure why is says that.  I'm a realtor in Boulder and I agree, tough to hit the 1%.  I do know rent comps in that area are currently in the $2400-$2500/month mark, but thats for the granite and stainless package.  Currenly one unit, non remodeled is rented at $2100/month.  Both units needs some work and I do think they would come down on price.  It would be a buy and hold strategy, not a flip.  Overall, not a horrible return, but yes not enough room to even try to bring in an investor/partner.

Hey Guys, This is pretty much my first post. I found a duplex, two 3 bedroom 1200sqft units, Near City Park, maybe about 4 blocks North West of it, in Whittier. They are asking $720k for it and potential rents are $2500/unit, but each unit needs about $25k of work. Not entirely sure which direction to take from here except ask the local guys what their thoughts on the Whittier area are and if I should pursue. Follow up questions welcome. My proforma is showing 12-15% COC, but I don't have debt/equity so I need to either work with an investor or just sell it off as a flip.

Hey Mark,  I would be looking for a buy and hold strategy for long term growth.  However, I am not against flipping, but not to educated on that front.

I've got the experience, and potentially an equity partner, but I need some help navigating the Greeley, Colorado Market, or event he Fort Collins area. 

Would love to connect with like people around this area.

Markus,  I've managed properties in one of the most competitive rental markets for 4 years here in Boulder, CO.  Our policy is pretty simple :  It's due on the 1st, late on the 3rd by 5pm.  After that point it's $20/day until received.  Obviously, this is in a pretty wealthy student market, but residential could be treated the same as well.  But find a balance, to where a tenant isn't scared to pay late, but still will by when you absolutely need it.  Late fees generate income for you.  Take advantage of it.

Hello everyone, I am a new investor in the Denver Metro Area with a Vast Knowledge to the Rental Market here. I am looking for a 3-4 unit distressed or value add asset in the next few months. We are going the FHA route and hope anyone in the Denver area might have some knowledge on a few deals or can keep their eyes peeled. Any info on the FHA loan process or for those of you who have done it, some advice would be appreciated.