All Forum Posts by: Stuart Crowell

@Thomas Lorini Great job here! curious, this was an on market deal by the sounds of it. Were you confident in your ~450 ARV up front?

@Charles Peralta I'm a little late to the party but wanted to step in and introduce myself! I'm an agent here in Denver specializing in investors. I have currently have one assistant who helps me find deals but I would love to scale the program. When you visit/get to Denver let's link up and connect! I can plug you in to some fantastic people locally. 

Stu 

@Catherine Peters I'm helping a few clients through the process of closing on an 8 plex in SW Denver at the moment. They were very new to the commercial process but had done several B&H Residential purchases over the last 4 years. What I've learned is it's all about the lender. In my experience, some commercial lenders don't lend on "small" projects like this. However, we were able to pin down a commercial broker who is getting them in at 20%, ~5.00 IR, 30yr (echoing some of the thoughts above). I would be happy to put you in touch with him, just DM me :). 

Best, 

Stu 

Has anyone had success or know of lenders (aside from private, family, etc) who lend to individuals with <2 years of tax returns as a business owner? My wife and I are both in the first two years of our respective businesses. We are plenty liquid and have solid income but can't qualify for conventional financing (at least none that I'm familiar with). 

Thanks! 

BP Investors, 

I have an off market, high-end Victorian quadplex available in the heart of Denver with multiple investment opportunities and options. 

Details: 

• Victorian 4Plex built in 1890
• 3 2b/2b units and 1 basement studio
• Modern and new finishes, the place was ripped to the studs and is now back on the market
• This is a high-end rental close to E Colfax, 17th Street shopping & dining, City Park, Cheesman Park, and Downtown 
• Exposed brick, granite, fireplaces, SS appliance package, hardwood, All new home systems 
• 6 parking spots (not easily found near City Park)
• A few houses off of Colfax on High St (first block N of Colfax) 

Options: 

1. Buy as a rental investment. Could rent for $6500/mo (more if you wanted to push premium rents). 7% Cap Rate. 8% Cash on Cash return for those putting 20% down.
2. High-end house hack. If you have the funds, this would be a cushy way to house hack while you live comfortably in a fantastic part of town 
3. Zoned for residential or retail - lots of options for an investor purchasing now with a long term view of the E Colfax corridor, which is becoming more and more commercial. 
4. Buy and split the units, selling them off individually. High end 2/2's in the area are going north well of 400. Depending on timing, you would stand to net $200-400K if you sold in the short term. 
5. Combine any of these options depending on your situation. 

Things I don't know (yet): 

1. I f any sqft was added during the renovation of the property (County records show 3769)
2. Exact details of the finishes (brand name, builder, etc) 
3. Exact sqft per unit 

Comps: 

• 1530 Gaylord Active @ 1,250,000. On market since 7/11
• 1433 N Downing in Cap Hill. Sold for 1,018,300 in July. Not even close on condition. 

Call/email/comment/PM/whatever with questions!

I appreciate that info @Jared Bouzek

Hey BP!

On behalf of a client of mine, I'm looking for a Denver based commercial lender who is willing to loan on a property under 700K. Please PM me if interested or leave your recommendations in the forum. 

Appreciate any help

Stu

@Luke Miller Hey there! Nothing too different from any other agent worth their salt when it comes to investor clients. Wholesale networking, keeping in front of my active listing agents working with investors, a bit of door knocking but also hunting the MLS. I've had great luck with on-market deals, which I'm not at all scared of.

Hey BP, I'm looking for a 50/50 Partner who has experience with flipping homes in Denver. I'm a real estate agent and I have deals that are significant money makers that my clients pass up on regularly, usually due to issues in personal timing. I have not executed a flip myself in Denver but come from a family that flips homes in Michigan (where I'm originally from). I can find the deals, but I want someone who has flip experience and can help me execute the project management side. PM me if you want info on my current flip opportunities, otherwise let's connect and see if we would make a good partnership! My office is in 5 Points but I'll happily travel for a meeting. 

Stu