All Forum Posts by: Stuart Birdsong

Jarrad,

    Despite what other people are saying, you should be very cautious about purchasing a property with an un-permitted addition. Once you close on the property you have no recourse against the seller if you are required by the city to make any changes that bring it up to code. This can get very expensive, and ultimately on your dime. In addition, you should fire your Realtor for saying that 95% of properties have additions without a permit. From an outsiders' perspective, They seem more interested in their commission than they are in your potential liabilities following closing.  I am not telling you to walk away from the deal, but rather to proceed with caution and make sure you understand all that you are taking on. Once you own the property you own all the good and bad that come with it. These are just my opinions. Best of luck to you!

Stuart

Devan,

That looks like a great rehab you completed! Well done! I too live in Fort Collins and can attest to the challenging of finding good deals in the current market, although they are out there. You should go take a look at some of the new listings, there is actually a good deal on MLS right now. 185k 3/1 good location. Just a thought. If you're looking for some networking opportunities there is a Local Investor group that gets together, usually every other Tuesday call ICOR. It might be a good place for you to connect with some local investors who might help point you in the rights direction. Please feel free to PM me if you ever want to chat about the local market. Best of Luck to you! Cheers!

Stuart

Bobbie, Welcome to BP! Best of luck in your endeavors'

Stuart

Devin,

    Direct Mail can be every bit as effective as Cold Calling for listings. It costs more, but people call you. Just a thought

Stuart

Dylan, I did some research on the MLS and came up with a good reason it has not sold. It currently has a lot rent of $600/month, this drastically changes the 2% rule. As @Andrew Syrios said it is a manufactured home and is located in a Mobile Home park, therefore you only own the home, no land. Hope his is helpful. If you'd like PM me your email and I can send you the listing straight from Metrolist. Cheers!

Stuart

Chris,

   I realize that that comes off as pretentious and maybe boastful. I do not mean to make it seem that way. In many ways it is the product of how competitive our market is. I share it with you as It is something that we have had success with from a marketing perspective and more importantly, I imagine you think I am just another cocky agent, but I feel we have a very successful marketing strategy that has had positive results. I like to leverage that to help grow our business. I was serious about the Over 70 Mailer though. I have had great returns on that one demographic, and I feel pretty confident that few if any target that market. Best of luck to you!

Stuart

Best of luck, I hope it works out for you! I Imagine you already know this, unless the 2 units have separate legal descriptions, they can't be sold separately. Deed transfers by Legal Description rather than address.

This may be a question due to Colorado's strict building codes, but was the addition permitted? If not, it makes the property less valuable due to the potential code violations and additional expenses required to make it legal. If it is legal, it only adds value if you can rent it out. I would only offer what the additional income provides in terms of value to an investor. These are just my thoughts though. Cheers!

Stuart

Jacob,

      Welcome to BP! It's a great place to connect with local investors and gain the knowledge needed to be successful. Please feel free to contact me if you have any questions or the like. Cheers!

Stuart

My value proposition is as follows: Marketing Matters, we have a proven system that gets sellers' an extra $10,000-$15,000( Our Median Sales price is $338,500 for reference) per listing and we can prove it. If you're interested in learning more call us at xxx-xxx-xxxx. 

The caveat is, we actually have a proven marketing strategy that works as stated and we have the track record to show it. I hope this helps