All Forum Posts by: Sunitha Alli

@Antoine Martel @Andrew Boettcher Thank you!  makes sense.

This is a nice down town property surrounded with all new construction.  If seller is unable to get the tenants vacated and If I were to consider vacating the tenants my self what does it entail?  Specifically:

How long does it take to evict renters? How much does it cost?

What precautions  should I take in taking up a task like this?

Thank you

Sunitha

We are making an offer on an 1940 built home in down town Denver.  However, this home is occupied by tenants currently.  

What precautions do i need to put in the' offer' to make sure tenants are out of the home before closing?

Thank you

Sunitha

We are making an offer on an 1940 built home in down town Denver.  This is an old home surrounded by all newly built condos with roof top decks etc. These condos are selling for 500k for a 1500 sqft. multi level units.

This home is 750 sqft with 750 sqft in basement.  Lot size 4500 sqft.  What would be the cost in Denver to completely renovate the home including electrical, plubling, hvac and roof.  

I need to budget the fixing cost before making an offer.  Kindly help.

Thank you

Sunitha

Hello,

I am considering to buy a 1936 home in Denver downtown for $450,000.  This home is mostly surrounded with roof top condominiums each selling for $550k.  

The lot size is 4500 sqft. and finished space in home1500 sqft. .  It is in bad condition needs a lot of work.  I do not exactly know what all is wrong in this property but my wild guess is $100,000 to fix it.  I expect of get rent of $3000 after renovation.

Alternate approach is to construct 4 condos instead of spending 100,000 on renovation.  Each condo with 2 floors, about 1500 sqft and roof top.  

My questions are:

1.  What precautions should I take if buy this property for renovation purpose?  Can I ask for inspection before making an offer?

1.  Should I plan to construct 4 condos instead of spending $100,000 on renovation?

2.  What is the typical cost for constructing 4 condos each about 1500 sqft with 2 floors?  I read that it is about $100 per sqft is it true in Denver?

3.  What information do I need to find out prior to buying if I can build condos in this area by demolishing old building?

Thank you

Sunitha

@Ash Patel

This deal never materialized.  The seller changed his mind to find a tenant himself and then sell.  Too good to be true I guess.

@Cheechee Lee Good point.  My agent approached me with this deal asking if I am interested. If not he will move onto others. This property is not in market yet.

I am not sure how to trust the deals that do not come to market. Are there any due diligence points for property that do not get into market?

@Cheechee Lee My agent approached me with this deal asking if I am interested.  If not he will move onto others.  This property is not in market yet.

I am not sure how to trust the deals that do not come to market.  Are there any due diligence points for property that do not get into market?

@ Joel Owens That makes perfect sense.  Thank yo so much for the key points, very helpful!

@ Jason Hirko Makes sense.  Thank you. 

I read in one of threads to hire a retail specialist that is a tenant rep to perform a (void analysis).  How can hire this retail specialist and what is the cost?

@ Joel Owens

Makes sense.  Thank you.