Property Profile

We work with a variety of developers who acquire properties in the Denver metro area and either renovate or build new homes.Most of the properties we fund are older homes, 600 – 1000 square feet with a purchase price $200,000 - $350,000 in stable neighborhoods.

There are three profiles for the projects we fund:

  • Just do a re-do of the existing interior (removal of walls, new kitchen/bath, clean up the landscaping, etc.) These projects typically take several months.
  • A larger project will gut the current interior of the home, double its size (either by going up or going out), add a two-car garage and build out a completely new interior with new exterior landscaping. Renovation budgets are typically $100,000 - $200,000. So, with the exception of the foundation, the buyer gets a brand new house—new electrical, new plumbing, fixtures, cabinets, appliances, flooring, etc. These projects typically take around 5 months after a building permit has been issued.
  • The third profile is “start from scratch”—meaning scrape the existing house and start all over. Again, the buyer gets a completely new house and the project will take 7 months or so after issuance of the building permit. Of late, this is mostly what we have done.
  • A sub-category of the last one is building multi-plexes (townhomes)

Once the project is complete, we estimate one month to find a buyer and another month to close. Thus, funds are earning interest from anywhere from 8 months to 14 months, depending on the magnitude of the project.

We have now completed over 3 dozen projects that have completed and sold with several others in the development pipeline. Investors made money on each one of those. 

It’s important to note that every investor has been paid back with interest—and every investor has decided to move their money forward to another project. That’s the sign of a successful experience.


New project matrix:

Completed Projects 2012 – 2013            
                   
  3069 S 4146 2440 4466 5118 1005 5136 3024 5610
Property Washington Winona Osceola Hayward Tennyson Leyden Tennyson 22nd Rowland
Buy 3/13 5/22 8/13 10/2 10/12 11/8 11/15 12/18 8/5
Sell 11/1 12/31 7/10 7/30 11/20 10/15 10/28 5/16 1/12
Sq ft before 520 798 875 572 603 1005 1018 704 2297
Sq ft after 1700 2400 1274 2300 2460 3100 2100 1160 2297
Purchase $95,000 $210,000 $243,000 $237,500 $180,000 $235,000 $195,000 $165,000 $250,000
Sales Price $337,000 $569,900 $535,000 $625,000 $640,000 $650,000 $675,000 $280,000 $430,000
                   
                   
Completed Projects 2014            
                   
  1395 1214 5180 4840 5151 2328 S 5700 E 4581 6394
Property Garrison Logan Stuart King Stuart Williams Cedar 36th Jay Way
Buy 8/30 7/10 4/15 8/26 8/8 11/28 1/21 3/31 7/9
Sell 3/12 4/7 4/4 7/1 6/25 9/15 6/12 9/1 11/30
Sq ft before 1340 832 633 612 556 896 1724 1546 1771
Sq ft after 1340 2235 2120 1478 2500 2000 1824 1546 1771
Purchase $169,000 $237,500 $168,000 $137,000 $135,000 $245,000 $415,000 $320,000 $226,000
Sales Price $348,000 $575,000 $490,000 $345,000 $630,000 $735,000 $725,000 $560,000 $375,000
                   
                   
Completed Projects 2015            
                   
  3744 2299 S 2730 S 2624 S  2835 S 2634 S  415 2875  
Property Ontario Lafayette Gilpin Race Gaylord Gilpin Jackson Eagle Cr  
Buy 3/21 4/7 2/11 7/31 9/10 12/15 1/19 7/16  
Sell* 2/15 3/5 4/10 8/18 10/15 1/31 6/19 3/31  
Sq ft before 0 808 815 703 1290 916 2875 3245  
Sq ft after 2500 2600 2500 2893 2936 3269 2875 3245  
Purchase $130,000 $260,000 $252,000 $260,000 $275,000 $285,000 $380,000 $485,000  
Sales Price* $725,000 $700,000 $725,000 $747,500 $789,000 $830,000 $402,000 $509,250  
                   
                   
Completed Projects 2016            
  2615 S  2570 3744 336 2299 S 2111 S  2508 S  2674 S   
Property Gilpin Carr Ontario Clarkson Lafayette Franklin Penn Cook  
Buy 12/28 4/10 3/21 8/23 4/7 8/18 7/1 3/26  
Sell* 4/6 3/15 2/15 3/2 3/5 2/28 3/1 5/15  
Sq ft before 710 1270 0 759 808 792 748 801  
Sq ft after 2983 1270 2500 1100 2600 2897 2922 3288  
Purchase $285,000 $221,000 $130,000 $252,500 $260,000 $260,000 $215,000 $347,500  
Sales Price $830,000 $380,000 $725,000 $400,000 $700,000 $740,000 $730,000 $1,315,000  
                   
                   
Completed Projects 2017            
  1694 S  3640 2640 S 1150 S 2666 S 900 1737    
Property Madison York Gilpin Garfield Madison Kendall Verbena    
Buy 2/26 4/10 4/18 5/25 4/15 12/15 3/2    
Sell* 6/30 3/20 7/30 6/30 9/6 5/8 7/15    
Sq ft before 662 1000 955 804 755 1212 942    
Sq ft after 3118 2000 2800 3400 3300 1212 1158    
Purchase $325,000 $221,000 $285,000 $400,000 $435,000 $290,000 $221,500    
Sales Price* $1,400,000 $430,000 $925,000 $1,475,000 $1,500,000 $350,000 $375,000    
                   
                   
Current Activity 2018            
  1343 2660 S 1618 S 3124 S 1235 3031 5842 5843  
Property Fillmore Monroe Madison Wheeling Perry** 16th*** Clemens Clemens  
Buy 9/19 2/15 7/12 3/1`5 8/16 9/15 3/30 3/30  
Sell* 4/20 10/30 12/30 12/30 1/15 6/30 2/15 2/15  
Sq ft before 1505 1334 877 1380 0 0 925 925  
Sq ft after 1505 5250 3908 1380 5869 9408 925 925  
Purchase $420,000 $420,000 $325,000 $215,000 $477,000 $900,000 $125,000 $125,000  
Sales Price* $917,000 $1,515,000 $1,367,000 $299,000 $1,800,000 $3,100,000 $210,000 $210,000  
                   
                   
    * Dates and prices in the future are estimates          
  ** 3-unit townhouse            
*** 6-unit townhouse                
                   
     

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     
 
 
 
 
5118 Tennyson