Yesterday, the coldest day of the year, I had the extreme pleasure of evicting a family from their home. There were six of them, including a toddler, who were forced to leave, and I took great satisfaction knowing that I was providing a valuable service to my client, “the Bank,” to regain its rightful ownership of the property that it had foreclosed upon a month earlier.
The family had been given several weeks notice of the impending eviction, and by the appointed time of the action, the home was almost completely vacated with the exception of a few bags of clothing and other personal belongings that they were frantically gathering. Had I been a Sheriff, I might not have permitted them the time to collect these few remaining articles, but I’m just a Denver REALTOR, so I hung out, knowing that it wouldn’t take much time and that the toddler would probably appreciate the winter coat in a few weeks.
By the time the house was clean and ready to be secured, I handed over a check in exchange for the keys to the property and the $1800 brought joyful tears and hugs my way as the family could now begin a new life just a little more comfortably than they had known.
These people were renters. They moved into the in the Denver Highlands neighborhood house just a couple of months ago. They paid their rent on time, and figured that doing so would prevent an eviction. They trusted that their landlord was current in his mortgage payment but found out the truth the hard way.
The Cash For Keys program that many banks implement after foreclosing on an occupied property is a win/win deal. Simply put, if the occupants leave the property in good condition, they get money and the bank gets their property relatively free of trash and drywall holes.
The people I helped yesterday were scammed, and I’m sure that in the Denver area there are thousands like them paying rent to thieves. I was glad that I could help this family through their forced relocation, but perhaps my greatest joy from this situation came several days before the actual eviction occurred when the “landlord” demanded to speak with me after being told by his “tenants” that they would not pay the November rent that he was attempting to collect – a month after his property was foreclosed! Now I generally take a very diplomatic approach to handling most situations, but when I learned who was on the phone with me trying to convince me that he had a right to collect rent from his tenant, I exercised my right to push that one “button,” usually reserved only for Commanders-In-Chief during war, and let this slimeball know that I knew his name and would expose him to police, the press and to anyone else I meet. So, Mr. Juan J. Gonzalez, who lives in Parker Colorado with his wife Sylvia, here’s to you! Hope you don’t mind the prison accommodations much once you’re caught.
OK. I’ve vented enough. On to the business of today’s pick Denver investment property. I’ve written a lot about the Highlands neighborhood because the 80211 zip code is one of the fastest appreciating zip codes in Colorado Front Range real estate. Sunnyside, just to the north of Highlands is quickly experiencing similar appreciation since the 15th Street pedestrian bridge connected LoDo with Highlands (LoHi) over I-25.
Today’s pick Denver foreclosure property is located at 39th Ave and Shoshone, right in the area that is so hot for development. The house is just a thousand square feet, with 3 bedrooms and one bath. It’s a tiny place, but so are the other $250k-$300k properties on this street. Listed at $125,000 today’s pick Denver investment property comps at $268,000 and because of its location, one of the three most important conditions to consider, this would make an excellent rental. If the family that I helped yesterday hadn’t found a new place, they’d be here in a heartbeat!
Hit us up for more info about this home.
Posted by: Dave Perlowski
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