Feb 04 2025 58 mins 1
Planning to build or renovate in Denver? This eye-opening episode follows Paul and Valerie DeSalvo’s journey of transforming a 1902 Victorian home and adding an ADU in Berkeley Highlands. Their experience reveals the surprising complexity and escalating costs of development in Denver’s current regulatory environment.
Join us as we dissect how their initial $1 million budget faces significant challenges before construction even begins, with permit fees and regulations creating unexpected hurdles for even experienced investors.
Key insights from this episode:
- Why permit fees for a single ADU project can exceed $12,600 for sewer use alone
- How Denver’s new affordable housing fees can add $20,000+ to renovation costs
- The reality of permitting timelines: why “4-6 months” often becomes 8+ months
- Understanding the true cost of professional services: architects, engineers, and expediters
- Critical lessons about asbestos mitigation in century-old homes
For investors and homeowners considering development projects in Denver, this real-world story provides crucial insights into budget planning and timeline management. Learn from their experience to better prepare for your next building project.
Timestamps
(00:00) Intro
(02:16) Acquisition and Plan for the Property
(12:30) Budgeting and Finding the Right Contractor
(23:44) The Role of the Expediter (Permits and Timeline)
(32:10) Understanding Permit Costs and Fees
(35:42) The Affordable Housing Fee Surprise
(41:00) Dealing with Asbestos and Unexpected Costs
(43:16) Lessons Learned from the Project
Links from Podcast
- Learn more about Fire on FIRE: fireonfire.org
- Follow Fire on FIRE’s latest updates on Instagram: @fireonfireinvesting
- Reach out to Paul DeSalvo and Jamin Cook: [email protected]
Check out our other Fire on Fire Podcasts
#546: How To Finance Your Next Denver House Hack Investment
#535: Why ‘Boring’ Wealth Building Actually Works | A Financial Expert Explains
#529: From Injured Firefighter to Financial Independence (And How You Can Do It Too)
#479: First Responder to Financial Freedom Paul DeSalvo’s Mission to Help Others Achieve Financial Freedom
