New investor in the Denver area
Hi, Im new to the area and the bigger pockets community, and was hoping to get some advise. I really want to get into real estate and id like to stay in this area if possible, but I'm finding it very hard to find anything that will cashflow within the first 3 to 5 years of owning it. Ideally I'd house hack a quadplex with a little help from a lender, however I'd be willing to go with anything that has promising cashflow. Should I start looking outside of Denver? Should I just stay patient and wait for the perfect deal? What am I missing? I'm open to other strategies and would love to hear any of your suggestions. Thanks!
Most Popular Reply
Hey @Clark Thomas Tyrrell! Welcome to the BiggerPockets community! You're definitely in the right place and asking some great questions. I think everyone's ideal first real estate investment is a quadplex that cash flows immediately but, unfortunately, in this hot Denver market, it's extremely hard to find.
Without knowing your personal situation, I would suggest looking into the house hacking method. It's the lowest cost of entry and allows you to rinse and repeat each year (assuming you can cash flow once you move out and have enough saved for another down payment). With property values and rent continuing to rise in the Denver area, it's not unlikely that by the time you're ready to move to the next property you could see some cash flow. House hacking also offers plenty of scenarios - rent by the room, separate units (if you can find the right property) for STR, MTR, LTR, etc.
Just my two cents if you really want to stay in the Denver market!!