Finding deals in Denver

8 Replies

I just bought my first home last week, it will be my primary residence. I am looking to get into buying rental properties in the Denver area. I know the market is tough right now and houses are going fast. My question is where is the best place to look to find deals? realtor.com and MLS have very few options and it seems like I am missing on where to look for deals. Any help or advice would be greatly appreciated.

Hey Adam. 

Congratulations on your first purchase. I bet it was tough to get the contract accepted on it. Our market is ridiculously hot, as is most of the Denver area. There are deals to be had, but you have to look for them and be ready to act. I haven't seen a sub-$500k list-price house that didn't have Broker's Remarks in the MLS listing say "Showings start XX date, all offers must be highest and best and in by XX date, a decision will be made XX date."

Did you like the agent that helped you purchase your home? If so, ask him or her to send you a list of all the properties that fit your criteria. Agents in Longmont should have access to the MLS in Denver as well.

Realtor.com gets its information directly from the MLS. The MLS is the best source for information about properties currently for sale, and can only be accessed by an agent or their assistant.

Thank you for the reply.  I actually bought my house in Aurora (it still says Longmont on here).  But I did like my realtor and I will have him create a list. 

I had to act fast to get the home I did and it was the same case, a decision will be made by XX date and I got lucky and they went with my deal. 

I am looking for multi-family houses, any advice in trying to find a good deal for a multifamily?

Just let your agent know you are looking for multi-family as well. If you happen to drive past any multifamilies that pique your interest, look up the owner and send them a note. Especially if they have owned the property for a long time.

Here is a great podcast with @Anson Young , who is in the Denver area.

There is a meetup in Erie on August 5 I think. And one in Denver at the end of July - Anson runs the Denver one. Perhaps he could fill in the date of the next meetup?

Tell anyone you know that you are looking for a property. You never know when you will be talking to someone who is thinking of selling.

Thank you for the advice.  I will definitely get to the meetup and listen to the podcast.  Thanks again!

Originally posted by @Adam Hedio :

Thank you for the advice.  I will definitely get to the meetup and listen to the podcast.  Thanks again!

 Adam, welcome!  I'm in Aurora as well, is that where your new house is?

Here is the meetup info:  http://www.biggerpockets.com/forums/521/topics/210...

MLS is a place to find deals, but its very far and very few between right now. The market is loosening just a little, but nowhere near enough to make a huge difference for investors looking for deals on MLS. The best places are the normal ones, off market, direct to seller.

Anson

My new house is in Aurora, its in the Saddle Rock Ridge community.  I will get with my realtor and see if he can keep an eye out for anything that I am interested in.  My wife and I will be attending the Meetup and look forward to meeting you and other investors!

This post has been removed.

Originally posted by @Adam Hedio :

 My question is where is the best place to look to find deals? 

 Work your sphere. That is where I found my last flip $30k under market. I've got two more that I am working from a friend who knows I buy homes. If you don't have a sphere yet, get one. 

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