Denver, CO · Member since 2015 · 16 posts · 7 votes
I'm just starting out in real estate investing and looking to buy my first rental property. Problem is, I live in Denver Colorado and everything seems so overpriced.
Should I just accept that this is an expensive market and move forward, or wait a while to see if prices come down a bit?
Also, any ideas on good, cheaper neighborhoods in the Denver metro area?
Any suggestions would be appreciated.
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
10y
@Logan Halliburton timing the market is a fools game. You can analyze if things work for you in the current situation and buy or not based on the information. Planning on the market moving in one direct or another from where it is now in a specific time frame is predicting the future. Not to many (as in none) folks can do that consistently.
Do what works for you know. Time is usually the friend of the real estate investor. A long term investor stated, in 30 years you won't worry that you overpaid for a property today. While not 100% correct every time, it should be something to really think about in the present.
Specialist · Lakewood, CO · Member since 2014 · 1k+ posts · 1k+ votes
10y
@Bill S. hit the nail on the head. If the numbers work, do it. If not, don't.
If I could recommend a good, cheaper neighborhood I would have bought everything on it already ;) Of course, Bill or another investor probably would have beat me to them.