Beginning Real Estate in Colorado (Boulder / Denver / Longmont)

New to Real Estate · Louisville, KY · Member since 2019 · 127 posts · 86 votes

Hello BP Community!

I am just getting started looking in to real estate in Colorado (around the Boulder, Longmont, Denver area) and was wondering if anyone had advice for this market. Prices are extremely high, and I would be looking for a duplex to fix up and house-hack, but that would be even more money. Does anyone have advice for getting started in this area?

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Mindy JensenPro Member

BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes

@Isaac Pyle , there's a meetup in Longmont on April 10. https://www.biggerpockets.com/forums/521/topics/689313-st-vrain-real-estate-investors

[email protected]Podcast Guest on Show #261

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Isaac Pyle
OP
New to Real Estate · Louisville, KY · Member since 2019 · 127 posts · 86 votes
7y
I should also mention that I am only 19, and going to be a Sophomore in college next fall.
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Tanner Crawley
Realtor · Lone Tree, CO · Member since 2017 · 139 posts · 112 votes
7y
@Isaac Pyle
You will probably have to venture quite a bit out of the Boulder area. Have you got prequalified to identify how much you can afford? Have you determined specific goals? Cash flow, IRR, etc?
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Isaac Pyle
OP
New to Real Estate · Louisville, KY · Member since 2019 · 127 posts · 86 votes
7y
@Tanner Crawley No, I have not been pre-approved, simply because I do not see myself investing any money for in the immediate future. I am transferring to CU Boulder in the fall, and am just trying to understand the market / area more. I have not determined IRR either, but I guess I am somewhat confused on what that is. Can you explain Internal Rate of Return for me?
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Chet Mostue
Real Estate Agent · Littleton, CO · Member since 2016 · 41 posts · 9 votes
7y
Hey Isaac, Welcome! It might be good to find a local Real Estate meetup group just to start making some connections it could help to meet some money people and get some great advice from people who are doing it!
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Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
7y
@Isaac Pyle , there's a meetup in Longmont on April 10. https://www.biggerpockets.com/forums/521/topics/689313-st-vrain-real-estate-investors
[email protected]Podcast Guest on Show #261
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Isaac Pyle
OP
New to Real Estate · Louisville, KY · Member since 2019 · 127 posts · 86 votes
7y
@Mindy Jensen and @Chet Mostue that’s a good idea! I won’t be in the area until this summer, as I am transferring schools from western Colorado. But once I am there that is a great plan! Thanks for the idea!
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Jason Rhodes
Specialist · Broomfield, CO · Member since 2017 · 10 posts · 4 votes
7y
@Isaac Pyle I would start consuming educational material as much as you can remotely until you move here. Plus just simply keeping an eye on some properties through a Redfin (or similar RE search engine) for a while will give you a better feel for the areas in which you’re looking. I would also recommend reaching out to @Chris Lopez, he’s a broker in Denver that specializes in house hacks and puts out some great webinars that might answer a lot of questions for you. Good luck!
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Isaac Pyle
OP
New to Real Estate · Louisville, KY · Member since 2019 · 127 posts · 86 votes
7y
@Jason Rhodes Good idea! I have been watching videos, looking up figures, checking out listings, and listening to podcasts for the last couple weeks (about 4+ hours a day) so I will hopefully be well educated by the time I am ready to buy something. Thanks for the recommendation too! I will definitely send some questions his way.
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Dan MackinBusiness Member
Real Estate Agent · Erie, CO · Member since 2014 · 1k+ posts · 512 votes
7y
@Isaac Pyle try to come down to our meetup in Erie next week. Nice quick drive.
https://www.biggerpockets.com/forums/521/topics/689421-erie-colorado-gathering-of-badass-real-estate-investors-4-3-2019
720-466-3378
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Isaac Pyle
OP
New to Real Estate · Louisville, KY · Member since 2019 · 127 posts · 86 votes
7y
@Dan Mackin wish I could! I am in Gunnison going to school, I will be around that area this summer and fall though. Thanks for letting me know it’s an option though!
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Braden Burton
Crested Butte, CO · Member since 2017 · 27 posts · 9 votes
7y
@Isaac Pyle hey man let’s connect. I have 8 unit deal under contract in gunni. Don’t believe their aren’t deals, just have to work harder to find them. I live in CB but have Wheelies and Waves shop in Gunni
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