House hacking success stories in Denver \ Boulder

7 Replies

It would be interesting to hear some stories from people who have house hacked in Denver area \ Boulder. Numbers, unique situations, Airbnb, renting rooms, lessons learned, property type, areas, analysis, etc. Anything you feel like sharing.

I got my start house hacking in Gunbarrel in 2003. In retrospect that was like striking gold, but at the time REI veterans we're telling me the time had already passed to invest, (much like today). Any time is a good time to get in to front strange real estate, and house hacking is a great way to slide that foot in the door.

Talk to @ craig curelop or @ chris lopez. Denverinvestmentrealestate.com has a bunch of case studies on the subject as well. 

@Steve K. That is pretty interesting, I’m glad it ya worked out for you.

I'm a software engineer down in Boulder, currently living in Greeley saving money. I'm torn between buying a SFH further east in Westminster or Arvada, or maybe looking into a condo \ townhome in Boulder \ Louisville \ superior \ broomfield since I can't afford single family properties in those areas. My main worry is putting 3-400 into a condo \ townhome and still being able to hack it. Do you have any insight being from the Boulder area?

Thanks Steve

Originally posted by @Mathew Fuller :

@Steve K. That is pretty interesting, I’m glad it ya worked out for you.

I'm a software engineer down in Boulder, currently living in Greeley saving money. I'm torn between buying a SFH further east in Westminster or Arvada, or maybe looking into a condo \ townhome in Boulder \ Louisville \ superior \ broomfield since I can't afford single family properties in those areas. My main worry is putting 3-400 into a condo \ townhome and still being able to hack it. Do you have any insight being from the Boulder area?

Thanks Steve

In that price range you should be able to find a great place to house hack, a duplex even if you look hard enough and don’t mind taking on a fixer-upper. Gunbarrel might not have too much in that price range anymore but there are properties available for 3-400k in any of these areas: Longmont, Lafayette, old town Arvada, Westminster, etc. tons of additional neighborhoods around greater Denver metro but above would be my preference if I was working in Boulder and looking to start out. Buy the worst house in the best neighborhood you can afford, fix it up, find some roommates to pay the mortgage and let appreciation do the rest. 

Originally posted by @Mathew Fuller :

@Steve K. That is pretty interesting, I’m glad it ya worked out for you.

I'm a software engineer down in Boulder, currently living in Greeley saving money. I'm torn between buying a SFH further east in Westminster or Arvada, or maybe looking into a condo \ townhome in Boulder \ Louisville \ superior \ broomfield since I can't afford single family properties in those areas. My main worry is putting 3-400 into a condo \ townhome and still being able to hack it. Do you have any insight being from the Boulder area?

Thanks Steve

I'd look in Longmont or even Loveland. You'll be able to find something in Longmont easily, and the commute from Greeley has to be killing you. Longmont is bikable to Boulder, and even Loveland is closer than Greeley - but still a haul. 

A very quick search of the MLS in Longmont, under $400k shows 44 properties.

@Austin Allan thanks for the mention!

@Mathew Fuller - I sent you a BP private message with 6 podcast links. Two are interviews with my house hack clients who hacking around Denver. The other are our monthly roundups where we give a market recap. It includes a market update and two case studies, but each one has at least one HH example. It goes over the numbers (while living there and when the hacker moves out) plus all the pros/cons of the property. Should be great info.

If you need more help or want to learn how we analyze house hack opportunities, let me know. That's what we specialize in.

Hey Mathew,

I'm also a software engineer, but I work in south Denver. Here's a link to my house hack: https://www.biggerpockets.com/...

Hope this gives you a better idea of what's out there. I've seen some decent small multifamily deals in the corridor between Denver and Boulder. It's still pretty competitive, but you gotta throw your name in the hat with the numbers that work for you. The bigger pockets calculator helps me alot, I try to be conservative with my numbers. 

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