Any thoughts from investors on best areas for investing in Denver? Much is happening with light-rail expansion and and curious where people see path of development?
Best is my mind is redevelopment in the urban core and specifically Denver proper. Their system is in place and like a cook book. Follow it and out fall the $. YMMV.
Anywhere you can get a deal. Seems like every area is experiencing growth and appreciation right now. Anywhere the light rail runs would be considered a path of development, as there is an obvious need for alternative transportation, which to me means area growth.
Right now I'm marketing to Aurora, Commerce City and Denver. That seems to be the only place where I can find cash flow. A 1% deal before light repairs is a home run in my book (In Denver Metro). If there are any other cashflow areas I would love to hear about it.
I just picked up a townhome for $165k that rents for $1,700 a month - minimal work needed right off the MLS. Mostly focusing on new construction projects in and around Sloan's lake, one project very close to light rail. Prices are up but so are rents - still good deals out there for those who are patient and persistent.