Trying to get started in Real Estate in Denver Metro Area

Denver, CO · Member since 2011 · 13 posts · 0 votes

I am trying to get in to real estate in the Denver Metro Area. Looking to buy and hold a single family or condo in the $150k-$175k price range. Where are the best places to start looking?

Thank you

0 Reply

26 views

Most Popular Reply

Scott TrenchPro Member

Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes

10y

@Nicholas Denning I think that there are three things that will help you here:

1) Determine what is on the market in general in the Denver market. You can do this with an agent search for all properties under $200K within 20 miles of downtown Denver. I think that just looking at that in general will open your eyes to what the reality of your purchasing position is.

2) Within the areas where those properties pop up, determine what units/locations will attract tenants that you would like to rent to. This will involve actually knowing the city, or driving around those parts of town to become comfortable.

3) Determine your holding period - if you want some quick equity, you can buy a place with some value add opportunities. If you are a little more patient, then look for opportunities to cash flow now, but realize upside over the long-term. Light rail stops like @Jean Bolger mentioned are a good bet, but so are some of the big developments coming in and the big infrastructure projects being undertaken by the city.

Podcast Guest on Show #223

1 Reply

See this reply in the discussion

6 Replies

Jump to latestLatest

Sort by

Andrew Newlon
Flipper/Rehabber · Springfield, MO · Member since 2014 · 114 posts · 67 votes
10y
Hey Nicholas Denning your best bet would be to start with a local REIA group. There you should find investor friendly realtors, wholesalers, landlords and other investors that may have leads on good deals fitting your criteria.
0 Reply
Bill S.Pro Member
Moderator
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
10y
@Nicholas Denning This is where I start with investing in buy and holds. Figure out what kind of tenant you want to rent to and then only buy property they will rent. As for the actual property, I always start looking on the MLS. You can have an agent search for complexes that meet your criteria. Then do some looking, just to learn. Visit the complexes, look at units offered for sale and meet the people that live there. Learn about the areas and then pick a few that you like.
After you have done that then you can start looking for bargains from wholesalers and get leads for what you want. If you can drill down to a few thousand units you might try some direct mail to be able to buy a unit below market and stretch your money further.
0 Reply
Ben Leybovich
Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
10y
The best place to look is where nobody is looking :)
0 Reply
Jean BolgerPro Member
Aurora, CO · Member since 2012 · 2k+ posts · 1k+ votes
10y
You'll have good options along the corridor of the yet-to open Aurora light rail line stations. The prices aren't as good as they were a while ago (obviously) but a lot of the retail buyers are still seeing the inconvenience of the construction rather than the potential. LMK if you want me to set up a search for you like Bill was talking about.
0 Reply
Scott TrenchPro Member
Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
10y
@Nicholas Denning I think that there are three things that will help you here:
1) Determine what is on the market in general in the Denver market. You can do this with an agent search for all properties under $200K within 20 miles of downtown Denver. I think that just looking at that in general will open your eyes to what the reality of your purchasing position is.
2) Within the areas where those properties pop up, determine what units/locations will attract tenants that you would like to rent to. This will involve actually knowing the city, or driving around those parts of town to become comfortable.
3) Determine your holding period - if you want some quick equity, you can buy a place with some value add opportunities. If you are a little more patient, then look for opportunities to cash flow now, but realize upside over the long-term. Light rail stops like @Jean Bolger mentioned are a good bet, but so are some of the big developments coming in and the big infrastructure projects being undertaken by the city.
Podcast Guest on Show #223
1 Reply
Nicholas DenningPro Member
OP
Denver, CO · Member since 2011 · 13 posts · 0 votes
9y
Thank you everyone for the great advice. I will start implementing these ideas and see where it takes me.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.