Real Estate Cycles - Denver specifically
Hey BP - I'm a 28 year old living just outside of Denver. My short term goal is to buy a home for a personal residence. My long term is to build equity and an income portfolio through rental properties. With the Denver market where it is - I'm looking for opinions on the market cycle and when to get in. I cringe at the thought of buying in a crazy hot market - especially as a 28 year old looking to start on a successful path in real estate. I appreciate any advice and opinions on the cycle and when to make the jump. Thank you!
Most Popular Reply
@Tom Horan I think you will find it difficult to time the ups and downs of any market. If you have a long-term investing perspective, I would anticipate that you will benefit from the growth of Denver over time. We have a great economy that is attracting many employers to the area. Plus with our current rate of population growth and lack of housing inventory, I don't see a pull back in prices on the near horizon.
Since you're looking for a place of your own, you might consider house hacking a multifamily property where you can rent the other units out and cut costs by self-managing.