I live in the Denver area. From what I can tell the housing market is crazy out here. Looks like in the last 7 years the market has exploded. Is it too late start investing here or should I wait for the market to cool down, save cash and continue to learn in the mean time? Sorry in advance if this question has already been asked
I had lunch with a client last week. He waited 2 years thinking the same thing. It's been 3 years since he bought his home and now he's sitting on $100k of appreciation. He would have had a lot more if he would have bought when I told him to. I'm not saying that will be you, but Denver is still a VERY popular place to live and many people are still moving here.
Your best bet is to house hack, and have your roommates pay your mortgage and then some. I have a ton of clients doing this. On is on his 14th, and he is quitting his 9-5 next year.
Welcome to BP. I guess it depends on what you mean by "invest" and what your long-term goals are for this unit. Do you currently live in Denver? If so, do you already own? If you do live here and own here, and cash flow is your main goal in the short-term, then maybe it's not the place for a true investment.
But if you don't own already, I'd make your first "investment" your primary residence. You have to live somewhere, and I think you should own where you live. Also, owning close to home is an easier first step into real estate. House-hack by the room or find a property with a lock-off basement space to rent. Learn the landlording ropes inside your own space and then branch out.
Either way, if we're talking about long-term appeal, Denver's got it and ain't going anywhere in my book. It's got a base of diversified industries, amazing quality of life, great beer, legal weed, I could go on. Will prices have soared again in the next two years? Who knows. Will Denver look quite good in 15 years? Absolutely.