"Best suburbs" depends on your investment criteria. If your budget is all in $250,000 then you will face strong competition to purchase. Inventory is low, but not impossible to find. You might be limited to condos.
Is this an investment property? Your residence?
If you can provide a little more detail, perhaps I could point you in the right direction.
Thanks for your thoughts.
Below is an expanded criteria of what I am looking for in terms of suburb:
>> Long term buy and hold (investment)
>> Return of 6%+ ROI rent (annual rent divided by property purchase price) - if this is achievable whatever suburb comes closest
>> Stable capital gain
>> Low crime
>> Low vacancy rate
I am going to be in Denver from 11th to the 15th November - I'd be interested in checking out some available stock in that period if you have something that meets the criteria?
Let me know what you think.
Hi Katie - thanks for the clarifying questions. I'd be coming in with conventional financing. I'd be open to purchasing a townhouse in a good suburb, but wouldnt want something that needs a lot of work. What budget would you suggest for that / what areas would you be looking in?
Hi Daniel, there are some great properties under 300k but 300k is a good starting point. As for neighborhoods, the most ideal in Aurora is usually the homes in the Cherry Creek school district. There are also opportunities near the hospital that can really be good investments. You can be set up with a property search in these areas. Have you found a local lender that knows international lending?
@Daniel Green the greater Denver area can be tough - but Colorado is a big state and there are other areas (like mine) that have decent properties in your price range and are desired by renters. You didn't explain: Why Denver area?
We help clients pick up properties all the time in Aurora in that price range (and under.) You won't find multis in that price range. Ready to go 3 or 4 bedroom condos or townhomes won't be an issue. We even find some with simple value-add plays (like adding an extra bedroom for a few grand) in that price range.
Using your ROI metric for 6%+, it shouldn't be an issue. Of course paper returns are different than walking properties!
Give me a call...
I will be available. Just give me a heads up when your plans are firm.
Hi guys, sorry if this is an old thread, I am in no way experienced whatsoever, but I know, in three years I want to buy my first rental property in cash. So I am looking around, window shopping, and I cannot understand what is "wrong" with this listing.
- MLS ID: 4744151
- Parcel number: 900067740001
I saw the HOA fees are really high, but still, rent in that area seems to be high as well.
Can anyone explain to me why this is such a low price? I am trying to learn, so any help will be appreciated. I don't get it..
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