Denver Podcast #40: June Roundup - House Hacking In Aurora
@Charles Roberts and I just wrapped up the June 2018 roundup webinar (our monthly "let's grab a virtual cup of coffee and talk Denver real estate investing.") We had technical difficulties and had to record over a conference call line. The audio is not up to our normal quality, but the content is!
Topic #1: Denver Monthy Market Snapshot
Commentary: Market hasn't changed much. Still a sellers' market. We discussed "Wait for the market vs dollar cost averaging and buying now."
Topic #2: Investing Indicator: Denver Renters Are 'Demanding' and Want In-Unit Washers and Dryers
From the Denver Business Journal 6/28/18:
Denver renters have been described as "demanding," and the one feature they want — in-room laundry — is the hardest to find. That's according to a new report from Apartment List, which indicated that 65 percent of Denver renters are looking for units with washers and dryers, but only 26 percent of units have them. On the other hand, Denver renters aren't really looking for cat-friendly units, which is the most oversupplied amenity in the city.
Commentary from Charles: Washer and dryers are about 47th on the list to worry about! He puts dishwashers at 44th on the list. From his experience, he doesn't supply the washers and dryers. If previous tenants leave them, he gifts them to the new tenants and tells them they have to deal with issues. Charles did an analysis of his portfolio and is at 0.8% vacancy over the last four years.
Topic #3: Duplex Listing in Aurora
Charles listed a duplex for a client at 323 S Yoast St. Aurora, CO 80012.
- 4 bedroom (2 non-conforming, no egress window, but easy add) and 2 bath units
- Each unit is 1,845 sq ft.
- Market rent is $2,000 per unit
- Listing price at $525,000 (already under contract)
Topic #4: House Hack in Aurora
House hacking is a great way to build wealth. One of our clients is buying his second house hack. A few years ago he purchased a duplex and is ready to buy another property to continue to build his rental portfolio.
- 5 bed / 3 bath house with a detached 4 car garage (currently rented at $300/mo by the previous owner.)
- Full kitchen and 3 bedrooms upstairs.
- Small kitchen, 2 bedrooms, and a separate entrance.
Podcast Listening options:
- Search for "Denver Real Estate Investing" in your podcasting app.
- Listen on website at DenverInvestmentRealEstate.com/Podcast40
- Listen on iTunes / Apple's Podcasting App
The house hackers will leave in the basement and rent out the top unit to maximize rental income. It's a short-term sacrifice for long-term wealth creation.
Enjoy the show!
Chris Lopez
Investor-friendly Realtor
Your Castle Real Estate
303-548-0846
DenverInvestmentRealEstate.com
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