Hello BiggerPockets tribe,
My family is looking to dive into real estate and purchase our first single family home.
Seeking recommendations for an experienced, fair, and trustworthy real estate agent around Denver / Littleton who has experience working with out of state buyers.
- - We have our eyes on a specific property in Littleton, CO that we'd like to move on quickly, but are also looking at homes around the greater Denver area should that property fall through.
- - We are located in CA and would move to this home in CO as our primary residence.
- - My husband and I have done some research into homebuying but again, this is our first real estate purchase and one that will be conducted from out of state during the pandemic.
Any recommendations for great agents who can help us quickly jumpstart this process? Thanks in advance, we appreciate your help.
I have used Mimi Kemler of RedT Homes in Denver to buy and sell our single family properties. We did all of our transactions from Seattle--usually never seeing the house. She was easy and honest to deal with.
First step is speaking with a lender. Our market is really hot right now especially for SFR. When are you headed out?
Hi Morgan! just PM'd you
Hi @Morgan Martinez - I performed 2 transactions for out of state buyers in the past year. I know how to get you "in" a property virtually to get you a better idea of what you're looking at. We can work together to make sure you have a great feeling for what you're buying before you make the trip here. I am actively searching for 5 active buyers, so I have good idea of what is out there.
@Morgan Martinez I have an amazing lender for getting prequalified. Will PM you info.
Hi @Morgan Martinez! Glad to hear you are moving out this way. If you don't mind me asking what is your goal with this purchase? You stated you and the family are looking to dive into real estate. But are you simply looking to relocate out here and purchase your primary residence, or are you trying to make an investment at the same time?
@Matt M. stated it is important to have a lender lined up, and be prequalified for a loan, or have cash on hand to close on the property. No offer is going to be considered by sellers if it is not accompanied by a Pre-approval or proof of funds.
Since you are posting this here on BiggerPockets, I am assuming that you are looking to get into Real Estate Investing? So, since you have a family I am assuming that you aren't wanting to do a house hack and rent out additional rooms in your single-family home, or Airbnb it out on the weekends? But I would be interested in seeing if you had thought about doing a traditional house hack and looking into small multifamily as an option? Buy a duplex (or bigger), live in half, and rent out the other side. This way you would be able to offset some of your mortgage with the rental income, and then when you did move out and move onto the next one, you would have a nice cash flowing multifamily property.
Most realtors on here are going to have experience with out of state buyers, and while it might seem exciting to jump on a property to get out here I would take some time and think about what you are trying to accomplish. Why not make your first real estate purchase an investment? Thinking how can you turn the liability (which a mortgaged property is) into a true asset, and in turn provide a better foundation and future for my family.
Thank you all for your help! I really appreciate everyone's insight and all of the PMs.
@Ben Rhodin Thanks for the information, I really appreciate you taking the time to provide such a thorough response. We're considering duplexes and single family homes at this point but haven't decided which way to go. You're right that we need to think on it and decide what we'd like to accomplish before diving in.