How hot is the Denver multi-unit market? Is it most common to offer above asking? Also, what percentage of them would you say are cash offers?

@Leah Brooke I have no idea about the Denver market, but never consider the list price as your starting price. You need to look at the comps compared to the property you’re buying and start there. Remember, The list price is only what the person selling it THINKS it’s worth.

@Leah Brooke Generally speaking the Denver market has been pretty hot for MF properties over the past few years, although it has been cooling off slightly just in the past few months. Whether or not properties sell for above ask or to cash buyers or not really depends on the specifics of the property, most importantly location. Denver is a big city with dozens of sub markets that vary dramatically. For example many properties in trendy areas like RiNo and Highlands are selling above ask to cash buyers (if there priced right to begin with) while buildings in less desirable areas will have less competition. So there answer is it depends but generally speaking yes there has been a lot of competition for MF properties in Denver over the last few years so it is not uncommon for properties to sell for over asking price and cash purchases are also not uncommon. I’ve managed to find a few good deals over the past few years though, it’s not impossible especially if one is willing to do some value-ad.

@Leah Brooke AS others have stated, the Denver MF market is hot, but cooling off ever so slightly. I'm curious to see what the drop in rates do to it, as it should increase demand since money is getting cheap again. With multi's you really have to dig into the actual numbers vs the pro forma. Many owners and listing agents have very optimistic pro forma numbers! That's where you often get negotiating power. So far this year, I've purchased 5 multis (1 for me, and 4 for clients.) Two were on the MLS and three were from my network. I've found networking for multis pays off way more than for single-family homes. That also may be due to my focus on rentals, not flipping. The two MLS properties were below list price. We negotiated the price down because of deferred maintenance and their pro forma numbers. The other three properties' prices were agreed upon on over a handshake

It depends on the property, DOM, etc. I always call the listing agent to get a feel for the activity of the property prior to sending an offer. Your broker should be doing the same thing and advising you on how to play it.

Making offers on multi-units— asking or above?Making offers on multi-units

Back

Resources & Media

Resource Hub Bookstore Blog Guides Pro-Exclusives PRO Podcasts Pro Partnerships

Events & Training

BPCON2025 Webinars Upcoming Events Free Courses

Strategies

How to Manage Your Rental Property How to Operate a Short-Term Rental How to Passively Invest in Real Estate How to House Hack How Does the BRRRR Method Work How to Flip a House How to Invest in Commercial Real Estate How to Invest in Real Estate How to Invest in Multifamily Real Estate How to Build Wealth

Invest More Confidently

Join the real estate investing community that’s helped thousands of people achieve financial freedom.

Start Free Trial

The Podcast Investors Trust

No fluff. Just deals, strategies, and lessons from the front lines of today's market.

Listen Now

Back

Pick Markets

Market Finder - NEW PRO Picking a Market Workshop PRO Picking a Market Worksheet Top 100 Cash Flow Markets Market Insights - Sunbelt Region

Market finder

Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent-to-price ratio, and more.

Pick Markets

Pro membership

Get unlimited access to tools and resources that make it easier to find, analyze, and manage deals with confidence!

Upgrade to Pro

Back

Find Deals

BiggerDeals Off-Market Deal finding PRO Real Estate Syndications Investor-Friendly Agents Find Foreclosures Community Listings (FSBO) Business Directory

NEW! Find Cash-Flowing Deals Fast

Search nationwide listings with built-in cash flow analysis.

Find Deals

Invelo - off market deals

Scale your portfolio with off-market deals.

Explore Now

Back

Calculators

Rental Property Calculator PRO Rehab Estimator PRO Rent Estimator PRO BRRRR PRO Fix & Flip PRO Short-Term Rental PRO Sell vs. Keep PRO Landlord Insurance Calculator by Steadily All Calculators

Rental property calculator

Is it a good deal? Run your numbers like a pro with this simple yet powerful calculator.

Run the Numbers

Rent estimator

Understand how much rental income you can expect based on recent reports and data for your specific property.

Run Report

Back

Manage Properties

Managing Properties 101 Find a Property Manager RentRedi Property Management Software PRO Baselane Automated Bookkeeping & Banking PRO Property Management Tools Ask a Management Question Finding Tenants Screening Tenants PRO Leases + Landlord Forms PRO Property Insurance Property Maintenance / Rehab PRO

Property management software

Manage tenants, tasks, and your entire portfolio with one simple tool.

Activate Now

Property manager finder

Find reliable property management partnerships that last.

Find a Property Manager

Back

Plans & Pricing

Pro Membership Business Membership

Try PRO for 7 days completly free

Avoid mistakes and make informed decisions with Pro.

Start Free Trial

Grow your business

Promote your business on BiggerPockets and make quality connections with the right investors.

Sign Up Now

Back

For You

Newest Unanswered My Discussions Followed Discussions Followed Categories Followed Locations Followed People

General Real Estate

General Real Estate Investing Starting Out Deal Analysis Buying & Selling Business & Marketing Landlording Property Management Reviews & Feedback

Real Estate Strategies

House Hacking BRRRR Short-Term Rentals Mid-Term Rentals Multi-Family Fix & Flip Other Strategies

Finance & Financing

Lending Creative Finance Personal Finance Taxes & Legal Issues

News & Announcements

Official Site Announcements Market Trends & Data Real Estate News & Current Events Pro Exclusive Area PRO

Events & Networking

Events & Meetups Classifieds

Back

All Books

Best Sellers Browse All New Books & Pre-Orders Bundle & Save Books for Beginners

Unlock hidden potential in every property and maximize returns

This is your creative breakthrough guide to escaping investment paralysis and unlocking hidden profit in any market.

Get Your Copy

Build a Cash-Flowing Glamping Business with High Equity Upside

Whether you're starting from scratch or expanding existing hospitality operations, learn the practical frameworks needed to capitalize on the growing demand for upscale outdoor experiences.

Learn More

Making offers on multi-units— asking or above?

Most Popular Reply