Who's flipping in Denver right now?

Question

Would love to connect!

For most of this year I've been looking at flip/BRRRR opportunities out of state due to high prices in my local market (Denver area) but after a lot of analysis paralysis and fear around doing rehabs long-distance, I've decided to focus on pursuing local deals. It seems like the market here is still hot enough to support flipping, as long as you buy right.

If anyone is willing to share what is working/not working for you in today's market, I would really appreciate it!

Matt M. · Answer

Put 2 UC this week. One on market and one off. Deals are there if you have the right network.

edit- If you work for a company with the initials NW, do NOT contact me. I won't do business with either of you.

Ben Rhodin · Answer

Hey @Charles Schmidt! There are definitely still opportunities, even in the "lower" price points here in Denver, and the surrounding areas. I personally flip in today's market, and have one going on currently. Beyond that, I have a handful of clients that are currently looking, or working on flips. I will agree with @James Carlson that a lot of the deals that I look at won't pencil, but you have to know how to negotiate them and weed through the trash. Most of our flip properties don't get picked up at the advertised price, and we have even negotiated seller-financed flip deals. Happy to connect more and help in any way I can!

Brett Deas · Answer

The lower the price the better. Yes smaller margins, but safer and easier to sell.

I work with a few flippers in the metro area and the most successful one (by-far) flips alot for cheep condos. There are smaller margins, but also less costs because they are so cheap, and they within the week being on market. There is less risk because they don't have crazy high holding costs and repair bills.

Feel free to reach out if you want to talk more.

Account Closed · Answer

Agree with everyone above that there's been a slowdown in flip volume and a significant amount don't pencil (on Market). The ones that do/have realistic sellers will have success still. I see condos as a safer bet with time of completion and pricing. Best flippers I know currently are ones with established networks & trusted contractors ready to go, both of which can kill a project.

Ruben Helo · Answer

Deals are there! Having good contractors is key!

John Galloway · Answer

Yes! Activity is down, however, it is possible to flip in Denver these days.

We are currently marketing a flip and will be looking to pick up another before the end of the year. Flipping for us in this market equals being very picky and sticking to our hurdle rates, which means lower volume. There are so many deals that don't pencil, but the ones that do seem to do well for us.

Let's connect if you want to talk more granularly about strategy and market.

James Carlson · Answer

I'd be interested to see if you can make something work. We focus more on buy-and-hold STRs and MTRs in the Denver area, so that's not our focus, but I do look at some of those potential flip homes. I just don't see the numbers working on any of them. Rates are too high, labor/materials too costly, market stabilizing so you don't have the crazy appreciation to bring your a profit.

Anyway, maybe some other Denver realtor out there sees something.

Jackson Kyhl · Answer

Hey! I'd love to connect!

Who's flipping in Denver right now?

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