Rental property in the best neighborhood in Denver
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $580,000
Cash invested: $120,000
Smallest home in the best part of town. My business partners and I purchased this to improve in the next year or two - plan to add +/- 1,500 SF when the construction market cools a little and material costs come down :). In the interim, we did a small energy upgrade, including increasing attic insulation by 4x, insulating water heater and pipes, caulking and gap sealing, added LED lighting and 220 V power to the garage for EV charging. We also added some interior work, such as a new install of a recycled door and hardware. Doing our part to lessen the impact that our homes have on the planet!
What made you interested in investing in this type of deal?
The opportunity to improve and add onto the home - small home set between two big ones creates great opportunity
How did you find this deal and how did you negotiate it?
The listing came out on Zillo - our high energy and effective real estate partners - Nicole Rufener and Antionette Wharton - counseled us on making a strong offer and made it happen
How did you finance this deal?
Conventional fixed mortgage thru Bank of the West in Boulder
How did you add value to the deal?
We've completed severl energy improvement and are mustering our Architectural talents to design expansion opportunities
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nicole Rufener and Antionette Wharton of Mile High Modern in Denver - best ever
