NEW! JUST INTRODUCING MYSELF AND SEEING OF IT!

[David Urena-Amaro]

"BRRRR" By David Greene is the first book I have bought on a subject about business and realestate. I was lead to "BRRRR" through a podcast that David Greene was on. (The Power Poject with Mark Bell) David Green's drive and character motivated me to follow the inclination of hard work that pays off. Very inspiring. That continued to me listening to "The Bigger Pockets Podcast", even though they're on episode 621 as of typing this; the podcast was started from the top! Long way to go as of episode 41 haha. I have always had a drive to work hard and pursue success; realestate has seemed to open that door in the past few months. With very little to no knowledge on the topic; I strive now to learn as much as possible ,and in future, have multiple properties. This platform was fortunately my first grab on being a part of something in the subject, for as much as it is worth as of now. Let this be my first post and hopefully many to come. I desire to be in my own backyard, and would love to see growth here; in my state of birth. As a hardwood flooring installer and sander, I'm no stranger to being around the scene of development groups and residential areas around Denver and areas of Colorado.

Allow me to introduce myself.

[J Zev J.]

Hi David, you've definitely come to the right place. Good luck on your investing journey!

[Eliza Sparks]

Hi David - Welcome to the community! I'm a real estate agent in Denver and was drawn to Bigger Pockets for assistance when my husband and I started buying properties to short term and long term rent. Now we're are the point where we're doing fix and flips and development projects! There's a lot to learn but it sounds like you're off to a great start finding this community. Best of luck and would love to connect!

[Andrew Garcia]

Hi @David Urena-Amaro, welcome to the community!

You seem very driven and motivated! I am excited to see your journey in real estate.

Let me know if I can ever be of assistance.

[Kayla Givens]

Hey, @David Urena-Amaro! Welcome to BiggerPockets! You're definitely in the right place if you want to get your foot in the door with real estate investing. My fiancè and I found BP in January of 2021 and purchased our first house hack in April of 2021. We now have 3 properties and are looking for our third right now! Would be happy to connect and chat more about the Denver market and some successful strategies - I'll shoot ya a PM!

[Ben Einspahr]

Welcome to the forums @David Urena-Amaro, you are in the right place to ensure your success long-term through real estate investing.

Denver is a fantastic place to invest (especially with it being in your own backyard) We have had amazing appreciation these last few years, so it is more challenging to cash now than before. The most important thing is being open-minded to different type of investing strategies. It is still possible to cash flow here, you just need to approach it differently.

House hacking is a great option since there are lots of ways to accomplish that here too. I've successfully done it personally multiple times and I have clients that have done it as well.

First step would be to take to a lender to get pre-approved, that will determine what properties that you can look at and what price points. They will be able to determine that based on your income and reserves. You can find a few local lenders here in Denver, or if you need one, I'm more than happy to recommend a few.

Next step would be to determine which property type fits your goals. There aren't many multifamilies here in Denver that cash flow due to the high purchase relative to rents, and most of them need work and have trouble qualifying for a FHA Loan.

The two best strategies for house hacking with todays market conditions in Denver:

1) Rent By Room - buy a large house (5+ bedrooms/3+ Bathrooms) in the Denver metro area (Thornton, Northglenn, Westminster, Lakewood and west Denver work great) and live in the master room and rent out all the other bedrooms. This strategy works great because there is a huge need for affordable housing here in Denver and paying 800-900 for a bedroom is a good deal for people that want to live here but can't afford a one bedroom apartment. With this strategy, you can expect to live for free and make $500-$1000 per month cash flow. It is a little more work in the front end (ie. furnishings, finding 5 tenants, signing leases), but it is worth it! It also come with first hand experience being a landlord

2) Traditional house hacking through Airbnb - similar to the above strategy, Airbnb is a fantastic one as well since Denver gets a lot of tourists. I've seen clients live upstairs and rent out the basement on Airbnb, so you get the best of both worlds, privacy and your own space while the lucrativeness of Airbnb. You may not be living for free but paying $1000/ month to own a home is much better than paying $2000 in rent.

You are in a great position, and Denver is a fantastic place to live and invest. Looking forward to reading your future success stories!

[Joshua Messinger]

Hey @David Urena-Amaro! 

Welcome to bigger pockets and I wish you the best of luck on your future endeavors.

If you ever need anything don't hesitate to reach out! 

Best of wishes,

Josh