All Forum Posts by: Craig Curelop

@Tom S. - I mostly take single family homes and turn basements into the additional dwelling units. People always assume ADUs need to be detached... but you can just as easily rent out a basement as you can a separate unit. 

@Dan Barr - unfinished basements are semi-rare to come by. Many times all it takes is ripping down a bit of dry wall and adding some plumbing/electrical. Depending on the way the house is set up and the connections you have it can be fairly inexpensive to do so. 

@Dan Barr - All of these strategies above work great. I have been scaling my portfolio through purchasing single family homes and converting basements into mother in law suites and renting out both units. 

 I like this because the entry price is cheaper than multi-family, there are less rules than with condos, and you can still cash flow $800+ per month pretty easily. 

@Bryen Blankenship - Denver and Austin are both great cities! You can't go wrong, especially if you build the right team around you. However, I would second @Jordan Moorhead's advice in sticking to your backyard if you can. 

@Nicole Heasley Beitenman - Roomster, Roomies, Apartments.com, Rent.com, FB Marketplace, FB Groups are some of the best that I have experienced. 

Thanks for the recommendations @Russell Brazil and @Dan Sheeks! 

@Gytenis B. - I have helped quite a few investors & house hackers in the northern suburbs of Denver as well as up in Loveland, Greeley, and Longmont. Also have a few properties that I own myself spread throughout Thornton, Westminster, and Arvada. So I would say I know these areas pretty darn well. 

@Dan Mackin and @Chris Lopez are also great. You won't go wrong with either of us. If I were you, I would interview all three of us and go with whoever you feel most comfortable with :). 

@Cody Bell - Congratulations, Cody! That's a great area! Hold onto that one for as long as you can. 

@Daniel Toshev - It is entirely possible to get things CLOSE to the 1% rule here in Denver. You just need to get a bit creative. The rent by the room strategy or adding a mother-in-law suite allows you to get pretty darn close to the 1% rule. 

All of my properties in Denver are very close to the 1% rule and cash flow me $500 to $1,000 per month.

@Mike Paisley - Congrats man! The hardest part in saving for your first down payment. 

Multi-family is tough in Denver. You can find things that work... but they just won't cash flow nearly as good as any rent by the room type of investments. Though, they are much less work. 

I have had clients successfully execute the rent by the room model up and down the front range. You will just want to be careful of occupancy limits. 

As for specific towns, I have seen the most success in Arvada, Westminster, Thornton, Lakewood, and Loveland/Greeley up north. In Greeley, you need to make sure the zoning is right. 

@Dan Baran - Welcome to BiggerPockets! It is great that you are considering house hacking here in Denver. It certainly is a great option.

While some others like @Brian Ellwood may have not been able to find success.... if you think a little different and a little bit creatively, there LOADS of properties out there that can and will work. I've personally done four house hacks myself in the last 3+ years (since June 2017) and each one cash flows me about $1,000 per month. 

I have also helped loads of other people find house hacks that cash flow in the Denver metro market consistently over the past couple of years.

@Daniel Lao - Welcome to Denver and Welcome to BiggerPockets! There are plenty of opportunities all around Denver. You just need to get a little bit creative. The 2-4 unit is doable here, but can be a bit more rare to find. If you get more creative, you'll be able to get a higher cash flowing asset for a much smaller investment. 

One thing we do a lot of (and help people do) is finding single family homes where a mother-in-law suite can be added and both units can be rented out. That way you get the price of a SFH with the returns of a duplex. Win-win.

Happy to chat more. Feel free to shoot me a message!