All Forum Posts by: Derek Hutson

@Chris Lopez that would be great! I’ll send you a message with my email. 

@Chris Lopez well DMAR seems to be great for picking up on buying/selling trends and costs.. I think it would be helpful to see more info on rent trends, maybe what suburbs/areas are becoming more popular.. for example I strongly believe the area up by DIA is going to be a big hotspot in the next 5-10ish years

Hello BP world,

For my investors on here in the Denver metro area, I am curious as to what resources you use to gain insight into the current state of the housing market here in Denver?

Currently I use DMAR's monthly reports and trends, but it would be nice to get some info from multiple sources...

@Greg Moore You are right that technology is the way of the future... but there will always be a place for the human brain!

Example: If you continuously feed a computer data from the cost of renovations in a neighborhood (gathered from contractors, construction companies, etc...), broken down into subcategories, you can maybe see that exterior renovations generally cost more than kitchen/bathrooms etc for the majority of properties in that area...

Then you could start to come to more educated conclusions of maybe what material to use for a deck foundation because it turns out the extreme humidity wears out certain materials faster than others, and who you should hire to do the work based on a calculated average of cost vs. positive reviews for each contractor..

This is a pretty simple and limited example, but I guess my point here is that data and ML will absolutely help you identify certain trends with more precise accuracy, however it still requires a thinking brain to figure out why that trend exists, what direction that trend is going to go, and execute a plan based around your newfound insights.

@Michael Noto She used to be not on board with real estate investing at all, now she at least sees the light with that.. I believe a duplex is going to be the answer I need

@Mike Cumbie Yes, roommates are for sure going to be a short term strategy to set us up for long term (independent-living) success.. If marriage and real estate were easy things to do everybody would be doing them 😂

@Zachary Nussbaum All sounds good to me! I agree that a thorough background check is important... I plan to even go so far as to go visit their house with them so I can see how they treat where they live. I can't imagine a good, clean, trustworthy tenant would try to hide anything or be fidgety during a thorough application process.

@Matt M. Not that I want roommates forever (or for an extended time even), but I feel if they can be a proper roommate, they could be trusted to do well living as a tenant on their own (long term tenant when we move out maybe?)

@Natalie Schanne Yes ideally our roomies would be ghosts, the one we have now that we will potentially keep already is.. 1-2 more years max for having roommates is where I am at, I believe her seeing the $$$ she saves on expensive rent will help.

@John Teachout awesome.. was there an issue for you/her with the turnover using airbnb and always having new tenants?

@Daniel Sager good points! That is what I keep telling her... it is just 1-2 years to set us up for decades of success

@Adam Vadnais I agree that letting her be in control will help, good point.. Also will help to have a well written and inclusive lease contract!

@Dennis M. I wouldn't want to be forced to live somewhere without any opinion on it because of business decisions, would you?

@Daniel Haberkost That is a great opinion thank you. I'm gonna send you a quick message!

@Todd Rasmussen That is a great point that communication is important for the long term. I will look into the college hunks :)

@Colleen F. A good first experience is a great point! Would definitely make it easier in the long run to make bigger decisions also

@Joe Splitrock Common sense says you should always consider the negatives in real estate investing. So I do. You could have saved a lot of typing by just using the last 2 sentences :)

@Kris L. Yes I have heard about ADU's, not familiar with the legal hoops of them in my state though so mostly considering duplex/triplex.

@Isaac S. Sounds like you watch a lot of movies.. if there is a body in a carpet I get a free eviction of a horrible tenant. We will not be investing in studios or 1 beds.