All Forum Posts by: Jeff White

@Kiley Marvin Great work, looks like a solid long-term investment with a variety of options to maximize cash flow.

@Alexander Mears Welcome to Denver!  

 Similar to Steve, I also like the west side of Denver since you have those supply restrictions and good price points for house hacks in Lakewood and west Denver neighborhoods (Barnum, Village Park, Valverte,Westwood, Athmar Park, etc) near 6th avenue, and you find more properties that already are split up with mother-in-law basements, additions, separate entrances, etc that make great candidates for house hacks. In those areas, you can find a solid house hack between 400-450K. 

I'm also a fan of the north and northwest part of Denver metro as well: Thornton, Northglenn, Westminster, and Arvada. Solid price points while still close to downtown and the mountains, and also, price points for a good house hack between 400-450K.  

Where's my man @Craig Curelop to vouch for northwest Denver?? 

As you will find out, the closer that you get to downtown Denver, the more expensive the property will most likely be relative to similar properties in the areas that I mentioned above.

The best strategy to maximize cash flow in the 2020 Denver market is the rent-by-the-room model, which I'm sure you are familiar with if you just graduated college.

The strategy is simple: purchase the biggest single family house that you qualify for with the most number of bedrooms/bathrooms, and then live in one room and rent out the others. Even in this market of high prices for a house in Denver, you can easily cash flow $1,000+ per month. It is more work than a traditional rental since you have more tenants, but since you are living there, you will learn a lot by self-managing and getting hands-on experience. 

@Craig Curelop is the man. I highly recommend him as your real estate agent if looking for a Denver house hack!

@Anna Chan Based on that information of two leases ending in Dec/January and that this is a good deal, you can renegotiate the leases once you acquire the property.   

Just because the seller can't or doesn't want to change anything, it doesn't mean you can't change it later. Once you acquire the property, talk to the tenants or have your property manager do that, and then shorten the leases to end in Aug/Sep or extend them to the Mar/April.    

Ideally, you don't want leases ending in Dec/Jan in Colorado since that is right during the holidays and during the winter.  Also, most people don't like moving during that time either, so it can be a win-win for both parties. 

@Chris Lopez is a great realtor, and I highly recommend him.

@Cody Bell Congrats on your first place, and Villa Park is definitely a great spot for long-term appreciation with its proximity to the lightrail and downtown Denver. I'm seeing tons of new builds coming over there as well. 

@Angie DeNardo Congrats, sounds like a great deal that worked out well for you. Arvada is an awesome suburb.

@Carolyn Chupa I'm also in Denver, and I can tell you that your future tenants won't tend to the yard, at least not in my experience. The best thing you can hope for is that the mow the grass. It only takes one tenant to neglect the grass, and then weeds will take over and you will have to start over. 

Personally, for all of my properties, I xeriscape everything, especially with mulch and rocks. There are recycling places that offer free mulch too to save on costs and environment. 

You can still appeal to tenants without lots of grass. 

Also, by thinking long-term, which one sounds better, sending someone there every 2-3 weeks for 6 months when the weather is warm to pull weeds, cut the grass, aerate the lawn, etc, or, xeriscape the yard now, and save on those future costs later? 

@Dan Baran Since you are a young guy and don't mind moving, the best house hacking strategy in Denver right now is to house hack by buying a large single family house and renting the rooms. There are lots of high 300k, low 400k price point properties that are nice and well taken care of. You can find a bunch that will cash flow you over $1k/month after all expenses. It is more management intensive, but you will get a great education on being a landlord. 

Also, there are lots of 5% down payment loan programs that you can really utilize to maximize your ROI. Also, technically, you can live in your camper van and still get a primary residence loan as long as you are physically parked on the property. You can also Airbnb your room or rent it to a normal renter too. Where's my vanman @Craig Curelop at ??

Since you think you might move in a year, switching the property to a normal single family with a property manager, you probably will breakeven or cash flow a little best case scenario if renting the whole house to a family. The good news is that you will get the benefit of investing in Denver, and Denver is a 

@Frank R. Hi Franklyn, I'm a local Denver investor, and also, currently, I'm under contract on my third house hack using Chris Lopez and his team, they are experienced full-service real estate professionals that have the expertise to help you find and succeed on your house hack here. 

They will have find, identify, analyze, negotiate, and help you close. They are investors themselves, and they specialize in house hacking clients, it is their niche, and they are awesome at it. All of those reviews are real, and I highly recommend him.  

Additionally, Chris continuously provides great free content on his website and blog. I would listen to a few of his deal analysis YouTube videos to get a feel for what types of deals are out there in Denver right now, and the reason why it works for that particular investor(s). 

Feel free to PM for any questions.