All Forum Posts by: Nick Cooley

Also! One last thing - I wouldn't overlook Castle Rock @Brian Fiorillo. It's about 20 min south of DTC (maybe 45 min in the worst case scenario traffic,) and would allow you a relatively easy, albeit a bit longer commute to the airport via 470 - 45-60 min. I think the pricing would be more in line with your workable budget as well and is an area that is exploding with growth. 

For fear of repeating everyone else, I'll also chime in here in hopes that some part of it is of assistance to you and your fiancée. 

I agree with @James Carlson that the part of town that will be best suited for the style of home you are looking for is likely in Northglenn, but I'd also add in southern/western Aurora - which would be much better for both of y'alls commutes. 

@Chris Freeburg brings up a valid point as well regarding your budget as it will be a major limiting factor in most parts of the Denver metro area considering the avg detached single family price is now north of $650k. 

I would love to share more advice on which "areas to avoid," but without knowing more about what you're looking for, it's hard to guide you. For a city of its size, Denver is very safe and there's a reason why so many people love it. Bring your powder skis, a willingness to develop an affinity for Double IPA's, and some chapstick and I'm sure you will love it here! 

Hey Katelin, this question is very subjective and the answers you’ll receive will vary largely on investor strategy, preference, risk tolerance, and 100 other variables. 

Personally, I prefer Cash on cash returns to be the best metric for qualifying a rental property. Assuming I can safely get 8% compounded returns in the market, a real estate deal that can net me 10-12% is worth looking at. 

Hey @Dasia Washington, as somebody who has lived in Denver and Scottsdale, I think you'd be happier in Denver based on wanting a "less conservative and more diverse environment." While both have pros and cons, Denver seems to align more with what you want from the city where you spend your time. 

The business points that have been made (managing where you live vs something far away, house hacking, and buying where you will likely end up,) are all great points and I agree with each of them. However, after living in Austin, Scottsdale, and Denver, I won't be leaving Denver. Hope this is helpful! 

Hey @Carolina Brembilla, I’ve lived in Scottsdale and Denver the last 6 years. Would love to connect and share whatever information I can use to help.

@Evan D. I apologize, I was just posting to share best practices. Our properties are all currently rented 😊

Hey @Evan D., congrats! 

My wife and I specifically do rentals in the Denver market for travel nurses. Let me know if I can ever help.

Yep. Harder to measure on a spreadsheet than Mahomes' QBR or TD:INT ratio, but the people living in Denver can still tell you there is a bigger influx of fresh buyers than ever and I don't blame them. We have lived in Lincoln, NE, Austin, TX, and Scottsdale, AZ in addition to Denver and there's a reason we call Denver home. 

All great points. 

My wife and I have begun playing the game of seeing how many different out of state license plates we see when driving around town. Needless to say, I don't think the "hype factor" surrounding Denver that is contributing to the short supply seems to be fading out anytime soon. 

Kudos to finding what seems to be a good deal based on the numbers! 

As others have cautioned, usually when something sounds too good to be true, it is. However, if your team has vetted and validated some of the pitfalls of your first deal, sounds like you found a winner!