Just because we work for an online company doesn’t mean we don’t like to meet investors face-to-face — and we had the chance to do just that in our latest interview! Kevin Fletcher — a real estate agent in the Denver Metro area, investor, and former professional basketball player — paid a visit to the BiggerPockets headquarters to talk about how he started out and what he’s focusing on today.
As we all know from recent reports, Colorado (and Denver in particular) is seeing a huge influx in housing prices — in fact, our very own Real Estate Investment Market Index for 2015 named it #1 for residential property appreciation. While it’s fun to see a city transform from mid-sized and slightly rough-around-the-edges (I see you, Colfax Ave.) to a booming community/”Hipster Hotspot,” it also doesn’t necessarily make for the best cap rates, and deals can be nearly impossible to find.
What this means is that investors are left to think outside the box.
After analyzing traditional deals and not seeing the numbers he wanted, Kevin turned to an area many investors don’t consider: retirement communities. While perhaps not the most glamorous niche (or is it?), condos in retirement communities offered the lower prices Kevin was seeking without major structural issues to tackle.
****Are you an investor in the Denver area? Interested in chatting with us about your investing life and all the cool things real estate allows you to do (like travel the world or work from your couch while cuddling with your dog and eating waffles)? Give Hilary ([email protected]) or me ([email protected]) a shout to see if you’d make a good fit for an interview!****
How to Estimate Rehab Costs!
Estimating rehab costs accurately can make or break your real estate business, and it takes years of experience for even the best rehabbers to master the art. However, you can expose yourself to less risk and get more accurate with your projections by learning how the pros think when estimating construction costs.
What to Expect From This Interview
Tune in for some awesome insights on:
- How a pro basketball player got bitten by the real estate bug
- Why he decided on condos and retirement communities
- What he learned during the rehab process
- What it’s like to work with an HOA while rehabbing
- Tips for newbies looking to be where Kevin is
- Where he’s looking to invest next
Pictures & Numbers
For the Basketball Fans
Investors: Would you consider investing in retirement communities? Why or why not? Any questions about this niche?
Leave your comments below!