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Updated almost 11 years ago on . Most recent reply

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12
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Luke Evans
  • Real Estate Investor
  • Denver, CO
1
Votes |
12
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Continue renting or buy primary

Luke Evans
  • Real Estate Investor
  • Denver, CO
Posted

So I'm just starting out in Denver, and my ultimate goal is to increase my cashflow. I'm currently renting at an apartment in the Highlands for $1,300 a month and I'm not pocketing much after expenses each month. 

Basically I'm wondering if I should keep renting and use my 25K savings to invest in a rental that would (hopefully) add income. Or if it would be better to use that money as a down payment on a condo as a primary residence. 

I am finding places near capital hill that look like I can keep my expenses down around $1,000/month including HOA, taxes and insurance. I'm not convinced that I'll be able to find a rental property in the Denver market that would net $300 each month.

Any thoughts? I just want to make sure I'm not missing anything!

Most Popular Reply

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1,899
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725
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Anson Young
  • Flipper/Rehabber
  • Denver, CO
725
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1,899
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Anson Young
  • Flipper/Rehabber
  • Denver, CO
Replied

If you are buying a primary, I'd buy a duplex or something you can rent part of it out for increased income and reduced living expenses.

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