Colorado Market, Long Distance Investing all the way from Texas!!

[Chukwuemeka Ogbonna]

I am a rookie and I am looking for my first property, and although I live in Austin, Tx....I have been looking in Colorado as well. I have been glancing at properties on Zillow, Trulia, Redfin, Realtor, etc. There is a chance I may move up there for a job promotion, and I just want to be prepared. What are the best ways to learn about the Market there (Denver and surrounding areas) and what should I look for?

[James Carlson]

@Chukwuemeka Ogbonna

First off, a premature welcome to Denver! It's a great place to be. More sun and less humidity and heat than Austin, proximity to mountains, and a solid job market (or what used to be a solid job market. Who knows what the next few months/years will bring.)

It can be tough to understand a market without living there for awhile. That's okay. You can search for Denver in this forum or Denver and house hacking or whatever it is you hope to do and you should find some good content. If you ever come out here, you can attend a few investment clubs or meetups, as well.

Your idea to house hack is a good one. We've had a number of clients do well with it. (You can see their deal diaries here and here.) That's the rent-by-the-room model. You can also buy a duplex, but that's a steeper entry price point. A third option, if you like having more privacy, is to find a SFH with a basement apartment or some sort of separate entrance to the basement that would allow you to rent that out. We have a number of clients who have also done this with success.

I wish you the best of luck!