Multifamily In Colorado

[Brandon Velikaneye]

The prices I'm seeing for multifamily units in Colorado are way too high. Or am I just looking in all the wrong spots? I have a Realtor that has me on the mls. Along with my self searching loopnet every hour of the day. Where else could I look for something that at least brings in decent cash flow after putting %20 down?

[Account Closed]

Are you working with a residential real estate agent or a commercial multi-family agent? A commercial broker who is well connected and can make deals offline would be worth looking into. There is also the wholesale marketplace.

The web/online marketing person in me would love to develop a crowdfunding or classifieds website just for local (Denver only) investment property listings. Maybe there is already something out there.

Side Door did recently launch.

https://www.sidedoorinc.com/

[Joshua Meyers]

Brandon Velikaneye There are some deals on multi-families around but they definitely seem pretty few and far between.

[Charles Kao]

Brandon Velikaneye I used to work at Loopnet and I can say that the listings on there are difficult to work with because you are getting national exposure and many people use it because they cannot sell in their local market. I would mainly use it for research but unless you are trying to break into a market you are not familiar with that's probably not your best resource. Now that is not to say you cannot find deals on Loopnet and its a great resource to find boots on the ground. As for your local market I think the local REIA is going to a good place for you to start.

[Bill S.]

@Brandon Velikaneye Denver is one of the hottest markets in the Nation. So the first question is what are you comparing it to? When you are seeing 9% per year annual price increase you don't really need much cash flow to have good returns. I know appreciation is not a sure thing but that is how our market is priced right now. If you are not comfortable with that you need to find properties that are not heavily marketed or look in a market that does not have the appreciation we have had. At any rate overall due to the risk of the stock market and the availability of cheap money real estate in general and compared to historic norms is very over priced. Metrics are based on averages over time. In good times (high prices) are difficult to meet and in bad times (low prices) are met by even over priced properties that don't sell. You just have to figure out what you are willing to stomach and then go get it done.

[Account Closed]

We have a project that we are doing in Colorado Springs that might be of interest. Give me a call and I will fill you in. 

[Matt Ashton]

Nicolas, I am interested in hearing about your project in the Springs.  I'll shoot you a message.  

[Colin Smith]

I would suggest doing some direct mail marketing to those types of properties to find off market deals. I think you're going to continue having trouble find "great" multi-family deals via the MLS only.