Trying to get started in Real Estate in Denver Metro Area

[Nicholas Denning]

I am trying to get in to real estate in the Denver Metro Area. Looking to buy and hold a single family or condo in the $150k-$175k price range. Where are the best places to start looking?

Thank you

[Scott Trench]

@Nicholas Denning I think that there are three things that will help you here:

1) Determine what is on the market in general in the Denver market. You can do this with an agent search for all properties under $200K within 20 miles of downtown Denver. I think that just looking at that in general will open your eyes to what the reality of your purchasing position is.

2) Within the areas where those properties pop up, determine what units/locations will attract tenants that you would like to rent to. This will involve actually knowing the city, or driving around those parts of town to become comfortable.

3) Determine your holding period - if you want some quick equity, you can buy a place with some value add opportunities. If you are a little more patient, then look for opportunities to cash flow now, but realize upside over the long-term. Light rail stops like @Jean Bolger  mentioned are a good bet, but so are some of the big developments coming in and the big infrastructure projects being undertaken by the city.