First Property.....Denver, CO

[Dustin Anthony]

Hi BiggerPockets Fam!

New REI here looking to House Hack my first multifamily property around the Denver area.

Our lease is up in 10 months, and we plan to move to CO. I plan to use this time to continue my education, build local relationships, and ensure I find the best deal possible!

I would love some direction from local investors as to where I should focus my search. We are looking for a distressed, multifamily, in the 300k range -with a focus on cash flow. 

We are looking for localities around Denver. I have heard Lakewood is a good place to look - even Pueblo even with its distance from DT. 

Would love some recommendations - and to connect with locals in the game. 

Stay safe!

DA

[Matthew Porcaro]

@Dustin Anthony

You normally can't do you own repairs with a 203k loan. In streamlined versions, some banks allow it but you need to prove you're experienced and worked professionally. That said, if the property you're looking at needs repairs to pass inspection, you won't be able to get the bank on board with an FHA.

I know it always seems like a good idea to do the work yourself, but unless you do it for a living, it usually isn’t worth the “savings” people think they’re getting by not just hiring out. Just my two cents.