Relocating To Denver

[Brian Fiorillo]

Hello Denver BP community,

My fiancé and I recently found out her job will be relocating us from West Michigan (Kalamazoo / Grand Rapids) to Denver. My job has allowed me to transition into a partially remote role which will require frequent travel back to Grand Rapids. As far as my REI career goes, I've completed a handful of flips and have a small rental portfolio. I plan to liquidate one or two properties so we have some funds available to purchase/invest in Denver.

I write this post for a couple reasons:

1.) Knowing the market is exceedingly high right now, is there much of a wholesale market in Denver and surrounding cities? I'm not interested in wholesaling myself, rather connecting with current wholesalers to weed out retail buyers.

2.) I'd like some local input on areas to pursue and those to avoid. My fiancés office would be located in Greenwood Village and I'll be commuting to the airport quite frequently so we would like to focus on areas that are accessible to both. Even though we are currently in search of our primary residence, as an investor, I'm interested in purchasing a single family or multifamily property we can add value to.

We plan to take a trip to Denver over the coming weeks to do our own due diligence but any advice or direction before hand would be greatly appreciated!

Thank you all in advance.

Brian Fiorillo

[Jeff White]

@Brian Fiorillo Welcome to Denver!  You will be very happy to move here, especially with our winters compared to Michigan.  That's great that you have a background in flips and being a landlord because it will serve you well in Denver.

1) There is a wholesaler market in Denver, but obviously, it is very relationship-based, and the investors getting the best deals are the ones with years of credibility and track record of performance. It isn't impossible, but the good wholesalers here spend lots of money (10-20k per month in advertising!) to get those off market deals.

2) It really depends, you have lots of great areas in between those spots. Greenwood Village is very suburbia, do you want more city?  Close to downtown? Do you want to house hack?  Do you want to flip?  What's your price range?  What are your goals?  Have you talked to a lender?  That will determine when and where you can start looking.  There are lots of great spots between Greenwood Village and the airport. 

If you are coming out to visit, I'm happy to grab a coffee or beer and talk about the market!