Moving to Denver looking to invest

[Alex Medina]

I know the market is crazy. I’m looking to buy a home that I can turn into a long term rental in a year or if possible purchase a duplex, triplex, or fourplex.

Any suggestions, areas to consider, or advise would be extremely helpful!

Thank you in advance!

-Alex

[James Carlson]

Quote from @Alex Medina:

I know the market is crazy. ...

 A premature welcome to Denver. It's an awesome city. But not necessarily for cash flow. There's really almost no city along the Front Range in which you can cash flow with a traditional rental unless you're buying a real dump and remodeling. 

So you're left with two options in my book:

-- Buy for appreciation, which is a dirty word around here, but if you're buying for the long term, Denver's a great market.

-- Get creative by either renting by the room or doing a short term rental in one of the rare Denver-area cities that allow Airbnb (Arvada, Wheat Ridge, Adams County and Centennial.)

We've got a lot of clients who are moving to Denver who buy in one of the Airbnb-friendly cities, live in it for a year or two, house hacking along the way, renting all the other rooms at $800 or so, and then when they move out, they have an short-term rental investment.

Good luck!