My partner and I are looking for a new house in Denver. We have our list of neighborhoods and other criteria. One of them is to buy a house where we can also generate income. e.g. a duplex, a house with an existing space we can rent out in the house, or space on the property to build an ADU and rent out. We'd like to work with a realtor who has experience finding properties like this who knows what to look for and can help us make a strategic purchase. Does anyone know a realtor with this background/experience?
Hi Sara! I am also a Denver investor and resident :)
I would highly recommend taking a look at the BiggerPockets agent finder, that will give you a shortlist of some agents you can interview and agents on BiggerPockets are investor friendly who tend to specialize in finding investment opportunities versus average agents who focus on helping families find homes.
My best advice is come up with a couple questions, take the time to meet with each agent over coffee or at least have a phone call. Go with who makes you feel most comfortable and also seems most educated on the market. One of my personal criteria is that I want to work with agents who are also investors themselves so I ask about their investment properties.
I'd love to help you and your partner find a home in Denver that fits your vision. I've been investing in real estate since 2021 and specialize in properties that generate income—like short-term rentals, rent-by-the-room setups, converting single-family homes into duplexes and adding ADUs. Recent legislative bills have really helped with the regulations around building/converting spaces into an ADU in Colorado! I own a couple of rental properties myself (STR and Rent By The Room), so I know firsthand what to look for to make the numbers work while finding a great home to live in.
Let me know if you’d like to chat more about your goals and see how we can make them happen!
@Sara Capra If you you are considering rent by the room (like @Dan Guenther mentioned) and have questions, let me know! I just wrote the book on Co-Living for BP which comes out in the Spring. Always happy to chat about the strategy!
Long story short, it makes a lot of income (2-3x long-term rental income) when done right! Definitely a lot more management than a long-term rental though.