Denver, CO · Member since 2018 · 8 posts · 9 votes
Hi everyone! I'm new to real estate investing, and my head is spinning from reading so much the last few months! I'm pretty sure I'm looking for a turn key property outside of Denver as it seems to be a bit crazy here, possibly Cleveland or Phoenix (as I've lived in both areas). Any advice? Is it worth going to any of my local real estate meetups if I don't plan on investing here?
Commercial Real Estate Agent · Denver, CO · Member since 2018 · 109 posts · 81 votes
7y
The Denver area is, as you stated, a bit crazy, but it is not impossible. I would encourage you to attend the free real estate investment seminars at Your Castle Real Estate in Denver.
I have been in the real estate world since 2006. Over the last three years I have bought, developed and sold almost $70 million in commercial real estate. If commercial is of interest, send me a message.
Commercial Real Estate Agent · Denver, CO · Member since 2018 · 109 posts · 81 votes
7y
The Denver area is, as you stated, a bit crazy, but it is not impossible. I would encourage you to attend the free real estate investment seminars at Your Castle Real Estate in Denver.
I have been in the real estate world since 2006. Over the last three years I have bought, developed and sold almost $70 million in commercial real estate. If commercial is of interest, send me a message.
Rental Property Investor · New York City, NY · Member since 2017 · 493 posts · 386 votes
7y
@Alaina Donofrio
Yes it is worth going to your local meetups even if you don’t plan to invest in your local market.
I imagine your local market is like mines very expensive, it will be very likely you will find others in your local meetups that invest OOS and they can share their experience w you
Hi Alaina, welcome to BP. Meet ups are a good start as well as building your network locally for when you are able to invest here.
I am not sure about Phoenix, I thought their prices were also a little high.
Cleveland and other parts of Ohio seem to have some good Roi.
I have also seen some good opportunities available in Tennessee and some other southern states.
Thanks for the response! What's your take on buying in a market where population is declining? I'm looking to buy and hold, I want a fairly passive revenue stream so not exceptionally worried about appreciation other than I don't want to lose money if/when I sell...
Hi everyone! I'm new to real estate investing, and my head is spinning from reading so much the last few months! I'm pretty sure I'm looking for a turn key property outside of Denver as it seems to be a bit crazy here, possibly Cleveland or Phoenix (as I've lived in both areas). Any advice? Is it worth going to any of my local real estate meetups if I don't plan on investing here?
Cleveland is a great place to invest in! Tons of properties at decent prices with a high rent!
Realtor · Denver, CO · Member since 2016 · 499 posts · 129 votes
7y
@Alaina Donofrio I would worry a little about declining population. I would try to get a house in the best or better school districts and an area that has lots of businesses for renters to work at. Over the long term, real estate is a safer investment and should appreciate even if it is small appreciation to protect your investment.
Hi everyone! I'm new to real estate investing, and my head is spinning from reading so much the last few months! I'm pretty sure I'm looking for a turn key property outside of Denver as it seems to be a bit crazy here, possibly Cleveland or Phoenix (as I've lived in both areas). Any advice? Is it worth going to any of my local real estate meetups if I don't plan on investing here?
If you are looking at Cleveland give the Ultimate Guide to Grading Cleveland Neighborhoods a read. Lots of areas in Cleveland with prices all over the map. It's important to know why that is. Zillow doesn't always show you an accurate representation of what you're buying.
Denver, CO · Member since 2018 · 8 posts · 9 votes
7y
Thanks for the guide! I grew up there and have family in N Olmsted and Strongsville, so I know a little bit about the market. Granted I haven't been back in a while, so I'll definitely read up on trends! Thank you :)
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
@Alaina Donofrio You have a lot of compnay. We see quite a few people doing 1031 exchanges out of the Denver market and moving their investment to the Midwest. Denver prices have gotten too crazy to cash flow. The two markets that you mention are different as night and day. Phoenix has a booming job market and growing population but doesn't cash flow well anymore. Cleveland has a pretty week economy and shrinking population but can cash flow in the right areas. If you're interested in the Midwest, I strongly recommend looking at Indianapolis and Kansas City. Both have positive economic/demographic trends, are very affordable and cash flow well.