Colorado Market. Trying to find a deal

[Kyle Starkey]

Yesterday found a real dump just on the market 12 hours. 300k, 75k undervalue priced for all the work needed. Honestly wanted to offer 280k with me being able to finish the clean out of the hoarding. 🤮

By the time my realitor could get through to their realitor there were 9 offers and 3 were cash.

I was told it wasnt worth putting in an offer. I have a va pre approval and they wanted to close by Aug 30, 8 days away. I get the headaches that come with va loans and I know that the cash offers are going to come in high to get accepted then negotiate inspection issues. It doesnt help I'm playing in the back yard of Biggerpockets...

It seems like I'm trying to punch above my weight class to find an investment property.

Two questions:

Should I have put in an offer? (How can I win if I dont play)

So how do you find a rental property deal?

Denver is a crazy market I know. I'm stuck in the area for work and with the va loan it cant be an investment in another area.

I know va loans I must live in for a bit. It's not my forever home.

Yes, I know I must live in the property for 2 years before it can be a rental, that's the plan.

[Mike Giallanza]

Kyle, there are plenty of fish in the Denver market. It's very difficult to compete with a cash offer for any type of buyer with a loan, but still submit your offers on homes you think are a good fit for you. One recommendation: if this last home was fresh on the market, they tend to get scooped up quickly; make sure your agent is showing you homes that are stale on the market. And here in Denver, that's 3 weeks and older.