All Forum Posts by: Charles Renn

Thank you for your response. It's an investment loan, and I was curious as to what I should expect. How do you go about negotiating seller credits?

 Hi Charles,  Do you know the dates for the San Diego Conference yet?  I would like to attend the conference and when will registration begin?

@Charles Renn

I'd second @Bonnie Griffin Kaake about Colorado Springs as well. A solid real estate investment at a slightly lower price. But the truth about the front range cities is that long-term rentals are tough to cash flow here. Prices have gone up so fast, and even though rents are also going through the roof, for the most part, they have not kept up. Denver and the Springs are still great investments for the long-term. (Oh, the dirty phrase -- "investing for appreciation.") 

Also, you might consider a short-term rental strategy if you can get your systems in place. There are a few Denver metro areas that allow for non-owner occupied STRs and Airbnb. In a way, it allows you to have your cake and eat it too -- cash flow and appreciation. Colorado Springs is a little restrictive, but there are rare properties that are eligible for Airbnb investments, and I've got clients under contract on five STR-eligible properties in the last year.

You can also find some properties in Colorado Springs that are less expensive than the closer Denver Metro areas. Greeley is also seeing an uptick in investors. The colleges/universities in both areas are attractive to investors looking for properties that can benefit from additional upgrading to increase rents in both areas. Grand Junction is another attractive area to invest in. The Denver Metro area is softening up a bit, it is taking a little longer to sell a single-family or multi-family right now. No more long lists of investors/buyers offering far over the asking prices like they were. 

I think the same thing about east Colfax in Aurora, just east of Denver. There's Stanley marketplace out that way, and I think more development will push into Aurora at some point ... if not this cycle, then the next one. 

I'd just add a place like Northglenn. Solid brick ranch homes, mostly 4br/2ba, 20-25 minutes north of Denver. Some of the more affordable homes in the metro, and blue collar families will rent that all day. (Plus, it's one of the few cities in the Denver metro that allows for Airbnb/STR rentals as investments.)

For me, I am still finding the occasional solid rental property in various pockets of town like Barnum and in Aurora near the Anschutz medical campus. I also continue to hold in areas that are harder to find deals in like Cole/Clayton, Villa Park, and Lakewood. Nothing incredible, just passable cash flow in areas I think will appreciate over the long-term. 

One couple interesting  recent one:  I found a BIG (5 bd / 3 ba on EACH side) duplex. Very few 5 bd homes for rent that have good yards, and so this has helped me attract consistent tenants and unexpected cash flow.