All Forum Posts by: Greg Pond

@Eliza Alexa I would consider a 1031 Exchange or Reverse 1031 to purchase a better quality home or multi-family property. Hard to do in this market. Good luck

@Rob Pattison following

@Alysha Pederson congratulations on your new career. I own a property management and brokerage company. Happy to chat with you.

@Bradley Damm I own a boutique real estate brokerage and property management company. Happy to share my take on the differences between a national brand versus a smaller brokerage. Feel free to DM me.

@Lydia Bohac happy to share my take as an investor and property manager. Feel free to DM me.

@Daniel Lao welcome to the community. BP has been a great asset for my real estate investing and property management business. Happy share my thoughts on the Denver market. Feel feee to DM me.

Curious to hear what the BP community thinks about some of the top upgrades for buy-and-hold rental property. We own a property management and real estate brokerage firm in Denver, Colorado that serves real estate investors. We are writing a new article to share with our clients about some of the top upgrades for their rental property portfolio. I am working on a plan for each of our clients over the next 10-years, so they can budget for some of the upgrades. Most of the properties we manage are in neighborhoods that achieve rents from $2000 to $5000+.

I also have a single-family investment property that is approaching 20-years old and will need some love soon. We have done some work to it by investing in a new roof, exterior paint, flooring throughout, and new appliances. Curious to hear what everyone thinks about future updates over the next 5-years. The rent is $2650 and in a strong Denver neighborhood that continues to see rent appreciation. The homes have above average finishes in most of the rentals in the area (i.e. granite countertops versus laminate, hardwood versus carpet). My thought is start with some inexpensive items, such as: master bath and kitchen light fixtures, ceiling fans, and landscaping. Looking forward to hearing your ideas.

I agree with the comment above. My feeling is that you take the cash flow in the first couple of years and put it into cash reserves for any maintenance issues or if mechanicals breakdown, then I can use the cash reserves to pay for things like a new A/C or appliances. After you have a good cushion in cash reserves, then pay it like a 15-year. Good luck!

The above answers are all great. A multi-pronged approach in my opinion is the best way to get good quality tenants. We do what folks mentioned above with social media, Zillow, local MLS (syndicates out to Apartments.com, Hotpads.com, and other online real estate websites), Craigslist, professional signage, flyer box on the sign, YouTube video, and blog post - to name a few. Flyers have cut down on phone calls over the years. We think it is because people tend to go to the website to see photos and video tour to learn more about the home. We also boost our posts on Facebook and Instagram. As you may already know, tenant screening is critical when you are pushing marketing out to several different websites and social media platforms.

Thanks for sharing. I haven't heard of Indian Creek, but probably driven through the neighborhood a thousand times. I'm a little surprised Stapleton didn't make the list. I'm a little biased because I live there, but I figured it would land somewhere in the 20's. Always a great read when 5280 comes out with their best neighborhoods.