All Forum Posts by: Mitch H.

Welcome! Many of us love Denver...but not so much for the abundance of deals!

Whats your target sale price? Maybe Ill buy one!

Assuming you are talking about residential, I would start with Redfin and Zillow.  Use as recent of comps as possible, as Denver prices are rising fast.

Haha I would be remiss if I didnt mention a similar ulterior motive in reassuring myself of my own goals! Even outside of that, my word still stands!

I work in commercial multifamily, and this is a "cart before the horse" situation. As many have said, you still build in your 'subject to' contingency, but its easier for all parties to just wait for the P&S agreement. If anything sign a confidentiality agreement in conjunction with receiving property financials.

as @Elizabeth Colegrove mentioned, if you can get to 5% you will generally qualify for a 'conventional' loan and will not have to pay PMI.

You have to weigh the cost/benefit of that 2% capital in your pocket and paying PMI (if you go FHA) versus the other way around.

Also, FHA requires 1 year of owner occupancy, so you will be able to purchase 1 property per year through this financing vehicle.

Many people think there is a "bubble" happening in Denver.  While I am not an economist, I don't believe this to be true. 

YES we have seen very high appreciation the last few years (~10% YoY)

NO that is likely not sustainable.

HOWEVER, the reasons for this appreciation, I think, are long term.  People want to move here, they want to live in the city.  Our economy is strong for a set of diversified reasons, and we are very entrepreneurial.

What does this mean?  If you were really an appreciation gambler you would have gotten in during the recession.  I think if you were to get in now, you probably missed the biggest appreciation gains, but I think going forward we will see smaller, but consistent gains year over year.   I don't see a lot of 'speculative' investing going on, which to me says 'bubble coming'.

Another Denver success story!  Will we be getting a deal synopsis from you @Theresa W. ?!  

Always extra curious about Denver deals!

I would seek out case studies on redevelopment districts.  Lower Downtown or "LoDo" in Denver was riddled with crumbling warehouses occupied by homeless folks in the early 90's.  Then they built Coors Field in 1993 (ish) and it is now one of the hottest nightlife spots in the country.  

This, I'm sure, is a larger scale than you are attempting, but I would think the ideas could be scaled down.  

I assume this is part of the new commuter rail line being built, and not just commercial lines.  Transit Oriented Developments generally attract a much larger prospective tenant base due to increased mobility. This can allow you to charge higher rents.