All Forum Posts by: Tripp Howell

Thanks @Dorothy Ma, that's what I was afraid of... would be great for Air bnb opportunities to have a full kitchen in the basement! 

Does Denver allow you to have 2 separate kitchens in a residential single family home? 

Wow, great story, thanks for sharing!  I love the encouragement, and you have definitely are qualified to give advice!  Could you give us some info on your flips that you've done?   What source did you use to find them, where were they, what financing did you use??? 

Thanks!   

Seems like too much risk for too little return to me.... I agree with Travis Sperr on this....find a good (not great) deal in Denver.  Less risk and more reward. 

@Pratik P., The sellers were there when we went to view the property, so we had them show us around the house, instead of doing it on our own.  We talked about all the personal reasons why the house would be perfect for my clients, and we asked them all about their memories living there.  Just basic conversation.  A great book to read is called How to win friends and influence people.  

I just got some buyer clients under contract on a competitive home in Golden, and we weren't the highest offer!  The seller's received another offer higher than ours, but decided to choose our offer because they liked my clients better.  Another example that proves relationships do sill matter in the real estate world, and that real estate deals are made in more ways than just the money.  

@Marc Allen they're from a company called Axio Metrics, they pulled them from the US Bureau of the Census and the US Bureau of labor statistics. You can find a lot of good info on that govt site.  The bit about the 20% moving to Denver was from the Denver Post.

This is a great discussion!  I'd like to put some input in regarding the concern with the influx of units being built in Denver.  There were 8,900 units permitted in Denver between 8/15 - 8/16.  Colorado, as a state, is seeing about 102,000 people moving to the state per year, which is 8,500 people per month.  Out of those 8,500 people moving here each month, roughly 20% of them are moving to Denver, that's 1,700 people moving to Denver each month.  That puts the monthly inventory of the new units at 5.23 months.  Considering that a "normal" housing markets's inventory is 6 months, I think we'll be fine.  That argument, however, is not bullet proof.

Another, and arguably more important, metric to consider is jobs being added. Denver has 6.05 jobs gained for every 1 unit being built.  The national average is 6 jobs per 1 unit. That indicates Denver permitting is in balance with job growth.   

Welcome! What are your real estate goals?

Hi Joe, great story! Arvada is a great place to live and invest. I'd love to grab coffee and swap stories and talk real estate. I'll PM you.