All Forum Posts by: Tripp Howell

@Mindy Jensen 

@Matt M. @Russell Brazil

I'm finding that many listing agents won't accept backup offers in the 200k-300k price range because they're getting so many offers, they don't want to select just one as a backup.  They would rather put it back on the market for bidding.  The main reason, in my opinion, that so many contracts are falling out is that there is not enough time for a second showing before making an offer, the second showing happens during inspection.  It's frustrating to me that there are agents out there who advise their clients to keep putting offers out, and once one gets accepted, then they can see it again during inspection to decide if they like it or not.  Unethical in my opinion.  I'm all for having an inspection to make sure you're buying a good property, but not with the intentions of treating the inspection as a second showing.  Agents should make sure their clients know what they're getting themselves into before making an offer.  Rant over :)

@Ben Pohle I generally stay in NW Denver area (Arvada, Westminster, Broomfield,Lafayette, Erie), however I have also done deals in Parker and Thornton.  For investments, I'm a big fan of Lafayette and Erie.  They are close to Denver and Boulder and see the overgrowth of Boulder.  Rents in Lafayette are high, especially if you stay along South Boulder Rd, easy access to Boulder.  Erie is a great place to hold for a few years.  UC Health is building a hospital there and the town hall is talking to Whole Foods about a location there.  Close to I25 for Denver and easy access to Boulder via Baseline Rd or Arapahoe Rd.  Erie is in the process of exploding!  

I agree appreciation will have for both value and rates. And depending on where in Lakewood, could see some high rates now. Buying at 90% of market value is okay because values are increasing so fast, more of a time game than anything, just getting into something fast so you can ride the wave! 

Why are you thinking about leaving our great state of CO?? Are you wanting to purchase a SFH in the Denver area before you leave and hold it as a rental?

Congrats @Garry C.! Adding two rentals in a year is great!  What're you looking for in a rental? 

Thanks Kevin!  I have worked with a lot of buyers under the 300k price range, such a competitive range.  Thinking about dabbling with FSBOs.  Any tips on dealing with FSBOs?

I was able to get a client under contract on a highly competitive condo unit in the Denver market at asking price in the 250k price range.  In this market, we're seeing multiple offers (15-20 offers is normal) and the winning offer can be upwards of 10k-20k over asking price, with appraisal guarantees and waiving inspections.  We had a bad weather weekend and the perfect unit for my client fell out from UC the day a storm hit.  We went out there in the bad weather to view the condo when nobody else would and made an offer at asking with no appraisal guarantees or waiving inspection.  Our offer was accepted because we were the only ones to view the property.  According to the listing agent, they had numerous agents asking to see the condo after the storm cleared, our hard work paid off! 

Hi Shawni, welcome to BP and to real estate!  Denver metro is my stomping ground, great idea to invest here! Pricing has been steadily increasing over the years and shows no signs of slowing down.  So many people moving here!  Let me know how I can help, I'll PM you a spread sheet I made comparing the different local markets of Denver/Boulder area to each other.  

Great to hear! Denver metro area is a solid market to invest in.  High demand keeps driving prices.  Are you thinking about moving the family out here or just purchasing an investment property? Will you be coming out here anytime soon?  I'd love to show you around the different areas and share with you pros and cons of the different local markets.   Not only is Denver area great for investments, the way of life is phenomenal! 

@Conner Carrier welcome to BP!  Love seeing fellow young people getting into the Denver market.  My ideas with the current market is that with the low interest rates we're seeing, great time to lock in a low rate and ride the long term investment wave.  All the demand will continue to drive prices up.  

@Grace Porritt I'd love to join an investors meet up! 

@Chris Viglietta If you're interested in seeing what's available here in the Denver market for investments, I'd love to show you around.  Let me know!