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Old 11-26-2007, 05:43 PM
 
16 posts, read 70,512 times
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Sorry, another post:

I live near near broadway and 1st - wonderful neighborhood, but pricey and you wont get much. It is close to the rail, and there is a growing restaurant/bar scene.
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Old 11-26-2007, 06:31 PM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 82,794,063 times
Reputation: 17500
Quote:
Originally Posted by kantian82 View Post
Want to invest, go to Cali.

You might have a long wait. Things there are expected to get worse (down 10% to 20% in the next three to five years) before they get better....
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Old 11-26-2007, 07:08 PM
 
Location: CO
355 posts, read 1,284,113 times
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I would buy in a suburb of Denver ...Arvada ,Lakewood Even Westminster or Golden plenty of nice condos that are under 150k but this would be to a place to live in... not just to flip it or rent it
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Old 11-26-2007, 07:58 PM
 
249 posts, read 936,990 times
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I know several people whose homes have appreciate $100,000 in three years. These are in the more up and coming areas like City Park and Highland. That translates into buying in a neighborhood that is half run down and half nice. Then as businesses come in and invest, the prices are bound to go up. I think it's the best investment you're going to get because as people leave the coasts due to astronomical prices, Denver continues to go up because the demand continues to go up. I personally think places near downtown and lodo (that aren't already super expensive - Wash Park) are going to continue to appreciate a great deal. I think buying a foreclosed place in a well-chosed neighborhood is a SURE THING if you give it about 5 years. There is so much investing going on in Denver right now it is going to become increasingly more desirable to people moving from CA and NY and you'll be very glad you bought while you could still afford it. My 2 cents.

I also feel as builders continue to build farther and farther out, the suburb market is going to become very saturated driving prices down - the whole supply and demand idea.
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Old 11-26-2007, 09:29 PM
Status: "Celebrating 30 years as a Broker" (set 18 days ago)
 
Location: Just south of Denver since 1989
10,882 posts, read 29,307,638 times
Reputation: 7085
There are many different ways to look at investment property. Short term Return on Investment (ROI) and long term appreciation, tax deferral...everyone wants to buy low and sell high.

Something easy to rent, and re-rent may have different criteria, then something you may want to retire into in a few years.

I have done a lot of builder flipping in the past, when inventory was non-existent. My partner & I put in blinds and landscaping...made $20,000 on a $180,000-$229,000 purchase...one house we made $65,000.

I have a tri-plex now that is worth close to $500,000, I bought it for $300,000 nearly 9 years ago.

I also a partner in a new home community rental investment club, with 4 others.

Yes, I have paid my fair share of exchange company fees, but have never paid taxes on the gain...it's all deferred.
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Old 11-26-2007, 09:35 PM
 
Location: The airport
9 posts, read 18,765 times
Reputation: 10
Quote:
Originally Posted by kantian82 View Post
I would not invest in denver. I live here, but buying just for investment, not so good. As I understand, DEnver has always been the upcoming city" but never lived up to the name. Want to invest, go to Cali. Just my opinion. Plus, it sucks when people who don't love here just invest and have no concern for the community.
Just to clarify my usage of the term "invest"... The objective is not to "flip" properties, it's ensure that I buy and live in a location which is stable or will appreciate over time (both as a community and financially) and to avoid areas that may have a potential to decline for various reasons such as unrealistic appreciation, over supply, increasing crime, etc.

Quote:
Originally Posted by kristenfromdenver View Post
I know several people whose homes have appreciate $100,000 in three years. These are in the more up and coming areas like City Park and Highland. That translates into buying in a neighborhood that is half run down and half nice. Then as businesses come in and invest, the prices are bound to go up. I think it's the best investment you're going to get because as people leave the coasts due to astronomical prices, Denver continues to go up because the demand continues to go up. I personally think places near downtown and lodo (that aren't already super expensive - Wash Park) are going to continue to appreciate a great deal. I think buying a foreclosed place in a well-chosed neighborhood is a SURE THING if you give it about 5 years. There is so much investing going on in Denver right now it is going to become increasingly more desirable to people moving from CA and NY and you'll be very glad you bought while you could still afford it. My 2 cents.

I also feel as builders continue to build farther and farther out, the suburb market is going to become very saturated driving prices down - the whole supply and demand idea.
While I'd be amazed to see 100k appreciation in 3 years, this pretty much mirrors my thoughts exactly. Now I just need to find the right place in the right neighborhood for the right price.
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Old 11-26-2007, 09:59 PM
 
Location: The airport
9 posts, read 18,765 times
Reputation: 10
Quote:
Originally Posted by 2bindenver View Post
There are many different ways to look at investment property. Short term Return on Investment (ROI) and long term appreciation, tax deferral...everyone wants to buy low and sell high.

Something easy to rent, and re-rent may have different criteria, then something you may want to retire into in a few years.

I have done a lot of builder flipping in the past, when inventory was non-existent. My partner & I put in blinds and landscaping...made $20,000 on a $180,000-$229,000 purchase...one house we made $65,000.

I have a tri-plex now that is worth close to $500,000, I bought it for $300,000 nearly 9 years ago.

I also a partner in a new home community rental investment club, with 4 others.

Yes, I have paid my fair share of exchange company fees, but have never paid taxes on the gain...it's all deferred.
The ability to rent (if needed) would be a bonus, but at the current price/rent ratio in the popular neighborhoods I think it would be tough. Those with 2500-3000/mo. are typically looking to buy unless they're in transition or have bad credit, no?

There is a small house for rent in the University/DU neighborhood for 1400. That's about 4-500/mo. short of covering the mortgage/taxes/insurance at today's prices. Now if the owner bought it 10 years ago, it's probably generating a nice income.
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Old 11-27-2007, 09:35 AM
Status: "Celebrating 30 years as a Broker" (set 18 days ago)
 
Location: Just south of Denver since 1989
10,882 posts, read 29,307,638 times
Reputation: 7085
Quote:
Originally Posted by Rofson View Post
The ability to rent (if needed) would be a bonus, but at the current price/rent ratio in the popular neighborhoods I think it would be tough. Those with 2500-3000/mo. are typically looking to buy unless they're in transition or have bad credit, no?

There is a small house for rent in the University/DU neighborhood for 1400. That's about 4-500/mo. short of covering the mortgage/taxes/insurance at today's prices. Now if the owner bought it 10 years ago, it's probably generating a nice income.
You will make more rent money if you offer flexable rent terms, like 3 or 6 month leases.

My favorite all time real estate quote is: "The best real estate you will ever purchase is the real estate you purchased yesterday."
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Old 11-27-2007, 10:33 AM
 
Location: Denver, CO
75 posts, read 264,801 times
Reputation: 23
Quote:
Originally Posted by Rofson View Post
Just to clarify my usage of the term "invest"... The objective is not to "flip" properties, it's ensure that I buy and live in a location which is stable or will appreciate over time (both as a community and financially) and to avoid areas that may have a potential to decline for various reasons such as unrealistic appreciation, over supply, increasing crime, etc.



While I'd be amazed to see 100k appreciation in 3 years, this pretty much mirrors my thoughts exactly. Now I just need to find the right place in the right neighborhood for the right price.
Made 100K on a home in Metro DC in 2006. Bought in July 2004 and sold March 2006, just under 2 years. Sold bc we were relocated to the west coast and we really lucked out since we sold just after the peak hit and the market started to cool.

Im also in your same boat as I want to buy something that will appreciate but wife wants new/cookie cutter home.
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Old 11-27-2007, 10:51 AM
 
Location: The airport
9 posts, read 18,765 times
Reputation: 10
Quote:
Originally Posted by LAAFTERHOURS View Post
Made 100K on a home in Metro DC in 2006. Bought in July 2004 and sold March 2006, just under 2 years. Sold bc we were relocated to the west coast and we really lucked out since we sold just after the peak hit and the market started to cool.

Im also in your same boat as I want to buy something that will appreciate but wife wants new/cookie cutter home.
Yes, it could have been done in that market at that time. I lived in Ashburn, VA from Nov 2000 to July 2002 and made 60k when I sold. That was before the housing boom and in the midst of 9/11 and the Northern VA "Tech Wreck". At the the high point of the latest boom, this home was worth double what I paid.
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