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Old 04-28-2010, 12:17 PM
 
Location: Wherever women are
19,012 posts, read 29,715,345 times
Reputation: 11309

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If I buy a 2BR/2BA or a 2BR/1BA condo, with a garage or similar arrangements in the following area:

1BED/1BATH CONDO NEAR CHERRY CREEK (http://denver.craigslist.org/apa/1712038534.html - broken link)

Am I thinking right to see a return investment in 2 or 3 years? I may not even live in Denver for another 6 months or a year. I'm itching to get back to the East Coast and jump back into the financial industry, but I'm looking at it as an investment to make some profit.

I am talking to the Realtor and she is giving a down payment which is way too easy for me and I can even live there until I head out of Denver.

The area has good potential too (or does it, really?). It's cherry creek. Can I jump into this? This is my first time buying in the US of A.

But if the verdict tells me otherwise, I'll pull out of this Please advise.
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Old 04-28-2010, 12:46 PM
 
4,267 posts, read 6,182,157 times
Reputation: 3579
I would not recommend it. Even though it's close to Cherry Creek, it's still Glendale which doesn't have the best reputation. I don't think it's a wise investment especially considering you may not be around in a year or so.

Disclaimer: I'm not a realtor.
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Old 04-28-2010, 12:51 PM
 
Location: Denver, CO
410 posts, read 1,293,186 times
Reputation: 296
I would say it would be like a Las Vegas Gamble--- you're basically going to roll the dice, no one knows where we will be in a couple years, so it's a gamble. With your situation and wanted to move out of state at some point, I would say no don't buy anything right now.. but that's just me, I'm a bit on the conservative side (considering I have a house in AZ that I can't sell right now!!)
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Old 04-28-2010, 01:06 PM
 
Location: Colorado
6,797 posts, read 9,347,476 times
Reputation: 8816
I'm not a realtor, but I probably wouldn't buy unless you plan to be there for at least 5 years, and even then, I'm still not convinced that the economy and housing market is coming back, despite what is being said in the media. Just my opinion. It might be a bit of a burden when you move, unless of course you decide to hang on to the property and rent it through a management company or something.

The area does have the "glendale reputation" but quite honestly, it's not a bad area.
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Old 04-28-2010, 07:17 PM
 
Location: Just south of Denver since 1989
11,826 posts, read 34,430,278 times
Reputation: 8971
Is the Realtor yours or the seller's?

I won't answer if it's yours.
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Old 04-30-2010, 09:25 AM
 
Location: Wherever women are
19,012 posts, read 29,715,345 times
Reputation: 11309
Quote:
Originally Posted by 2bindenver View Post
Is the Realtor yours or the seller's?

I won't answer if it's yours.
I am talking to two. One is mine and the other is the girl's who owns it.

Mine is not recommending it. So I thought I could check with you guys here.

Besides, C/D rocks, take a look at the crime graph for Glendale LMAO

http://www.city-data.com/city/Glendale-Colorado.html
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