Denver is a great market for rental property investing. I specialize in helping investors find solid rental hold properties in Northglenn, Westminster, Thornton and Arvada. All are Northern Denver suburbs.
Renters like these areas for the following reasons: quick commute to Denver (approx. 20-30 mins), larger homes (1800+sq. feet), nice neighborhoods. Also, there is strong rental demand in these areas, due in no small part to the sub-prime fallout. Many folks are former owners, now impacting the rental market.
Let me give you an example: we've help clients buy homes for $110k, invest $10k-15k in rehab, then have the properties re-appraised at $170k. These properties will rent for between $1250-1400/month. 20% down in these cases will equal a nice positive cash flow property that has a lot of rental appeal.
Absolutely. I've financed two condos over the last 2 months as rental properties and the investor rented out the properties quickly and is cash-flow positive. Purchases prices were $60,000 and $87,000. If you're looking for a good Realtor to help you with the purchases, call David Barr -- 720.394.2096. He has been the Realtor on both and is expert at finding great investment property options in Denver.
If you need assistance with financing, give me a call or e-mail me at email@example.com or 720.280.0441.
By the Brooke Mortgage