There is no doubt that it is still a great time to buy an Investment property?But where is the market swaying towards at the moment – ‘fix and flip’ or ‘fix and hold’ ?? Without question, this is a fabulous market to fix and hold. According to InsideRealEstateNews, the rental vacancy rate in Denver is a record low of 1.4%. Coupled with the fact that the mortgage rates are so low making it cheaper to buy than rent, you can easily cash flow a property.
Some of the reasons for this surge in demand to rent property in Denver is:-
·People who are losing their homes to foreclosure and cannot purchase for a few years
·Consumer confidence is low so people are reluctant to buy because of uncertain futures
·Financing is harder to get
·Denver is still an area that people are choosing to relocate to.
There still plenty of deals to be had. The price of houses are still low, and there are many ‘distressed’ properties – foreclosures / short sales. Click here to see some Bank Owned properties in Denver under $100k. Some may need some TLC, but the return on investment will be worth it.
But what about the Fix and Flip market? Yes there are still deals, but be prepared for:-
·Expect to pay in and around the list price and / or highest and best
·If you are applying a certain ‘formula’, be prepared to be more flexible.Your formula won’t apply to all these properties to make the numbers work
A lot of investors are paying cash, or hard money loan? You can buy a Homepath™ property as an investment with only 10% down.
If you are interested in receiving a free email list with these properties, CLICK HERE
Julie Reddington Realtor® ABR®
Buyers and Relocation Specialist
720 226 4168