Homes under $300k are becoming extinct
Remember when you could buy and fix a house in Denver for less than $130k? That was just 10 years ago! Now, only 1% of new listings in the Denver metro area are priced under $300k. Only about 22% are priced under $400k. That means 78% of the homes currently for sale are priced over $400k! That’s the new normal here in Denver, which means your purchase price for flip deals will be much higher. This translates into additional holding costs, so make sure you take this into account when you buy.
If you want to invest in real estate, you don’t need to quit your day job. In fact, you probably shouldn’t. Most landlords have full-time jobs, so it can be done! It’s just a matter of learning how to juggle, a.k.a. prioritizing your time and outsourcing as much as possible. This is a great way to begin investing in real estate. It doesn’t have to retire you from your job, but it can be part of your retirement strategy. Here’s an article to help you figure out how to do it on the side of your regular employment.
QUOTE OF THE DAY
“Perpetual optimism is a force multiplier.”
See you soon,
Read the full newsletter here: 2018.05.03 – Friday Flyer