On this week’s Drinks and Deep Dives show I was joined by agent Stacy Rozansky and clients David and Mandy to discuss an update to ADU rules in Denver and talk about using the Nomad strategy.
- Listen to the podcast “#310 DDD: ADU Updates and Nomading with a Young Family” on the Denver Real Estate Investing Podcast.”
- Watch the YouTube video (at the bottom).
- Read the blog post. Note, the blog is an executive summary. Get the in-depth breakdown from the podcast or video.
Update to ADU Zoning Rules
Last month, the city council approved all Sloan’s Lake neighborhood properties eligible for ADUs. Properties still need to meet basic requirements such as lot size but are otherwise eligible as far as zoning rules are concerned. Chaffee Park was similarly approved last year, and it looks like East Colfax is the next neighborhood that will be eligible for ADUs. It’s too soon to tell what the impact of this change will be. Sloan’s Lake already had a lot of ADU-favorable zoning, so not much should change there.
In early October, we’re recording a six-part series on ADUs that will cover everything investors need to know. We’re bringing in all sorts of people who work with ADUs from lenders to builders. Look for the series this fall.
Choosing the Nomad Strategy over House Hacking
Our deep dive this week is a deal analysis on a single family home purchased by clients David and Mandy. They are using the Nomad investment strategy and recently bought a five-bedroom house in the Ruby Hill neighborhood of Denver. They plan on fixing up the house while living in it for the next year or so. We talked about how their growing family made them adopt this strategy over house hacking and what the numbers will look like after they move onto the next property.
To read more about it, check out the Nomad Strategy with a Young Family in Ruby Hill blog post.
If you have any questions on ADUs or your investing strategy, reach out to us and we’d be happy to help you out. Be sure to tune into the live show every Wednesday at noon to ask questions in real time and learn more about the local market.