Webinar #24: May 2018 Denver Roundup

Charles and I just wrapped up the May roundup webinar (our monthly “let’s grab a virtual cup of coffee and talk Denver real estate investing.”) You can watch the YouTube recording below or listen to it on our podcast channel (#36: May Roundup)

Denver Monthy Market Snapshot

Commentary: Market hasn’t changed much. Still a sellers’ market

April Stats

  • Sold volume -1% vs last year
  • Sold price +10% vs last year
  • Inventory +5% vs last year
  • UC +2% (nice to see!)

Investing Indicator: Denver Named a Future-Proof City

We come across lots of interesting and data throughout the month. The “Investing Indicator” is where we pick one and discuss it.

Lonnie Glessner with NOVA home loans passed along this great information. Here’s Lonnie’s write-up:

Jones Lang LaSalle or JLL, a financial and professional services firm, just created the City Momentum Index which covers 131 major global cities and ranks their prospects for long-term success. Denver was one of 8 U.S. cities that made their Top 30 List of Future-Proof Cities as Denver came in #20. JLL says future-proofed cities have higher education infrastructures, innovation capability, better environmental quality, and more technology firm and more international patent applications.

This declaration makes Denver a big-time player for companies looking to relocate or open new large offices here. This means people will continue to relocate here for new jobs that our city is creating. More jobs=more people=more housing demand.

The cities which top the CMI 2018 Future-Proo ng rankings are at the forefront of the innovation economy. By investing in and leveraging their strengths in technology, physical and digital connectivity, quality of life and sustainability, they are positioned to maintain their performance into the future in this new competitive landscape.

Get the full report at http://www.jll.com/cities-research/City-Momentum

Deal #1: Colorado Springs Condo

These investors have purchased properties in Denver and Grand Junction. They wanted to buy another investment property but didn’t like the numbers in Denver. They were actively comparing properties between Colorado Springs and Kansas City.

Details on the CS property:

  • 3/2 Townhouse in a gated community w/ 2 car garage.
  • Bank owned property (yes banked owned.)
  • Listed at 148k, purchased at 152k.
  • Expected rents between $1,400 to $1,450.
  • CS property is a 7.9 cap. Similar KC property is 10 cap.

Download the MLS data sheet here.

Download the spreadsheet analysis here.

Deal #2: Fourplex Listing in Lakewood

At the time of the webinar and writing this blog, this is a property that Charles is about to list. So no address! If you’re interested, let us know. This property will hit the MLS in early June.

Property details:

  • It’s a solid brick up/down fourplex with two garden level units.
  • C+ neighboorhood.
  • New roof / new furnaces
  • Value add play: Rents are under market.
  • With updated rents, pro forma cap rate is 6.8+

Download the spreadsheet analysis here.

YouTube Recording

Questions? Help?

Creating your real estate investing plan and putting together your team can be a daunting task. That’s why we offer a free investment consultation to anyone – with no obligation or “hard close” at the end.

Our approach is simple – just have a conversation where we can ask you questions to get a solid understanding of what you want to accomplish with investing in real estate. Then, we’ll start helping you put together your investing plan.

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Authors
Chris Lopez
Chris Lopez is a Denver area real estate entrepreneur and investor, as well as the host of Bigger Pockets’ House Hackerz and the Denver Real Estate Investing Podcast.
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