Houses aren’t free in Denver.  You can’t even find very many for $1.  But there are certainly crazy good deals to be found if you are looking to buy a fix-up and hold for at least 2-3 years. This article in CNN Money does a good job of explaining the best strategy for today’s investors:

Rock-bottom home prices have finally begun to lure vulture real estate investors into the fray.

Sharon Restrepo, a broker in South Florida, where home prices have dropped nearly 27% over the past 12 months, recently bought a three-family home in Cape Coral from a very motivated seller for a mere $65,000. It listed for $195,000.

She can rent the three apartments out for about $1,500 and turn a profit, while she holds on to the property until the market recovers.

“The savvy investors here,” she said, “are buying up everything they can.”

Read the rest here.

It’s a really unique time for Rehab and Rent-ers in the Denver Metro Real Estate game:  vacancies are at an all-time low, and home prices continue to drop.  I really think that now is a great time to start or build your Real Estate portfolio - whether you have a long or short-term strategy for the properties. 

In Denver, flipped properties continue to sell, but only if they are priced reasonably - those investors who are buying bank inventory at rock-bottom prices and renovating SMART - meaning that they are not over-improving for today’s market, no matter what price range they are in.

The same goes for Rehab and Rent-ers — if you can snap up a cute little property that looks like crapola, and put only enough money into it to make it a nice little rental, you are playing the game SMART - in a couple of years, when the market stabilizes and buyers outnumber renters, you can always make a few more improvements to get top dollar.

Ready to start looking for Denver Real Estate?  Connect with your inner vulture and get in the game!