The Denver real estate market has been incredibly popular among investors for several years. For most of the US, the tight housing inventory and demand only started after the pandemic. For Denver, however, it started beforehand. Denver has an average home supply of less than two months, and most houses only stay on the market for 38 days.
There is a lot of money to be made in the Denver multifamily housing market, and if you are interested in investing in it, here are some tips.
Denver, Colorado is appealing to many people because it has the perfect combination of city life and opportunities to explore the outdoors. It also has a reputation for being a health-conscious city, attracting more people interested in renting than purchasing homes. Real estate investors interested in expanding the portfolio may be interested in adding the Denver property to it.
However, there are some things to keep in mind regarding the Denver real estate market. In Denver, unemployment is high, the housing inventory is extremely limited, and home prices have skyrocketed. This combination of factors is important for a future investor because it means people may be uninterested in breaking existing leases or signing new leases. While the price of homes has gone up, it doesn’t mean that price can be transferred to future renters.
In Denver, multifamily units are the best investment. With an average monthly rent of just over $1500 and an occupancy rate of 94%, Denver shows a lot of promise for anybody concerned about post-COVID rebounding.
To get a good deal on real estate in Denver, you must be aggressive and have the right financing. If you are interested in breaking into the Denver real estate market, then it is important to work with a lender you trust. Aspen commercial lending can help you expand your real estate portfolio. We have many different options for financing, so there is likely something within your budget and timeline that will work to help you secure the property you want.