Denver Investment Real Estate

Denver Investment Real Estate

By Chris Lopez - Denver Investment BrokerBusinessInvesting
Download on the App Store

Denver Investment Real Estate episodes

  • #637: The 3 Day Rule That Fixes a Stuck Denver Rental in 2026

    A Capitol Hill studio apartment just rented for under $700 in 2026. That’s roughly 2015 pricing in a neighborhood where the same unit went for $1,100 three years ago. Welcome to the Denver rental market in 2026.

    Chris Lopez sits down with Brandon Scholten and Shawn Riley from Keyrenter Denver to unpack what the data actually says. Occupancy rebounded from a 16-year low of 92.9% at the end of 2025 to 94.4% by Q2 2026. Absorption finally beat new deliveries. But effective rents are closer to 15% off once you count the $169 average monthly concession, and 1960s and 70s condos are taking the biggest hit.

    Then they walk through three real Keyrenter properties. One sat 23 days before the owner dropped $200. One took 33 days of steady adjustments. One leased in 13 days because the owner priced it right from day one.

    If your rental has been sitting without tours, the market’s already giving you feedback. Shawn Riley at Keyrenter Denver will help you read it. He’ll pull comps, audit your current listing, and lay out where to price and when to adjust, with no strings attached.

    In This Episode We Cover
    • What 34,000 vacant apartments did to concessions and effective rents
    • The 3 day rule Keyrenter uses to decide when to drop asking rent
    • Why holding out for your target rent costs more than taking the lower number
    • Which property vintages and bedroom counts are protected from the apartment flood
    • How to spot a tenant who will stay 4 years instead of 12 months
    • Why small multifamily might be the real buying opportunity this winter
    • Keyrenter Denver is offering a free personalized rental strategy. Shawn will pull comps, audit your listing, and build you a vacancy management plan.

      Watch the YouTube Video

      00:00 Chris sets up today’s Denver rental market

      01:15 Occupancy swings from 94.6 to 92.9 to 94.4

      03:59 34,000 vacant apartments and the $169 concession wave

      11:12 Why 1960s and 70s condos are getting hit hardest

      15:57 Uptown studios back to effective $600s

      17:20 The real math on holding out for your target rent

      20:07 Case study 1 Raleigh Street and the 23 day correction

      24:20 Case study 2 Quincy 1/1 that took 33 days

      27:50 Case study 3 Fraser Court Aurora leased in 13 days

      32:35 Why 5.1 weeks is the new vacancy reality

      38:00 Which upgrades actually move rent

      42:27 Small multifamily opening up as a buying opportunity

      49:58 How Keyrenter is renting 80% of properties in 30 days

      Links in Episode
      • Yardi Matrix — https://www.yardimatrix.com
      • CBRE Research — https://www.cbre.com/insights
      • DMAR (Denver Metro Association of Realtors) Market Trends — https://www.dmarealtors.com/market-trends
      • Zillow Rentals — https://www.zillow.com/rental-manager
      • Keyrenter Denver personalized rental strategy
      • Denver Landlord’s Digest signup
      • Keyrenter Denver: https://keyrenterdenver.com
      • Who is Keyrenter?

        Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.

        56 min
      • #636: From $30K Aurora Condo Flip to $3M Denver Luxury Spec Builds

        Fix and flip margins in Denver got cut in half, and some investors are rethinking the whole model. One recent condo project targeted $300K in profit. Instead, it delivered closer to $130K. Another one got sold off to a different developer, who then took a loss on the resale. So this week’s guest walked away from flips entirely. Today, he’s a Denver luxury home builder putting up ground-up spec homes in three of the city’s most desirable neighborhoods. All-in costs land around $2.5M. Sale prices run between $2.8M and $3.2M. The reason this works right now has less to do with building better houses. Instead, it comes down to who’s actually transacting at today’s interest rates.

        In this episode, Chris Lopez sits down with the team behind Modern Traditions Denver, a Denver luxury home builder running a 4-partner development business. Together, they target 3 to 5 luxury spec homes per year. The arc started with a $30K condo flip in Aurora 8 years ago. Furthermore, the team built the whole thing part time, while the guest held a full-time career and raised a family. The structural choices behind that story are worth paying attention to.

        The conversation covers why this Denver luxury home builder zeroed in on Bonnie Brae, Observatory Park, and South Park Hill. Next, it breaks down how they underwrite deals using an 80% LTC construction loan from a local credit union at 8.5%. Then it explains why building anything above $4M quickly becomes harder water to swim through. Finally, the team gets honest about the lessons they had to pay tuition for. For example, a busy-street mistake cost them their target margin on a $2.8M sale. In another case, a neighbor parked their car in the alley and blocked a cement truck mid-pour.

        If you’ve been watching the Denver fix and flip space tighten up and wondering what’s next, this one gives you a grounded look at how a Denver luxury home builder actually makes the math work right now.

        Watch the YouTube Video
        Timestamps

        00:00 Intro and welcome to the team behind Modern Traditions Denver

        01:38 California to Denver, starting with fix and flips in Aurora

        03:18 Meeting GC Todd and the pivot into new builds

        05:22 Why 2022 pushed them out of condos

        06:44 Clay Street condo math, $300K target vs $130K reality

        08:52 Why $2M to $4M buyers still transact at today’s rates

        09:44 The 4-partner team and 3 target neighborhoods

        10:58 Deal math, 80% LTC credit union loan at 8.5%

        17:12 Full build breakdown, $500K partner equity per project

        18:56 3 to 5 builds per year, 18 to 24 month window

        20:29 The busy-street lesson and neighbor horror stories

        24:00 How 4 partners communicate without standing meetings

        26:33 Why putting the GC on equity changed everything

        29:35 Five-year vision, sticking with spec over custom

        Links in Episode

        Connect with Modern Traditions Denver:

        Website: moderntraditionsdenver.com
        Email: [email protected]
        Phone: 720-436-8402

        32 min
      • #635:Pivoting Into Real Estate, Chris Lopez on Careers, Deals, and When to Sell

        Pivoting into real estate is harder in 2026 than it was a decade ago, but the opportunity is still there for anyone willing to be honest about their skills and their market.

        In this episode, host Chris Lopez sits down with Tripp Gordon, who recently walked away from nearly a decade in software and venture-backed tech. Tripp owns two long-term rentals and is now trying to build a real estate career that pays the bills today while funding a longer-term portfolio. He came in with sharp questions, and Chris answered them from the seat of someone who has already lived through the same pivot.

        Chris walks through the four things that need to line up before starting any new venture: market conditions, your actual skill set, your genuine desire, and your available capital. Skip any one of them and the odds get worse. He explains why liquidity separated the investors who kept going from the ones who got washed out, why Denver is in a slower phase while other metros run, and where that gap creates opportunity for patient buyers. Chris also shares a friend’s west-side six-unit flip that returned roughly 3x in nine months, makes the case that multifamily is bottoming, and pushes back on the “never sell, never pay taxes” mindset that leaves so much wealth creation on the table.

        In this episode we cover:
        • Why pivoting into real estate needs market, skill, desire, and capital working together
        • How to tell burnout from the normal grind of building something
        • What actually happened to multifamily syndications and why the setup looks different now
        • A friend’s west-side Denver six-unit flip that returned roughly 3x in nine months
        • Whether the real estate agent path is still worth pursuing in 2026
        • Day jobs inside real estate that give you a knowledge edge, from fund accounting to asset management
        • Why “never sell, never pay taxes” deserves a harder look
        • Chris’s mother-in-law suite conversion and house hacking at every life stage
        • Watch the Youtube Video
          https://youtu.be/hVSkN62ObKk
          Timestamps

          01:30 – Meet Tripp Gordon, pivoting from tech into real estate

          05:09 – Chris’s four-part framework for any pivot

          09:25 – How to tell “I hate this” from “this is just the hard part”

          13:10 – Who survived the end of the easy era

          18:44 – Multifamily distress and where opportunity is now

          26:30 – Is the real estate agent path still worth it?

          32:01– Day jobs that give you a real estate knowledge edge

          41:56– Why “never sell” is worth rethinking

          Links in Podcast

          Contact Tripp Gordon: [email protected]
          Property Llama Capital: https://capital.propertyllama.com/

          51 min
        • #634: 19% of Denver Listings Are Selling at a Loss — Here’s Why

          The August 2026 Denver real estate market is telling two very different stories at once. Nearly 12% of every home listed for sale in Colorado is now priced below what the owner originally paid. In Denver County, that number climbs to 19%. As a result, buyers, sellers, and investors are rethinking how they approach the rest of the year.

          Chris Lopez sits down with Troy Howell of Nova Home Loans and Brandon Scholten of Keyrenter Denver to break down the August DMAR numbers. Closings across all residential dropped 17% year over year. Meanwhile, attached sales fell 23.5% while detached held closer to flat. Prices tell a K-shaped story. On one side, detached average is up 1.7%. On the other, attached slid 4.3%. In addition, inventory is moving in opposite directions depending on property type.

          Next, Brandon walks through the softening rental picture. Robinwood Section 8 rents fell from roughly $2,800 down to $1,900 after housing authorities tightened reasonableness adjustments. He also flags a real uptick in small multifamily buyer inquiries. For example, an Uptown studio is renting for $685 with a free month, effectively 2016 pricing. On the lending side, Troy shares that he has closed more second mortgages this year than in the prior five combined. Most are 20-year fixed products in the 7s. As a result, clients can keep their COVID-era first at 3% and still tap equity.

          Finally, the conversation closes on a duplex Jeff White just helped a first-time house hacker close. The purchase price came in at $660,000 with an FHA loan, down payment assistance, and an $11,500 seller credit. All-in cash came in under $10,000. On top of that, the property appraised $5,000 over.

          In This Episode We Cover:
          • Why detached and attached are behaving like two different markets
          • The Section 8 rent reset hitting Class C condo investors hardest
          • How second mortgages are letting COVID-rate owners tap equity without a refi
          • Why buyer sentiment is soft even as opportunities open up
          • The $10K all-in duplex deal that closed in August
          • Why almost nobody is submitting lowball offers despite 40+ day market times
          • Whether you own attached inventory, are hunting for your next deal, or want a clear read on where the Denver real estate market is headed into fall, this episode gives you the data and the on-the-ground perspective to move forward.

            Watch the Youtube Video
            https://youtu.be/NsyHr5zqT04
            Timestamps

            00:00 Intro and panelist welcome
            01:27 August DMAR stats, closings down 17% year over year 
            03:57 Detached vs attached, the K-shaped split
            05:25 Buyer sentiment and who’s still pulling the trigger
            08:34  Small multifamily activity picking up 
            14:20 Condo Inventory Builds
            17:32 Robinwood Section 8 rents drop from $2,800 to $1,900
            25:04 Uptown studios renting at 2016 prices
            28:13 11.8% of Colorado listings underwater, 19% in Denver County
            30:04 Second mortgage surge, Troy’s biggest year for HELOC seconds
            36:56 Why nobody’s putting in lowball offers
            38:52 Jeff’s $660K duplex closed for $10K all-in 

            Links in Podcast
            • Troy Howell:[email protected]
              • LinkedIn: Troy Howell
              • Website: https://www.novahomeloans.com/loan-officer/troy-howell/
              • Brandon Scholten: [email protected]
                • Website: https://keyrenterdenver.com/
                • Uptown studio under $700: Apartment CEO renting Denver units at 2016 prices

                  Jason Lewris on X

                  Who is Keyrenter?

                  Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.

                  Who is Nova Home Loans?

                  For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today!

                  NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO

                  44 min
                • #633: Realberry’s CFO on the Next Opportunity in Commercial Real Estate

                  Derek Evans managed a $6 billion REIT lending portfolio at Wells Fargo and structured a $3.5 billion bridge loan before joining Realberry as CFO. Now he’s helping guide the Realberry investment strategy through a move from $300 million to over $1 billion in annual deals.

                  Chris Lopez sits down with Derek in studio to unpack how one of Colorado’s most established real estate firms actually decides what to build, what to buy, and what to walk away from. Derek spent 22 years at Wells Fargo before Chad McWhinney recruited him during COVID. His job now is to institutionalize the firm behind Union Station, Dairy Block, and Centerra without losing what made it work in the first place.

                  The Realberry investment strategy is built on conservative leverage and a layered capital stack. Each investor tier fits a different kind of deal, and the firm is opening up a new digital channel to reach accredited investors for the first time. Derek walks through how those pieces fit together.

                  From there, the conversation turns to the investment committee that decides what moves forward. Eight members, one meeting a week, and a voting rule that has ended more Denver metro deals than most investors would guess. Water rights, business climate, and market fundamentals across Colorado, Austin, and Phoenix all shape what gets a green light.

                  Derek closes with where he sees capital moving next: luxury hospitality driven by K-shaped wealth trends, mixed-use in Loveland and Baseline, the firm’s first 55+ for-rent community, and a downtown Denver thesis that still hinges on getting employees back in office seats.

                  In This Episode We Cover:
                  • Why Realberry targets 60 to 65% leverage and puts in 5 to 10% GP capital
                  • How ultra-high net worth, family office, and institutional capital each fit different deals
                  • The two no vote rule that kills any deal at investment committee
                  • Why the firm is actively bidding on multifamily in Colorado, Austin, and Phoenix
                  • What Derek looks for in luxury hospitality and 55+ for-rent product
                  • Why water rights have killed multiple Denver metro deals in the last five years
                  • The Realberry investment strategy behind downtown Denver, office-to-resi, and hotel conversions
                  • This episode wraps our three-part Realberry series. If you missed the earlier conversations with Chad McWhinney and Taylor Hazlett, go back and start there for the full picture of how the firm thinks about capital, deals, and Colorado.

                    Watch the Youtube Video
                    https://youtu.be/DvQ4uDlSv5Y
                    Timestamps

                    00:00 Welcome and guest introduction

                    01:41 Managing a $6 billion REIT lending portfolio at Wells Fargo

                    04:49 Unsecured vs secured real estate lending (at a larger level*) 

                    06:17 Why Derek left Wells Fargo for Realberry during COVID

                    08:06 Growing Realberry from $300M to $1B in annual deals

                    11:55 The Realberry capital stack and conservative leverage

                    14:45 Ultra-high net worth, family office, and accredited investor tiers

                    15:55 Institutional capital and the control rights tradeoff

                    22:19 Inside the Realberry investment committee

                    37:30 How two no votes kill any deal

                    28:47 Why Realberry is bidding on multifamily right now

                    31:54 Colorado, Austin, Phoenix, and Nashville fundamentals

                    32:25 Legislation, affordability, and Colorado’s business climate

                    37:11 Placing capital in Colorado

                    40:47 Water rights and the deals Realberry has killed

                    44:12 Luxury hospitality and the K-shaped wealth trend

                    45:29 Downtown Denver and office-to-resi conversions

                    Links in Podcast

                    Realberry

                    • Website: https://www.realberry.com
                    • Portfolio: https://www.realberry.com/portfolio
                    • LinkedIn: https://www.linkedin.com/company/realberryinvest
                    • Instagram: https://www.instagram.com/realberryinvest
                    • Investor inquiries: [email protected]
                    • Derek Evans

                      LinkedIn: https://www.linkedin.com/in/derek-evans-051b80a5/

                      This is the third and final episode in our three-part series with Realberry. If you haven’t caught the first two, start here.

                      Episode 1 — Chad McWhinney, Co-Founder and CEO. Chad walks through the origin story, from a berry stand in Loveland to Union Station and Centerra. He covers 35 years of building in Colorado, how the firm thinks about long-hold capital, and the vision behind the rebrand to Realberry.

                      Episode 2 — Taylor Hazlett, Senior Director of Private Capital. Taylor breaks down how Realberry filters 100 deals to close 2 or 3. He covers the firm’s multifamily underwriting in today’s market, the gap between replacement cost and acquisition pricing, and early signs of recovery across the Front Range.

                      Together, the three episodes give you the founder’s vision, the deal team’s discipline, and the CFO’s capital architecture. That’s the full picture of how Realberry works.

                      Who is Realberry?

                      Realberry, formerly McWhinney, is a Denver-based real estate investment, development, and management firm founded in 1991 by brothers Chad and Troy McWhinney. For nearly 35 years, the firm has focused on creating places people love, with a portfolio spanning master-planned communities, multifamily, hospitality, industrial, and mixed-use developments. Its work includes Denver Union Station, Dairy Block, the Crawford Hotel, and Centerra, and has earned ULI Awards of Excellence, Michelin Keys, and U.S. News Best Hotels recognition. Realberry is family-founded, community-centered, and future-focused.

                      52 min
                    • #632: How to Run a Yearly Review on Every Rental You Own

                      Most landlords buy and buy and buy, then never look under the hood. A traditional investor sits down with a financial advisor once a year to rebalance a portfolio against their goals. Real estate investors almost never run the same rental portfolio review on their properties, and that gap is where returns quietly erode.

                      Chris Lopez walks through the keep it, refi it, or sell it framework he has used for nearly a decade across his own portfolio and hundreds of client rentals. Using the Property Llama software, Chris runs a real anonymized example of a paid-off $550K single-family rental and shows exactly how to pressure test whether a property still deserves a spot in your portfolio.

                      The math surprises most investors. A paid-off rental generating $21K in annual cash flow and a $44K gross return looks great on paper, until you calculate the return on equity against the $550K sitting in that piggy bank. That works out to an 8% gross return, below the historical S&P 500 average of roughly 10%. The cash flow return alone lands at 3.8%, roughly what T-bills and bonds are paying with none of the tenant headaches or liability exposure.

                      The refi scenario doubles return on equity to 16%, but current rates push the underlying property into negative cash flow. The 1031 exchange path only marginally improves the numbers. And the option most investors refuse to consider, selling and paying the taxes, 4x’s cash flow from $21K to $75K when the proceeds move into a private lending fund. This rental portfolio review breaks down when each path actually makes sense.

                      In This Episode We Cover:
                      • The anti-lifestyle goal setting exercise that clarifies what to cut from your portfolio
                      • Why return on equity matters more than return on investment for existing rentals
                      • How to benchmark your rentals against the S&P 500 and T-bills
                      • The return on hassle filter every landlord should apply
                      • Why a refinance can double your return on paper and destroy your cash flow
                      • When a 1031 exchange is just a lateral move
                      • The scenario where paying capital gains actually beats swap-till-you-drop
                      • And So Much More!
                      • Whether you own one property or a dozen, this annual rental portfolio review is the check-up your rentals need. Create a free Property Llama account to run these scenarios on your own portfolio, and subscribe to the Denver Real Estate Investing Podcast for more frameworks like this one.

                        Watch the Youtube Video
                        https://youtu.be/7IYMv6WNTj8
                        Timestamps

                        00:00 — Introduction

                        03:07 — Goal setting and the anti-lifestyle list

                        05:55 — Return on investment vs return on equity

                        07:50 — The 8% return breakdown on a $550K rental

                        10:58 — Benchmarking against the S&P 500 and bonds

                        14:49 — Keep it and optimize

                        18:25 — Refinance math and why cash flow can collapse

                        21:36— 1031 exchange scenario

                        24:54— Selling, paying taxes, and 4x cash flow

                        27:54 — Running your own numbers in Property Llama

                        Links in Podcast

                        Property Llama: https://propertylama.com
                        Property Llama investor relations: [email protected]

                        29 min
                      • #631: Why Denver Multifamily Owners Are Done Fighting Colorado

                        Denver multifamily market values are down 20 to 30% from the peak, and cap rates in some submarkets have climbed into the 8s. For the first time in years, the spread between interest rates and cap rates is back, and cash flow no longer depends on a speculative rent growth story.

                        Host Chris Lopez sits down with Connor Knutson, Vice President at Pinnacle Real Estate Advisors, who has closed $720 million in career transaction volume across the Denver multifamily market. Connor works primarily in the 20 to 100 unit private capital space, and he brings ground-level data on what’s actually trading, where values have reset, and which submarkets have held up through the correction.

                        Where the pain is concentrated. North Aurora rents have corrected 35 to 40%. Golden Triangle new construction is giving 12 weeks of free rent, effectively 25% off asking. One brand new Class A asset there recently traded off-market for $30 million after previously selling for $63 million, or roughly $170,000 per door.

                        Where the value is holding. Wheat Ridge, Golden, and pockets of Arvada have stayed resilient. Rents are steady, vacancy is low, and pricing has softened far less than the metro average.

                        Why buyers are showing up now. Out-of-state 1031 money from Southern California and Wisconsin is landing in the Denver multifamily market at what these investors see as a 30% discount. Colorado owners scaling out of single-family into their first 5 to 10 unit building are also active. Meanwhile, longtime Denver owners in their 70s are exiting the state entirely, citing Colorado’s tenant-friendly legislative shift.

                        In This Episode We Cover:
                        • Why the Denver multifamily market values are down 20 to 30% and where the correction has been sharpest
                        • The $63 million to $30 million Golden Triangle trade and what it signals for Class A pricing
                        • How insurance premiums doubled since 2019 and how some owners are now saving 50% by reshopping
                        • Why cap rates in the 8s and interest rates around 6.5% have restored positive leverage
                        • The 20 unit Lakewood deal that just closed at $100,000 per door
                        • What out-of-state buyers see in Colorado that local investors sometimes miss
                        • Why Yardi Matrix is calling for rent growth to return by the end of 2028
                        • The Denver multifamily market has spent two years compressing, and Connor lays out exactly where the numbers now pencil for buyers with capital and patience. If you’re weighing a Denver multifamily entry or watching the cycle for the right moment, this conversation gives you the current pricing, the current terms, and the current sentiment from someone closing deals every month.

                          Watch the Youtube Video
                          https://youtu.be/_a37k7sifBw
                          Timestamps

                          00:00 — Are we at the bottom of Denver multifamily?

                          01:22 — Connor’s background and path into commercial brokerage

                          08:26 — Career tips for young brokers

                          10:30 — Connor’s niche: Denver metro, 20 to 100 unit deals, $720M closed

                          12:40 — Oversupply, concessions, and the rate reset

                          15:06 — NOI compression across the market

                          15:49 — Insurance doubled since 2019, now softening

                          17:28— 2026 tax reassessments

                          19:03 — Aurora hit hardest, Golden Triangle rents off 25%

                          20:45 — $63M building sold for $30M

                          21:38 — Wheat Ridge, Golden, and Arvada holding value

                          22:13 — Who’s buying now

                          25:10 — Why local investors are sitting on cash

                          28:16— Syndicator activity today

                          30:05 — Legislation pushing 70-year-old landlords out

                          33:14— Why coastal capital still sees Colorado as friendly

                          37:00— Where we are in the cycle

                          39:15— Foreclosures, lenders, and receivership

                          43:34— Cap rates in the 8s and positive leverage returns

                          46:00 — Lakewood 20-unit at $100K per door

                          48:11— How to reach Connor

                          Links in Podcast

                          Connor Knutson at Pinnacle Real Estate Advisors: [email protected]

                          Connor’s cell: 303-217-3601

                          Pinnacle Real Estate Advisors

                          Yardi Matrix

                          50 min
                        • #630: How a $3.4B Colorado Firm Filters 100 Deals Down to 2

                          Realberry looks at 100 deals to close 2 or 3. That funnel discipline is at the core of Realberry’s multifamily strategy. It’s also how a $3.4 billion firm has stayed sharp through a housing recession most Colorado investors are still living through. Taylor Hazlett, Senior Director of Private Capital, joins Chris Lopez to walk through the firm’s process. Together, they cover how Realberry filters opportunities, underwrites in today’s market, and finds the rare deal worth chasing.

                          Chris hosts the Denver Real Estate Investing Podcast for Colorado investors who want more than surface-level takes. Before moving to the capital side, Taylor spent 7 years at Realberry. He started as a civil engineer at Clemson and later built a couple thousand lots at Century Communities. Today, his team has built close to 400 BTR units through a joint venture with American Housing Ventures out of Texas. He now also helps lead fundraising for the firm’s private capital efforts.

                          From the capital seat, he sees exactly how the firm’s deal discipline plays out. The conversation covers why Realberry walks away from bidding wars. It also covers how the team underwrites base, downside, and upside scenarios, and why discipline matters more in a soft market than in a strong one. The read on Colorado then starts with a hard truth for developers. Existing multifamily is trading at roughly 20 to 30% below what it would cost to build new. For example, a building you could buy for $300,000 per unit costs $400,000 per unit to build from scratch.

                          As a result, capital is walking away from ground-up projects and chasing acquisitions instead. Water tap fees running $30,000 to $50,000 per unit and impact fees adding another $15,000 per home in some municipalities are only widening the gap. The recent 60-unit Castle Rock townhome acquisition is a case in point. It’s a mark-to-market opportunity that fit the buy box precisely because building new did not pencil.

                          Taylor also points to early signs of recovery. Rent concessions on a Realberry-operated Broomfield townhome community dropped from 8 weeks free to 2 weeks in just 3 months. Meanwhile, insurance carriers are sharpening pencils, and construction costs have stayed flat for 3 to 4 years. Taken together, these signals suggest the market is starting to firm, even if rents have not caught up yet.

                          In This Episode We Cover:
                          • Inside Realberry’s multifamily deal funnel and the Monday investment committee
                          • Why Colorado has fewer than 40 active BTR deals while Texas has hundreds
                          • The $2.40 to $2.45 per square foot rent threshold for suburban multifamily to pencil
                          • Why rent concessions dropped from 8 weeks to 2 weeks on a Broomfield townhome deal in 3 months
                          • How the firm underwrites with base, downside, and upside scenarios to survive market swings
                          • The Castle Rock 60-unit mark-to-market deal and why it fit the buy box
                          • What the 21st Century Road to Housing Act could mean for BTR investors
                          • Stay tuned for upcoming episodes featuring Realberry’s leadership team and behind-the-scenes property walks through some of Denver’s most recognizable developments.

                            Watch the Youtube Video

                            Timestamps

                            00:00 Introduction
                            01:13 Realberry background and $3.5B AUM
                            02:13 Taylor’s path into real estate
                            05:06 Building 400 BTR units with American Housing Ventures
                            06:25 Why Colorado has so few build-to-rent deals
                            08:07 Water tap fees and impact fees
                            10:02 The 100 to 2 deal funnel
                            13:17 Inside the Realberry investment committee
                            20:07 Where deal flow comes from
                            23:12 How Realberry underwrites in today’s market
                            35:22 Concessions burning off in Broomfield
                            37:20 Construction costs, insurance, and tax appeals
                            40:07 The Castle Rock mark-to-market deal
                            44:51 Class A vs Class C dynamics
                            47:43 Colorado water rights
                            50:17 The federal housing bill and BTR

                            Links in Podcast

                            Realberry

                            • Website: https://www.realberry.com
                            • Portfolio: https://www.realberry.com/portfolio
                            • LinkedIn: https://www.linkedin.com/company/realberryinvest
                            • Instagram: https://www.instagram.com/realberryinvest
                            • Investor inquiries: [email protected]
                            • Taylor Hazlett

                              LinkedIn: https://www.linkedin.com/in/taylor-hazlett-6a62a725

                              Who is Realberry?

                              Realberry, formerly McWhinney, is a Denver-based real estate investment, development, and management firm founded in 1991 by brothers Chad and Troy McWhinney. For nearly 35 years, the firm has focused on creating places people love, with a portfolio spanning master-planned communities, multifamily, hospitality, industrial, and mixed-use developments. Its work includes Denver Union Station, Dairy Block, the Crawford Hotel, and Centerra, and has earned ULI Awards of Excellence, Michelin Keys, and U.S. News Best Hotels recognition. Realberry is family-founded, community-centered, and future-focused.

                              53 min
                            • #629: Is Denver's Rental Market in Trouble? 16-Year High Vacancy Reveals All

                              Denver inventory dropped year over year for the second month straight, and the split between detached and attached is reshaping where the real deals are. This July 2026 Denver real estate market update breaks down 13,115 active listings compared to 13,995 last July, with detached homes still holding value while condos and small multifamily take the hit. For patient investors, that divide is creating some of the best entry points we’ve seen in years.

                              Host Chris Lopez sits down with Troy Howell of Nova Home Loans, Jeff White of Envision Advisors, and Brandon Scholten of Keyrenter Denver to walk through the numbers. The panel covers a 32% value decline across 30 distressed Colorado multifamily properties, a Douglas County office building sold at a 53% discount, and a West Denver fourplex that just dropped $75,000 on ask.

                              The group also digs into why detached properties are up nearly 5% year over year on average while attached median prices are down 2.5%. Condo financing is getting harder, HOA bankruptcies are killing deals, and Class C rents have fallen from $1,380 to the $900s in some pockets. On the rental side, metro apartment vacancy hit a 16-year high at the end of 2025, but Q2 absorption of 6,550 units against just 2,314 new deliveries is pointing to a slow recovery.

                              In This Episode We Cover:
                              • Why Denver inventory is falling year over year again in 2026
                              • The detached vs attached divergence and what it means for buyers
                              • How 30 Colorado multifamily properties ended up in distress
                              • Why banks are extending the pretend on bad commercial debt
                              • A West Denver fourplex with Section 8 tenants sitting well below market
                              • How to house hack past the 10 loan cap using primary financing
                              • Why fourplex house hacks still pencil in 2026
                              • Whether you’re hunting your first house hack or looking to reposition capital into distressed multifamily, this Denver real estate market update gives you the ground-level data to make your next move in Colorado.

                                Watch the Youtube Video
                                https://youtu.be/IjdMdbnZBtw
                                Timestamps

                                00:00 Welcome and July Market Update Intro

                                01:10 Denver Inventory Drops Year Over Year Again

                                04:35 Life Events Driving Today’s Transactions

                                06:03 Detached vs Attached Market Split

                                08:12 Condo Financing and HOA Bankruptcy Story

                                10:10 Condo Foreclosures Running 2 to 3x Average

                                13:22 30 Distressed Colorado Multifamily Properties

                                15:10 Banks Extending the Pretend on Bad Debt

                                18:26 Metro Apartment Vacancy Hits 16-Year High

                                20:05 Occupancy Climbs Back to 94.4%

                                24:20 Douglas County Buys Office at 53% Off

                                26:56 West Denver Fourplex Drops $75K

                                28:30 Section 8 Rents Sitting Below Market

                                34:20 House Hacking Past the 10 Loan Cap

                                Links in Podcast

                                • Troy Howell: [email protected]
                                  • LinkedIn: Troy Howell
                                  • Website: https://www.novahomeloans.com/loan-officer/troy-howell/
                                  • Brandon Scholten: [email protected]
                                    • Website: https://keyrenterdenver.com/
                                    • Jeff White: [email protected]
                                    • Keyrenter Denver Mid-Year Rental Market Review 2026

                                      Douglas County School District Buys Meridian One at 53% Discount (BusinessDen)

                                      Denver Apartments Sell at 36% Discount, 180 Flats Deal (BusinessDen)

                                      Apartment Conversions in the Denver Tech Center (CPR)

                                      Who is Keyrenter?

                                      Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.

                                      Who is Nova Home Loans?

                                      For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today!

                                      NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO

                                      50 min
                                    • #628: The Battle Over Colorado's Eviction Legislation in 2026

                                      Two Colorado eviction bills came dangerously close to reshaping how rental property owners operate across the state in 2026. One would have capped evictions at 5 cases per county per month. The other would have required landlords to attach 60-to-80-page leases to every notice served. Both were defeated, but the same ideas are already being redrafted for 2027.

                                      Host Chris Lopez sits down with Vic Sulzer and Jonathan Carlson from TSM Law, and Matt La Crue and Ellie Reynolds from Purple Label Government Solutions, the bipartisan lobbying team representing the Colorado Workforce Housing Coalition at the Capitol. Together they break down how the last session played out, why 10 moderate Democrats termed out changes everything, and what a Phil Weiser governorship likely means for housing providers.

                                      The group walks through HB 1047, which would have permanently suppressed eviction records and let tenants deny prior evictions on rental applications. They also cover HB 1106, which proposed blocking eviction service during any period below 32°F, above 90°F, or with substantial snow or rain accumulation, leaving roughly 4 months a year when landlords could actually file.

                                      The conversation gets into the state’s $1.5 billion budget deficit, the migration patterns that shifted Colorado’s political makeup, why small owners (who make up roughly 50% of the market) are quietly exiting the rental pool, and what rent control could look like under a governor who has already said he’s going after corporate landlords.

                                      In This Episode We Cover:
                                      • Why HB 1047 would have produced the equivalent of two Empire State Buildings of printed leases every year
                                      • The 4-month window when evictions could actually be filed under HB 1106
                                      • How Colorado Poverty Law drafts and markets tenant legislation
                                      • Why Colorado’s political makeup shifted after COVID migration
                                      • What a supermajority in both chambers would mean for housing bills in 2027
                                      • How the Attorney General’s Office adds another layer of risk for housing providers
                                      • Why joining the coalition matters more before a session than after
                                      • If you own rental property in Colorado (or are thinking about it), this is one of the more important conversations you’ll hear this year. Subscribe for weekly Colorado real estate investing content, and check out the resources below to get involved with the coalition.

                                        Watch the Youtube Video
                                        https://youtu.be/Kw3yP5xxZ-0
                                        Timestamps

                                        00:00 Welcome and Guest Introduction

                                        01:36– What the Colorado Workforce Housing Coalition Does

                                        02:49 – 100 Years of Stable Landlord Law Before COVID

                                        04:25  – Why the Coalition Formed and Who It Represents

                                        06:59 – 2026 Session Recap and Political Dynamics

                                        09:18 – $1.5 Billion State Budget Deficit Drives the Agenda

                                        13:03 – How Migration Patterns Shifted Colorado Left

                                        17:18 – Phil Weiser’s Track Record on Landlords and Towing

                                        21:33 – Moderate Democrats Losing Primary Races

                                        22:27– What a 2027 Supermajority Would Mean for Housing

                                        25:24– HB 1047 Breakdown (Lease Attachments and Suppressed Records)

                                        31:21– How HB 1047 Died in Committee by a Narrow Margin

                                        39:26– HB 1106 Eviction Caps and Weather Restrictions Explained

                                        43:30– Small Owners Exiting the Rental Pool

                                        46:00- Rent Control Expected to Return in 2027

                                        51:52 – Jenna Griswold and the Attorney General Race

                                        55:15 – How to Join the Coalition and Get Involved

                                        Links in Podcast

                                        Colorado Workforce Housing Coalition-become a member and help fight future housing legislation

                                        Purple Label Government Solutions-Matt La Crue and Ellie Reynolds

                                        Tschetter Sulzer Muccio (TSM Law)– Vic Sulzer and Jonathan Carlson

                                        HB26-1047 (Protections for Residential Tenants)
                                        HB26-1106 (Eviction Protections for Tenants)

                                        Colorado Poverty Law Project – the tenant advocacy group referenced as drafting housing legislation

                                        Colorado General Assembly – track future bills and legislative sessions

                                        53 min

                                      About Denver Investment Real Estate

                                      From the publisher's feed

                                      Denver Real Estate Investing Podcast