This deal analysis breaks down how a family of four is using the Nomad™ real estate investing method to start building their rental portfolio for retirement planning.

This deal analysis discusses a room by room house hack in Aurora, CO. Our team helped the client successfully buy their first house hack and future rental property. While living there, our client will spend only about $300/mo in housing expenses. Once he moves out, he'll cash flow close to $5,000 a year by renting it room by room.

Over the last week (man how fast the world can change!) I've had clients and fellow investors and agents reach out to ask questions on the market. I share what I know and often learn tidbits from them.

It's been a great way to share knowledge, but it's over one-on-one phone calls. Add in the fact that news and the market are changing by the hour = inefficient ways of sharing knowledge and staying up to date. Frankly, I'm having trouble keeping up with everyone.

The podcast is a great way for me to share information, but it's a one-way channel. I started thinking of better ways to share ideas and information... then it hit me to start a BiggerPockets forum thread. The forum is easy for sharing ideas and collaborating. Plus it's free.

Get the latest info on the Denver Coronavirus updates and Q&A forum.

The podcast episode shares the same information that I posted on the forum thread. Listen or read it!

This episode focuses on the latest information on how the coronavirus is impacting the Denver real estate market. I share the latest info on:

* Denver market trends* Title companies and closing* Lending* The mortarium on evictions* Having your investing plan and sticking to it during the bad times

This episode is the third of three tutorials using the rental property analysis spreadsheet from Joe Massey that we use to analyze investment properties. It's part of the Deal Blitz series and walks you through how to use the spreadsheet to analyze a long term investment property.

This tutorial discusses the long term analysis of analyzing rental properties. You can download the spreadsheet and view the video tutorials here.

This episode is the second of three tutorials using the rental property analysis spreadsheet from Joe Massey that we use to analyze investment properties. It's part of the Deal Blitz series and walks you through how to use the spreadsheet to analyze an investment House Hack property.

This episode is the first of three tutorials using the rental property analysis spreadsheet from Joe Massey that we use to analyze investment properties. It's part of the Deal Blitz series and walks you through how to use the spreadsheet to analyze an investment rental property.

The Denver MLS trends data for February 2020 is out. Comparing year over year (February 2019 to February 2020) is better than comparing the previous month because we have defined seasonality trends. I review the data in this episode.

Before you focus on finding and sourcing Denver real estate investment properties, you need to have a clear and concise definition of what is a good deal for you? If you can't clearly articulate what you want, how can you tell anyone what you're looking for? You can't. Put yourself in the other person's shoes. If they don't know what you want, how likely are they to run deals by you? Most people won't!

Here's my current definition of a good deal:

* Must be in the Denver metro area* 6% cap rate w/ property management expense included* $5,000 or less in repairs needed

Now, are these written in stone? Absolutely not! There are many properties I see that are a high 5 cap rate that I would buy in a heartbeat. Having my criteria clearly laid out makes it easy for people to understand and remember which helps deal flow come my way for me and my clients.

I focus on rental properties. what if you're a flipper? You still need to tell people what you want. Here is an example for flippers:

* Must be in Denver metro area* Only detached homes (no condos or townhomes)* No major structural issues or meth labs* A $130,000 spread between the purchase price and the ARV* Close in 7 days with cash and the typical "as-is" stuff

Compare that to "I want a good deal to flip." People are not mind readers for what type of properties that you want!

Can you clearly and concisely share the criteria you want for Denver investment properties?

Four Ways to Source Deals

There are hundreds of different strategies for finding and taking down real estate deals in Denver. They fall under four main categories as outlined in the Deal Quadrant:

Here's the first question we always get: What's the best quadrant? There isn't one! It depends on a number of factors. There isn't a better or worse quadrant. It's all a list of pros and cons.

Deal Source Stats

In preparation for this post and to satisfy my own curiosity, I pulled stats of deals my team has completed over the last 12 months.

Where do deals come from for me and my clients who buy Denver rental properties? It's obvious that it's the MLS and our networking efforts. For House Hackers, 100% of deals came from the MLS which is no surprise to me. Many House Hacking clients ask about finding "off-market" deals. Those are really hard to find, because many of the off-market deals are geared towards flippers.

When creating the Denver Fix and Flip Course, I asked Derek Marlin to breakdown his source for flips. In the Finding Flip Deals in Denver post he shared his source numbers:

* MLS: 55%* Networking: 20%* Wholesalers: 10%* Lead gen: 15%

Are you surprised that the MLS is the main source? Many investors and flippers are! Our stats are not out of the ordinary. There are lots of deals on the MLS.

The Multiple Listing Service (MLS)

Pros

* Huge inventory. No other quadrant will have nearly as much inventory. ~95% of all residential transactions happen on the MLS.* Contract. Uses the Colorado state standardized contract which is very buyer friendly.* Earnest Money. Buyer friendly because it's protected in the state standardized contract.

It's been a couple of months without in-depth deal analyses, but that's about to change. I'm getting ready to do a "deal blitz" where I discuss a variety of deals we've closed over the last couple of months. Once everything is published, the website and podcast will have a great resource library, and clients will get a copy of the new "Denver Deals Analysis" booklet.

Annemarie Sunde of Legacy Property Management attended the National Association of Residential Property Managers (NARPM) conference. She took great notes on the state of the property management industry and hopped on a podcast to share it. Most of the information is national-level data, but we related it to Denver as much as possible.