In Denver Fort Collins, investment property is a difficult market just as in other areas of the country. Many families are finding themselves in a situation where they need to rent. Many others are purchasing investment properties, and are finding that single family homes are becoming a great place to look.
An unfortunate by-product of the Great Recession has been high foreclosure rates. Many of those affected are families; families who are, by and large, used to living in larger homes and not small apartments. Those families have to find somewhere to live. At the same time, there are a large amount of homes that now belong to banks and mortgage companies. Many of those homes are put on the market. They are a great buy for an investor. They can be scooped up and improved, if needed, and then rented for amounts that will make the properties pay for themselves. This is a great opportunity for Denver Fort Collins investment property buyers.
When thinking of “investment properties” for rental, many people think of apartments. But think about it, those families, the ones used to living in larger homes (or are too big to be in a small apartment) need somewhere to live. An average family, say, a family of 5, would have a hard time finding an apartment space that would be big enough. Let’s say they were looking for a home to purchase, most families look for a 3 or 4 bedroom home with 2 or 3 bathrooms. You won’t find that in an apartment or condo, especially if they want a yard or garage for their vehicles.
All those foreclosed homes can be purchased at a good price, but need to be maintained to keep their value. Investing in them is just a smart thing to do. So if you’re looking for Denver or Ft. Collins investment property, look to single family homes.
Want to find out what is on the market in the Fort Collins or Denver metro areas? Give me a jingle today!!! 303-452-5853