This year (2022) has been crazy in the Denver real estate market! The year started off with historically low interest rates and a severe Seller’s market, but is wrapping up with higher rates and a more balanced market offering opportunities for investors, especially ones who plan to occupy one unit in a duplex/triplex/quad building as their primary residence.
Lets break down my Top 5 benefits an owner occupant of a Denver multi family building can take advantage of currently:
- More inventory is on the market now vs any other time over the past few years. Going into 2023 I predict this will stay the same; however, I also anticipate more Buyer activity as we get into the Spring selling season.
- Loan limits on 1-4 unit properties recently increased allowing Buyers to bring less $$ to the table for their down payment.
- Average rents are still staying strong in desirable areas around the Denver metro area. Having strong rents in your building could help you live mortgage free (especially possible in triplexes and quads).
- More properties in need of CapEx fix up/repairs providing sweat equity opportunities for those willing to renovate.
- Currently less competition (although I’m still finding myself in multiple offer situation in A+ location) which I expect to last until springtime. Buyers generally have the ability to negotiate price/inspection/rate buy downs/etc.
Have you been thinking about occupying a Denver investment property yourself? Reach out and lets discuss this strategy in more detail, you’ll be setting yourself up for future wealth and opportunities!