Pitts’ Pick Denver Investment Property

An abundance mentality springs from internal security, not from external rankings, comparisons, opinions, possessions, or associations. 

- Stephen Covey

If there is a recession going on, I’m not participating.

I have the good fortune of being able to teach what I know about real estate to several newly licensed Colorado Real Estate agents.  We meet one-on-one each week to discuss the nuances of our state approved contracts, business development strategies, the Denver real estate market and many other topics that contribute to a successful real estate practice.  Invariably, our discussions become philosophical, as my interns want to know what it takes to make a lot of money by selling real estate in Denver  and it always comes down to one thing:  state of mind. 

I believe that all things are created twice.  First, they are created in mind, as an idea of reality before they become actual.  I challenge my interns that if they believe that the market is bad, and if they speak that the market is bad, and they act as if the market is bad, then that is reality that they will manifest. Yet if they adopt an abundance mentality, as Stephen Covey proposes, believing that their every activity creates their success, then that can also become their reality. 

Real estate sales volume in Denver for 2008 will exceed figures from last year.  Sure, the number of bank owned properties and short sales are greater than they were last year, but the numbers don’t lie:  people are buying more homes in Denver than they did in 2007 and eventually, the law of supply and demand will have a positive effect on value. I know this, the investors with whom I work know this and 2009 will be the next consecutive record year for those of us who do not subscribe to “popular opinion.”

So let’s talkabout a Denver real estate investment opportunity.  For those not participating in the economic news, this is a great REO listing located near Denver University.  Why is it so good?  Because there will always be students in need of housing and a lot of students could occupy this 5 bedroom / 2 bath 2400 square foot home.  Furthermore, it’s within a couple of blocks from the light rail station, and we already know what that does for value.  Priced at just $219,900, this home comps at $258,000.  So a reasonable offer for this Denver bank owned property might be $205,000. With a minimal amount of fix up work, it would be in excellent condition to rent to DU students for the second semester.

For more information about Denver or Arvada investment properties, please drop us a line.  Each Saturday at 11, I conduct a tour of the week’s top investment properties in the Denver metro/mountain area.  If you would like to join the caravan, feel free to call 303 650 2866.