According to information derived from 2017 and 2018 figures, there are several good real estate investments available in the Denver area. If you are looking for a hot market, this is the place to be!
Denver, Colorado is the ideal city for diversifying an investment portfolio, in terms of real estate. As a property investor, you know and understand that location is a major player when it comes to establishing success in real estate.
Out of all of the communities in the State of Colorado, Denver reported a total of 325,000 visits and exceeded an income of $51 million in the year of 2017, alone.
By the beginning of 2019, these figures are expected to increase dramatically.
The figures that have been established have proven that Denver’s were the absolute highest of any other community within Colorado. If you are in it to win it, this location is considered to be the real estate hotspot.
Tourism
One of the reasons why Denver has so many good real estate investments available is the tourism industry. Referred to as the “Mile High City”, it sits at the bottom of the Rocky Mountains. It attracts in excess of 30 million people each year.
There are several outdoor activities and attractions that may be enjoyed in the area. This includes – but, is not limited to – the Rocky Mountain National Park, the Denver Zoo, Mount Evans, and the Denver Botanic Gardens.
The good real investments consist of both traditional real estate but for short-term rentals. Regardless of whether you want to rent to those that live in the area or those that visit the area, the market is hot!
The Job Market
There are many good real estate investments due to the immense job market available in and around the City of Denver. The state – as a whole – has been ranked #1 for the job opportunities currently available. The state’s unemployment rate is currently sitting at less than 3%.
This is ideal for those seeking out good real estate investments because – in Denver – almost half of the entire population in the area rents their home. Due to the fact that the job market is so strong, tenants will have the financial backing that they need to pay their rent.
Furthermore, real estate investors can actually increase the amounts that they charge for rent. Investing in the real estate market now will result in higher returns on investments almost immediately.
Population Growth
The economy of Denver is strong and it is steady. As the result of this fact, the population is growing at an extremely fast rate. Currently, there are approximately 3 million people in the area. By the year of 2020, the population is expected to grow another 3.3 million.
A total of population of nearly 7 million – by that time – is expected.
This means there is an excellent opportunity for property investors.
Resources:
https://www.forbes.com/sites/ingowinzer/2016/07/31/should-you-invest-in-denver-area-real-estate/
https://www.rentgrace.com/blog/top-3-colorado-cities-for-real-estate-investors
https://www.biggerpockets.com/forums/549/topics/492246-where-to-invest-in-colorados-high-priced-market