Denver scored as one of the most profitable areas in the US to fix and flip homes the 3rd quarter of 2013. As markets heated up, cash buyers piled into the hotter markets across the US in droves with Denver. Reducing it’s property “average time on the market” down to something that resembled nothing more than vapor. The hottest commodity over the summer certainly proved to be existing single family residential homes and the market. While inventory is improving, is still sluggish at yielding this category of real estate in the numbers that meet current demand. Cash buyers for single family homes were flush. Many homes were purchased for the sole purpose of fix and flip.
Fix and Flip in Denver Metro
This year turned out to be a stellar year for this real estate strategy. The cash buyers that entered the Denver Metro and surrounding area markets came like the raging bulls of Pamplona. Subsequent trickle down effects are still reverberating in the market. After the dust settled, the single family home inventory resembled something that looked like a smoking pile of ash. With buyers still circling looking for anything they could lay their hands on. The cash buyer rampage left prices rising at an artificially speedy rate. It ultimately has driven rents through the ceiling in many prime areas with Denver Metro. It leads the country as 1 of several key markets that have seen unusually quick increases in rental fees.
This whole scenario has played out like a dream come true for those who rushed to purchase the fix and flip inventory in Denver. The rental prices for their efforts are being rewarded in the very top tier of what can be charged for their real estate in rentals. And there appears to be no cessation for rental demand going into the winter months. Don’t miss out on this market opportunity. If you are in the market looking for something affordable to renovate let one of our exclusive buyer agent specialists find the right property for you. Get started here.