Homes For Sale in the Boulevard One Lowry Denver Neighborhood

For real estate, the winter months often brings a lull in terms of selling a property. The holiday season tends to occupy many individuals’ time and energy, and attempting to buy or sell a piece of Denver commercial real estate can be a difficult process during this period. In addition, colder weather can make people want to wait for things to warm up before they take on the task of seeking new property to purchase. But the winter months don’t have to mean a total slowdown of all buying and selling in the field of real estate. Here are some tips for selling your properties during the winter months.

Keep Your Property Well-Maintained

This goes without saying in the world of real estate, as you don’t want to give buyers the impression that the property they may be purchasing is in a decrepit state. But when it comes to selling your property in the winter time, this will be especially important for the exterior of a property. Making sure that all paths are regularly shoveled and plowed is crucial for the selling process. If a person is unable to easily enter your property to view it, it will definitely reduce the possibility of selling it.

Provide an Additional Reason for Viewing the Property

In colder months, sometimes it can take an extra push to get people out of their warm and comfy abode. If you are hosting an open house or are simply showing off a property to one group of prospective buyers, incentivize them by serving warm and festive foods, such as hot cocoa, cider, and warming foods such as soups or stews on a particularly cold day. Turn the process of viewing your property into a fun and inviting experience, one that gets people to venture out in less-than-ideal weather.

Use Light Whenever Possible

During the winter months, properties can often look much darker and colder than during the spring or summer. One way of combating this effect is to utilize natural light whenever possible. Open up the blinds for prospective buyers as a way to bring as much light into the room as you can. If there isn’t a lot of natural light available, use spotlights or other lights which will make a room appear lighter and more inviting. If you can give the appearance of a warmer, lighter interior space it can do wonders for the selling process. 

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.
 

Investing in commercial real estate property in the Denver area can be an incredibly smart and lucrative decision. Earning consistent revenue through your tenants rent allows you to earn a steady cash flow of passive income, especially if you are able to delegate maintenance tasks to a trusted third party entity. But it’s not always a surefire guarantee that you will be able to make a hefty profit from your property, as various factors can play a role in taking money out of your pocket. One such factor to be aware of is how crime can play a significant role in how much your commercial real estate property is worth.

Crime: A Threat to Stable Price Increases and Potential Revenue 

It shouldn’t come as a huge surprise that crime is detrimental to property values in a neighborhood, specifically when it comes to violent crime. According to a study in the Journal of Crime and Justice, crime presents a threat to not only the stability of neighborhoods, but also the ability of property owners to sell their property in a swift manner. High crime areas tend to have higher vacancy rates in regards to both commercial and residential properties, as it will make an area much less attractive to potential buyers. 

High Risk, High Reward

Crime is certainly an unfortunate occurrence in any neighborhood, as it can lead to individuals feeling unsafe, both in regards to their living situation as well as venturing out to engage in commerce in the area. However, high crime areas do present a possible opportunity for ambitious investors seeking to revive, rebuild, and profit from urban blight. Of course, there are many factors to consider when engaging in such a plan, as it won’t necessarily be easy or a straightforward process. 

Taking the risk to invest in commercial real estate in higher crime areas can pay off handsomely if the area ends up turning around. One needs to look no further than the highlands neighborhood in Denver to witness how dramatic price increases can be in the span of several decades. Homes and businesses purchased in the mid-90’s have seen several thousand percent increases in value in some instances, showcasing the potential for serious gains in regards to investing in these areas. It is important to consider that simply investing in an area will not lead to massive price increases, as there are many factors that play into why an area is struggling with higher crime rates. 

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.
 

1) Understand the different types of properties

Pre-foreclosure or short sale properties are still under control of the homeowner, therefore both the homeowner and the lender must approve any offers that come through. Short sale properties are usually in better condition because the homeowner has taken action to prevent foreclosure. 
Auction properties are typically awarded to the highest bidder and are cash only sales. The lender can't make a profit at an auction sale, so the best deals go to the investors and bidders. 
Real estate owned (REO) properties are in full possession of a lender because no one bid a high enough amount at the initial auction. At this point, lenders are typically eager to get the property off of their hands, but keep in mind that the properties will be in worse condition by the time they get to this stage.

2) Get preapproved for a mortgage.

Unless you plan to pay cash or bidding on auction properties, you’ll need a recent preapproval letter from a lender. A pre-approval letter will detail how much money you can borrow, it is based off your credit score and previous financial history.

3) Know Your Numbers

Know your numbers before you buy. It's expensive to keep rental or fix and flip properties without tenants. Does this neighborhood have a quick turn around on homes? Is this house in need of lots of repairs before it can move to market? Elevation Realty, can help you get your numbers straight and find the perfect fit for your family.

4) Never skip the inspection.

Foreclosed homes may sit on the market for a long time, leading to a lot of problems that have gone unrepaired. In many cases these homes may have been previously owned by disgruntled owners that damaged the interior in some way. Never purchase any property without first going through a through home inspection. You never know what might be hidden in the walls or the floorboards. Hire a qualified inspector to know for sure.

5) Remember, the home is sold as-is.

You may get overly excited to see a low price on a foreclosed home, but keep in mind that purchasing the property is not the only expense that comes with owning a home. Many forclosed homes will need repairs, so before making an offer be sure to know how much of your budget you are willing to spend on repairs. 

6) Get a helping hand.

Foreclosed properties are heavily regulated, and each state has its own set of laws. When you’re ready to look into buying a foreclosed home, be sure to find a real estate who has experience in dealing with foreclosures. Although every real estate transaction can be complex, there is an added layer of complications and legal regulations that come along with foreclosed properties, so you need to have an experienced professional, like Elevation* Group, by your side.

Taking the initiative to invest in commercial real estate is a smart, if not bold step, towards increasing your investment portfolio. Having a hot, lucrative commercial property that earns significant returns as well as increases in value is a fantastic strategy for financial success. Making the move to purchase commercial real estate can become your ticket to bigger financial gains, especially in a market such as Denver, where a popular neighborhood can turn a commercial real estate purchase into the best financial decision you’ve ever made. But before you secure your commercial real estate property, you’ll likely require a loan to make the transaction a reality.

Secure a Downpayment

Purchasing commercial real estate differs from residential properties, in that you’ll likely need to have 20-30% of the purchase price up front in the form of a down payment. Securing a commercial loan, which will typically be a larger amount than a traditional mortgage, will be much more accessible to you if you are able to put up a larger amount of the total cost of the property. Your loan will be seen as a lower liability if you are able to put up more capital upfront.

Prepare Your Financial Documents

Typically, a bank or financial institution will want to learn as much as they can about the lender prior to making a decision to provide a loan. You will likely need to provide things such as five years of tax returns, financial records and reports of your business for the last five years of since its inception if it is less than five years old, and projected cash flow for your business during the life of the loan. Banks will like to see that your business will be able to produce a net operating income of a ratio at least 1.25 the yearly cost of the loan. If you loan is $100,000 per year, you will want to earn at least $125,000 in income during that same time period.

Consider Potential Lenders

For commercial loans, you will have options in terms of which lender you decide to work with. You can secure a loan with a bank, which will provide the possibility of good rates but also require the most documentation. You may also choose to work with a commercial lender, who will have less underwriting standards but will likely have higher interest rates. You can also seek out an SBA 504 loan, which will offer below-market interest rates but will be limited to qualified businesses only. 

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.
 

Investing in Denver commercial real estate is one of the most sound decisions you can make, as the mile high city’s booming economy provides plenty of opportunities for a high return on investment, especially within the commercial real estate space. However, investing in this highly valued asset is not necessarily an easy or surefire way to financial success, as there are plenty of wrong ways to go about the investment process. Here are some of the most common mistakes to avoid when investing in commercial real estate.

Not Fully Understanding the Market

It’s no secret that Denver’s real estate market has been hot in recent years, but this doesn’t necessarily mean it’s a sure thing when it comes to investing. Not all commercial real estate properties are created equal, as it is important to assess a variety of factors before spending your capital on a property. It’s important to look at the neighborhood and assess occupancy rates, demographics of the nearby population, rental rates of comparable properties, and competitive supply in the area. If your property is in an area that has a low occupancy with many competitive properties, it’s best to look to alternatives for making the smartest decision.

Focusing Solely on Returns

As with any investment, it can be easy to focus entirely on your return on investment as a top priority, and this is no different when it comes to commercial real estate properties. However, there are many other factors to consider when investing capital into a property. Factors such as appreciation, equity growth, and potential tax benefits are also important when deciding on which property to purchase. Outside of these factors, it’s also critical to take into account things such as maintenance costs and management fees, which can eat into your revenue.

Avoiding Intensive Questioning with Regards to the Property

It can be easy to look at an attractive property as a surefire route to investing success, but it is always important to question your assumptions as a check against making the wrong decision. If you are purchasing a property that will be made of mostly retail-based tenants but the retail sector in that neighborhood has seen store closures recently, it is a good idea to reconsider whether it’s the best decision. If you assume you will be able to easily rent out to long-term clients without any hassle, consult with comparable properties in the area to see what their average length of lease is in order to gauge what to expect for your property.

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.