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While Denver residential real estate investors haven’t engaged in flipping properties as much as investors in other areas, it still can be a viable way to make money. In fact, the city is buzzing about the success of several brokers who saw an opportunity and seized it in the Glass House development near Denver’s Commons Park.
 
East West Partners priced this 389-unit development just below the $200s and real estate professionals took the bait. Buyers began closing on their units in late January and since then, 24 units have been resold for on average 20% more than the original sale price. East West Partners will introduce another similar development in the area later this year. It will definitely be a property to watch for investors looking to duplicate the same success that investors have had with the Glass House project.
 
If you’re interested in scoping properties ripe for flipping, there are a few things you’ll need to keep in mind:
 
•    Make sure the property is located in a sought-after location to increase your chances of selling it quickly.

•    Be sure to factor in carrying costs in the event you’re not able to sell it as quickly as you’d thought.

•    If you’re buying an older home to flip, be sure to have a full home inspection before you commit to the purchase. Costly repairs invisible to the naked or untrained eye are sure to eat away potential profits.

•    Make sure you’re aware of any restrictions. Some developers may require higher deposits and deed restrictions to prohibit flipping in certain areas which will cost you more money and will prevent you from selling until all of the units have been sold.

If you’re interested in learning more about flipping, or need help identifying properties that would be good buys for new or experienced investors, let us help you. With our experience and knowledge of the market, we can help you determine what move is best for you. With our guidance, you could be investing like a pro in no time!

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