The Denver luxury real estate market can be a real problem to navigate. Really, most luxury real estate markets can present a host of challenges to the discerning property flipper with an eye to making a small bundle on a piece of property. I think most people are aware that the 2008 financial crisis really put a damper on the real estate market. They had been overbuilding for years, and it became apparent when the bottom fell out. Remember all those shows back then about people flipping property and making big bucks? You don’t see them much nowadays.
I still dabble in flipping properties, but not as much as I did fifteen years ago. If I see something good pop up on the radar, though, I will jump on it. I thought I saw something that would make me a lot of money in Denver about a year ago, so I had my people make an offer and snatched it up for a song. Everything seemed great about it: the location was great, sound construction, and well maintained. And since I got it for such a low price, I knew I was going to do well on it even if I had to come down a bit on the price.
Imagine my shock when I couldn’t move it. No one was making an offer, and I was getting irate about shelling out the costs to keep the property current. I finally looked for a top notch mover in the real estate field out there and found a person who is known for moving difficult properties. He made quite the impression on me and understood my problems. I’m not kidding when I say he had a buyer lined up in less than two weeks. Even better, he got me an offer bigger than what I thought possible!