City Guide / Denver

Denver Property Management: Renting vs. Flipping

By Landing | Jun 14, 2020
Apartment in Denver, CO

When it comes to the Denver property market, many people wonder if it’s better to go into management themselves or remain renters. After all, a Denver apartment can sometimes come at a premium. Even in the past year, some average apartment rental prices have continued to climb. The same applies to the nearby neighborhoods Colorado Springs, Fort Collins, and Boulder.

Many individuals consider house-flipping as an alternative to renting, but this also entails identifying a  temporary housing space in the right neighborhood. If you’re wondering which option is better for you, there are a few key things to keep in mind. Between amenities and floor plans, as well as the work required to flip a house, here’s what you need to know if you’re deciding between renting and flipping.

What is house flipping?

House flipping is the practice of buying property and fixing it up for a profitable sale. You may find a fixer-upper and update the kitchen, add a walk-in closet, install a washer, dryer, and granite countertops, and try to turn a profit. While house flippers often have temporary access to the property while they work on it,it isn’t always the best idea to live in a space that you’re renovating.. After all, who wants to live in a constant construction zone?

In Denver, CO. in particular, house flipping can be quite lucrative. That’s because housing prices in the Mile High City keep climbing. The housing market is almost like the gold rush these days. On top of that, if you’re able to secure a property within walking distance of restaurants, golf courses, acres of parks, or even the Denver Zoo, you’re primed to make a hefty sum from your investment. Selling a new home or even using units for rentals can be a great investment for anyone in the U.S.

What’s the Denver rental market like?

No matter the neighborhood you choose, the Denver rental market can be fairly competitive. Available rental units can get snatched up quickly, especially if they’re in a convenient location for tenants. When you throw in added neighborhood values like a spa, 24-hour fitness center, mountain views, high ceilings, and a fireplace, that price can climb even further. In many areas, single-family rentals and two-bedroom apartments near vibrant nightlife spots are most popular. If you combine that with easy access to rows of creative restaurants, a short drive to Red Rocks Park, and the home of the NFL’s Denver Broncos, it’s clear why the state’s largest city has a high-price mindset.

If you’re looking for the perfect place to call home, you need to break up your list between wants and needs. While hardwood floors, a rooftop terrace, and incredible views of the mountains would be ideal, these are wants – and they’re certainly not necessities. However, needs like access to a playground for your children or being in spacious suburbs are important too. If you want to see what a complex has to offer, schedule in-person tours or virtual tours to get a look at what these Colorado apartments have to offer.

You also want to consider community amenities as well. After all, living in Capitol Hill is different from living in Greenwood Village or Englewood. If you want the hustle and bustle, Capitol Hill and downtown Denver are prime neighborhoods. If the Capitol Hill neighborhood sounds a little too busy, you can consider the more quiet communities of Cherry Creek, Congress Park, or Wash Park. For business, you may want to consider the Denver Tech Center (DTC). The DTC is home to some of the city’s top companies, so it’s perfect for a short commute.

While the city center is full of sights and sounds, some individuals don’t want to be right up next to Union Station. It can also impact the features of a multi-bedroom apartment such as closet space, access to a balcony, and proximity to trails. Though the city center and Union Station are fixtures of LoDo, much like Coors Field, it may not be a great location for everyone.

Start here, live anywhere

With over 7,000 apartments in our network, you're free to roam with Landing.

Play Icon

Start here, live anywhere

Should you rent or flip?

Denver’s balance of renters and homeowners is well-matched, but the past year has shaken up the market. Renting allows you to move around the city more freely. You can make a personal connection with your home, visit Cherry Creek State Park, and catch a game at Coors Field. When you’re ready to move, you can choose a one-bedroom apartment near cultural amenities like the Denver Botanic Gardens, Larimer Square, Cheesman Park, and the Denver Art Museum. The city is full of independent shops too, and since you won’t be spending your time on a housing project, you’ll have more free time to explore.

Flipping, on the other hand, is both a housing venture and a career. You could spend one month installing a fitness center in a house in Arvada and the next month setting up a washer and dryer in Englewood or Aurora. You also need a fair amount of capital to consider flipping. If you look on Craigslist Denver, you may be able to find some fixer-uppers, but this isn’t a guarantee.

How do you find a rental?

When you’re looking for a rental, you’ll likely visit the web property of an apartment finder or real estate company. An apartment finder lets you filter by neighborhoods like Aurora, Greenwood Village, and Cheesman Park. If you want to be in the foothills of the Rocky Mountains, you can search for a property in that region. If you want to be closer to the city than the Rocky Mountains, that’s an option too. If you’d love to live within walking distance of the Ogden Theatre, there are options for that as well.

On top of complexes with courtyards, Victorian-era buildings downtown, and rentals with stainless steel appliances and short drives to great outdoor adventures like world-class skiing, there are also apartments in Denver that are furnished. If you search “furnished apartments in Denver” or “Denver furnished apartments,” you can find units that are move-in ready. That way, you can walk in the front door and feel like you’re at home.

Denver is full of activities and excitement. From the MLB’s Colorado Rockies to the NFL’s Denver Broncos, and NBA’s Denver Nuggets, there are sporting events aplenty. There’s also plenty of  western heritage and you can visit the Denver Museum of Nature or a nearby mining town for some excitement. Whether you decide to rent or flip, you’re sure to find a place in the Mile High City that you can call your new home.

blog-cta-city-denver
Landing

Ted may be the world's slowest typist and struggle to hold a pen, but he has mastered how to pursue a more flexible lifestyle throughout his airborne adventures around the U.S. Whether you're looking for more information before migrating to a new city or want to find an easier way to rent a nest—erm, apartment—Ted will always be here to share his best advice for where to live and how to thrive.