Your Castle Real Estate can help you on your journey investing in real estate. There are three main things that we can do for you as an investor.
The Practical Guide to Colorado Real Estate Investing
First, we wrote a book about investing in Colorado real estate, The Practical Guide to Colorado Real Estate Investing. Our founder, Lon Welsh, didn’t write this because there is a shortage of great books on investing. Rather, he wrote it because most real estate investing books tend to be written at a generic level for a national audience. However, what works in Chicago real estate investing, does not necessarily translate to what works in Denver. The markets are different. His book is specifically about the Denver Metro and Colorado Springs markets. It is a lot more actionable for someone looking to invest in Colorado Real Estate. He also updates the information every 18 months. The strategies that work best for investing change all the time. The best part is that the book is free. We do not charge for it. Come to one of our classes and we would be delighted to give it to you.
Second, Your Castle offers real estate education webinars to help newer investors get started. We have found that the more educated one is and if they take time to learn the basics, they will make better decisions and be more successful. Additionally, these investors tend to buy a lot more rental properties down the road. It is a win for everyone involved.
Gross Rent Multiplier
The last thing is that Your Castle offers specific tools to help investors find where specifically they should buy. Sometimes finding a good rental can feel like finding a needle in a haystack. Gross Rent Multiplier (GRM) is a fantastic metric to find a good investment property. It is simple, easy math. It takes the price of a house or condo, divided by the estimated rent the investment could get. The lower the GRM, the better the return. Luckily, Your Castle found the GRM for every neighborhood in both Colorado Springs and the Denver Metro area. For example, we broke Denver up into 450 unique neighborhoods. We calculated the average price of 1, 2, 3, and 4-bedroom properties. We also calculated the average rent for those properties in each neighborhood. This allowed us to predict the GRM’s.
When you meet with a Your Castle agent, we can provide geography that is interesting for you as an investor. If you want a large or small property, they will get you a 1 bedroom or a 4 bedroom. We can provide whatever is appropriate to your need. This allows us to help you zero in on specific areas that are likely to have the best returns for your investment requirements.