Arvada, CO

Investor often ask me what types of real estate investments are available on the market. Here's what we tell them.

Please offer comments - positive or negative!

Assignments. If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing. You will need to have a strong "sales" personality to succeed at it, though.

Rental Condo or Rental Home. Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term. This is how most new landlords get started. You can hire out all of the property management functions, but in many cases you will do many of them on your own. There are smaller down payment requirements than for larger rental buildings. The purchase process and financing process is very similar to what you experienced buying the home you live in now. It's a great way for beginners to get started.

Small (2-4 units) Apartment Building. Purchase of duplex, triplex or quadplex to be rented to tenants, usually for 6-12 month terms. Usually what the rental home / condo landlords graduate to. In most markets they cost a little more than a rental home, but are much more likely to cash flow on the average month. Less cash flow risk; if one unit is empty you have other tenants that still help you with the mortgage payment so it doesn't all come out of your pocket. Many owners will start to delegate some of the property management tasks to an on-site assistant (typically the most responsible tenant), such as yard maintenance and showing empty units. The financing process is only slightly more involved than a residential loan. Relatively small down payment requirements make it affordable. The purchase process is also very similar to purchasing a home. It's a good way for beginners to get started.

Large (5+ unit) Apartment Building. Still targeting tenants for 6-12 months at a time, buildings with more than five units are considered "commercial" property. The loans are more difficult to qualify for, and usually a larger down payment is needed. Uncommon for the new investor; this is usually what landlords with several years of experience "trade up" to. Cash flows on larger buildings are more stable than for smaller buildings, and the economies of scale make it practical (and desirable) to hire a property manager to take over most the work for you. This takes reduces the hassle factor of the landlord process.

One thing about Arvada, Colorado (an historic town between Denver and Boulder) - it’s criss-crossed by train tracks.  Arvada’s history is intertwined with that of this nation’s rail system.  And whether you love ‘em or hate ‘em, the sound of train horns are a part of life in Arvada.

People who live very close to the tracks tell me they get used to the sound, but not everyone feels the same at midnight or two a.m.!  

The City of Arvada has been working hard to come to the aid of the sleepless - new measures have been approved by the Federal Railroad Administration to create ‘Quiet Zones’, where the routine blowing of the train horn will no longer be required.   The City focused on the Union Pacific tracks that carry an average of 25 trains per day and determined that they’d get the most bang for the buck where the line intersects Pierce Street, Kipling Street, W. 72nd Avenue and Simms Street. 

At the time of this writing, construction had been completed at all but the last named intersection.  There is a 21-day notification period before the blowing of horns will subside. 

This is wonderful news for homeowners located near the tracks.  Even if they enjoy the lonely sound of a train horn, when it’s time to sell the home place those tracks make buyers shy away.  Wise listing agents will point out the fact if a nearby intersection is one of the ‘Quiet Zones’

Click here for my post on Old Town Arvada.

Click here for more about historic Arvada

Click here for Arvada festivals

Check out my website.

Subscribe to my blog using the button to the right.

The story of Arvada begins with the discovery of gold in 1850, and the rail lines that followed soon after.  Trains of the Colorado Central Railroad passed through the Arvada village twice a day. Passengers could travel east to Denver or west into the mountains as far as Black Hawk and Railroad Street became a thriving business area.

That street is now known as Grandview, and what a view it is.  The quaint shops along Grandview sit at the top of a hill and as you stroll along her sidewalks you can see all the way to Pike’s Peak on a clear day.

Arvada’s Olde Town is one of the things we like so much about her.  None of the other cities between Denver and Boulder have a city center at all.  Olde Town affords Arvada a unique opportunity for community fun and frolic.  Arvada’s annual Chocolate Affair, Kite Festival, Arvada Celebrates Its Trails, Gold Strike Festival, Independence Day Celebration, Harvest Festival, Festival of Scarecrows, and Wines for the Holidays Wine Tasting are fondly remembered by her families as they make each event a favored tradition.

But there’s more!

Arvada’s lucky families get to enjoy Music on the Streets (Thursdays), Concerts in McIlvoy Park, the National Night Out,  .5k Endurance Challenge, Flicks in the Square at dusk on Fridays, Trick or Treat Street, Lagniappe & Tree Lighting, and Holiday Carriage Rides, Santa, and Carolers.

But if none of that floats your boat, maybe one of Arvada’s 3 public golf courses will.  The 27-hole West Woods Golf Club boasts a panoramic backdrop of the Denver skyline and magnificent mountain peaks.  Lake Arbor Golf Club is a short par 70 course where rounds are frequently played in less than four hours. (It’s a favorite with locals for those times when we don’t have a full day to devote, but the course is calling!) And Indian Tree Golf Course where you can revel in the pristine scenery of the Rocky Mountains

Plus - Arvada offers over 140 parks and currently manages over 2,000 acres of parks, lakes and open space that are connected by a unique system of creeks, canals and trails.

I don’t want to bore you with how great Arvada is, but let me just mention -

• 
  ·      Bird's Nest Disc Park, situated in the foothills of the Rocky Mountains just east of Highway 93 on 64th Avenue;
  
•  
  
• ·      Arvada's first Off-Leash Dog Park, located approximately 1/2 mile east of 
• Highway 93 on the north side of 64th ;
  
•  
  
• ·      The Apex Center with its two ice rinks, 23,000 square feet of water fun, rock climbing walls and indoor adventure playground for young children;
  
•  
  
• ·      Arvada/Blunn Reservoir, which is open to the public for fishing, hiking, and 
• boating (gas-powered boats are prohibited), Located at 18915 W. 64th Parkway.
  
•  
  
• ·      The Arvada Center for the Arts and Humanities, the cultural center of the community, offers professional theater, children’s theater, concerts, art exhibitions, a history museum and arts and humanities classes for all ages.
  
•  
  
• ·      Majestic View Nature Center and Community Park is over 80 acres, which include
•  a lake and wetland areas, an interpretive trail, prairie grasses and an 
• assortment of wildlife.  Located at 7030 Garrison Street, 720 898-7405.
  
•  
  
• ·      Two Ponds National Wildlife Refuge right off 80^th Avenue and Kipling.  Who 
• would have expected that in the middle of our busy community?
  
• 
  
•  
  

Of course, even people who live in the nearby towns of Westminster, Broomfield, Thornton, Northglenn, Lafayette, Louisville, Longmont and Golden can join us in our fun and recreation any time!

If you’re wondering about Arvada’s other neighborhoods, housing, public transportation, schools, employment, etc., you’ll have to wait for future posts. (Or give me call - 720-353-8031)  For now, I wanted to share Arvada’s unique Olde Town and extensive parks, trails, and entertainment venues. Arvada - a great place to live and create life-long friendships and memories.

Click here to learn more about Arvada.

Check out my website.

Find all the homes available in Arvada, Westminster, Broomfield, North Denver, Thornton, Lafayette, Louisville, Wheat Ridge and Golden.

Subscribe to my blog using the button to the right.

Investors often ask me what types of real estate investments are available on the market. Here's what we tell them.

This is the first of several postings on the topic.

Please offer comments - positive or negative!

Assignments. If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing. You will need to have a strong "sales" personality to succeed at it, though.

Rental Condo or Rental Home. Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term. This is how most new landlords get started. You can hire out all of the property management functions, but in many cases you will do many of them on your own. There are smaller down payment requirements than for larger rental buildings. The purchase process and financing process is very similar to what you experienced buying the home you live in now. It's a great way for beginners to get started.

Small (2-4 units) Apartment Building. Purchase of duplex, triplex or quadplex to be rented to tenants, usually for 6-12 month terms. Usually what the rental home / condo landlords graduate to. In most markets they cost a little more than a rental home, but are much more likely to cash flow on the average month. Less cash flow risk; if one unit is empty you have other tenants that still help you with the mortgage payment so it doesn't all come out of your pocket. Many owners will start to delegate some of the property management tasks to an on-site assistant (typically the most responsible tenant), such as yard maintenance and showing empty units. The financing process is only slightly more involved than a residential loan. Relatively small down payment requirements make it affordable. The purchase process is also very similar to purchasing a home. It's a good way for beginners to get started.

Large (5+ unit) Apartment Building. Still targeting tenants for 6-12 months at a time, buildings with more than five units are considered "commercial" property. The loans are more difficult to qualify for, and usually a larger down payment is needed. Uncommon for the new investor; this is usually what landlords with several years of experience "trade up" to. Cash flows on larger buildings are more stable than for smaller buildings, and the economies of scale make it practical (and desirable) to hire a property manager to take over most the work for you. This reduces the hassle factor of the landlord process.

Lease Options. Again you are seeking a tenant for a property, but usually for a slightly longer term (12-18 months) and frequently (though not always) with the goal that the tenant purchase the property from you at the end of the lease. If you purchase the property, then it's an easier process; if you find a highly motivated seller to let you re-lease the property to another tenant, it can be a lot of work to set up. However, the re-lease method doesn't require any cash out of pocket and does not rely on your credit score, so it is appealing to many investors. Great for beginners with the right skills and attitude.

Fix and Flips. Purchasing a home that needs work. The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely starting over. Usually does not involve tenants, and the objective is to get in and out of the property as quickly as possible. Great for beginners with the right skill sets or the willingness to learn.

Conversion of Apartments into Condos. A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment building to condominium. Often requires renovation of the units to meet the expectations of owner-occupant buyers in that area. Complex and time consuming, but has wonderful tax advantages compares to fix and flips and often has superior returns to all other asset classes. Ideally suited for the sophisticated investor with extensive experience.

Scrapes, Pops and New Construction. Purchasing a small home in an expensive neighborhood that may or may not need work. The home is bulldozed and a new home or duplex is put on the lot. Alternatively, the existing home is renovated and more square footage is added on. A pop-top is adding a second story to an existing home to add more square footage (commonly, a master bedroom suite).

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Contact me at mikewelk@gmail.com or 303-263-3217 for more info.

Arvada's annual Harvest Festival is September 6 - and if you're looking for old-time fun, one of the longest parades that you have ever seen, and some yummy treats, head on down to Olde Town Arvada!

The committee has definitely stepped it up this year - check out their new website!

There is a Spelling Bee, a Kids Parade, a Teddy Bear Picnic, and tons more to do at this all-day event.