Let’s talk about a Gold Rush.
Not the Gold Rush of the mid-1800s. We’re talking about the modern times and what real estate investors have to gain in a market like Golden, Colorado. With a deep and rich history that goes back to the nineteenth-century search for everything that glitters, Golden, Colorado is a city that exudes an old-world charm mixed with modern vibrancy.
This unique suburb of Denver offers an exceptional combination of high quality of life, rich culture, top-rated schools, and thriving businesses. For real estate investors, Golden offers plenty of opportunities that continue to show promise even in the face of the changing real estate market.
As local property managers in Golden, we get to see and experience the success of our investors and property owners all the time. We work with them to increase rental values and home prices. We dig through the data that we gather on rental values, market trends, and tenant demographics. All of this leads to a number of real estate success stories in Golden, Colorado. We want to share with you why this city makes a great place for your investment.
There’s no reason that you can’t be the next success story.
Golden’s Strong Demand for Rental Properties
There’s a high demand for rental properties in Golden, and that means investors don’t have to agonize over long vacancies, high turnover, or a lack of tenants. The tenant pool is actually thriving, and that’s primarily fueled by two things:
- This is a college town. The Colorado School of Mines, a world-renowned engineering school, draws in many students, faculty members, and researchers, all of whom need housing.
- The sales market is keeping people in their rental homes. The market has peaked just a bit, but prices for homes are still high. Consider that as well as rising interest rates which have made mortgages nearly unaffordable for a lot of people, and you can see why many potential homeowners might feel safer renting for a while longer.
- Location, location, location. You can’t beat the small town feeling of living in Golden.
Moreover, Golden’s proximity to Denver and other surrounding cities make it a convenient home base for people who work in larger metro areas but prefer a quieter suburban lifestyle. With remote work becoming more normalized than ever, a large population of tenants don’t have to go into the office, so living in a large city is no longer necessary. That’s a great development for real estate markets like Golden. We’re exactly the type of city that highly qualified renters are looking for, especially when they can work from home.
As a real estate investor, you can leverage this demand and invest in rental properties, such as apartments, condos, and townhouses, to generate a consistent flow of rental income and long-term returns.
Single-Family Homes Lead to Investment Success
While all rental properties in Golden, Colorado offer investors a steady stream of passive income, single-family homes in Golden are especially a source of success for owners. These investment types offer an attractive opportunity for real estate investors because they come with higher rents and a higher rate of appreciation.
Well-qualified tenants are looking for single-family homes because they want to enjoy the experience of having a home without actually buying one. They get the space and privacy that they want without all of the maintenance and financial responsibility of owning a home.
Location will be especially important when choosing a rental home in Golden. Good tenants will be looking for attractive neighborhoods that have good schools and are close to restaurants, shopping, and other conveniences.
New construction as well as older, established neighborhoods make excellent investments. With a host of amenities like parks, pools, Fossil Trace Golf Course, the foothills, the easy commute to I-70, and all that the mountains have to offer. These Golden locations offer tenants across all demographics a great place to call home.
Golden’s reputation as a college town works in your favor as an owner because unlike in other markets, many graduates choose to settle in the area and start their lives. With such high demand, single-family homes appreciate fast, offering an excellent opportunity for long-term investments.
Golden, Colorado’s Diverse Economy and Job Market
Golden, Colorado, is not just a college town or a historical western town, but a thriving business hub, thanks to diverse industries such as renewable energy, engineering, and technology. The broad range of industries translates to a steady influx of young professionals, researchers, entrepreneurs, and business owners from different parts of the country, all in search of better opportunities and a higher quality of life. As a real estate investor, this means that the demand for housing will continue to grow, creating a conducive climate for investing and realizing significant returns.
Some of the largest employers in Golden include:
- Coors Brewery
- National Renewable Energy Labratory (NREL)
- Colorado School of Mines
- Ball Canning
- KONG Dog Toys
Investors looking for new markets never want to settle for a city that thrives on a single industry. This is dangerous, and it’s better to look for a more diverse economy that succeeds thanks to multiple industries and businesses.
How to Succeed as a Real Estate Investor in Golden, CO
If you’re ready to invest and hoping to have your own success stories thanks to owning Golden rental properties, we have some tips.
- Do Your Research and Get to Know the Market
We’ve told you about the high demand for rental housing, the rising rental rates, and the excellent real estate that’s available in Golden. It’s still a good idea to do your own research. Real estate investing, as you know, is a complex field, and it is easy to get overwhelmed by the countless options and strategies available. If you’re already an experienced investor, you understand that it’s essential to research the market, study the various investment options, and develop a clear investment strategy that aligns with your goals and resources. By doing so, you can maximize your chances of success and avoid costly mistakes.
If you’re new to real estate investing, the research is even more critical. You have to know what the price points are for the property types you’d like to buy. You need to understand the difference between buying an investment property and choosing a home that you plan to live in yourself. Be strategic and intentional. There’s no rush. The market is competitive and fast-moving, but you don’t want to buy something just because it’s available. You want to buy something because it fits your goals.
- Surround Yourself with a Strong Network of Real Estate Experts
Investing in real estate requires a lot of collaboration and networking. Successful investors build strong relationships with professionals such as real estate agents, property managers, contractors, insurance agents, accounting professionals, and attorneys who can provide advice, support, and referrals when needed. Additionally, networking with other investors can help you learn from their experiences (as well as mistakes) and gain valuable insights into the industry.
If you have not considered who you’ll want in your network, put together a group of professionals now. Your real estate agent will be key in helping you identify available properties and negotiate the best deal. A property manager partnership is also absolutely essential at the beginning of your investment journey, too. Don’t wait until you close on the property and you’re ready to rent it out. Lean on your property manager for help in understanding how much rent you’ll be able to earn on a particular property, whether a lot of work will be needed in order to get it ready for the rental market, and how to position your investment to attract the best tenants.
- Consider Cash Flow and Earnings
It’s not the only way to measure investment success, but it’s one of the most critical elements of success in real estate investing. We’re talking about cash flow. Focus on finding properties that generate positive cash flow, even if they may not appreciate in value as quickly as other properties. Positive cash flow ensures that your investment is sustainable over the long term and gives you the financial flexibility to take advantage of other investment opportunities as they arise.
Luckily, the Golden rental market allows you to do both. You may need to be patient and start small, but it’s possible to earn in the short term and the long term when you buy property here.
Continue to educate yourself when you want to succeed with real estate investments. The real estate market is constantly evolving, and successful investors must adapt to changes and stay informed about the latest trends and strategies. Continuously educate yourself by reading industry publications, attending workshops and seminars, and networking with other professionals. By doing so, you can stay ahead of the curve and position yourself for long-term success.
Golden, Colorado, is a prime spot for real estate investing, offering various opportunities for generating income and building wealth. Whether you’re looking to invest in rentals for the first time or you’re rowing an established portfolio, Golden offers a conducive climate for growth and success. As a real estate investor, your success in Golden will depend on finding the right property, knowing how to add value to it, and investing for the long term.
We can help you write your own success story. Please contact us at Laurel Property Services, Inc. In addition to providing property management in Golden, we also serve Wheatridge, Morrison, Lakewood, Arvada, and Genesee, CO.
