I wanted to share with you my experience working with an investor. This investor was is using a 1031 Tax Deferred Exchange to take the proceeds on a recent real estate transaction and rolling it into residential real estate in Denver. One of 3 properties we found was in the Bonnie Brae, or Cory Merrill neighborhood of SE Denver. The Bonnie Brae / Cory Merrill area is known for being a little quieter than Washington Park, having a good elementary school (Cory) and having a heavy amount of building/development on the larger lots (6250 or larger). The home we found had 9 showings on the first day but we got it under contract with a strong offer. The home is about 1,000 square feet, move-in ready with a rough finish in the basement and a 2 car garage. It should be a good rental for now, and then my clients may end up moving into it.
For more information about the Bonnie Brae / Cory Merrill area call me at 720.203.9624, or look us up online at www.BevGrothProperties.com