At the beginning of the year we sold a rental home of ours in the mountains that we had built from the ground up a few years ago that we were renting out long term. I had my eye on several different options to do a 1031 exchange into, including Denver apartment buildings for sale, and several single family homes.

We ended up closing on ‘Little Red’ a few months ago and just wrapped up the renovations which included a whole new kitchen, new main bath, all new windows, new attic insulation, radon mitigation, and several smaller items. The best part about ‘Little Red’ is the overall location of the property. Chautauqua is super close to world class hiking trails, but our location is only 4 blocs to Colorado University as well, which makes it a lively active neighborhood. Another benefit of the area is real estate selling in the 5-8M range only blocks away from Little Red. We just dropped some good $$ into the property and my kids still might attend CU, so we’re not going to hiring a bulldozer anytime soon, but the option is there for a future spec home development.

The strategy my wife and I have used for many years investing in real estate is called BRRR, which stands for Buy, Rehab, Rent, Refinance. We’ve never really done the refinance part, but many investors scale their portfolio going this direction and I’m happy to discuss the pros/cons of this strategy.

Check out some of the photos of the property showcasing the remodel and reach out if you’d like to find yourself a similar property to add to your portfolio:

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