Denver is Number 1 for Ivy League graduates moving in, Number 16 in North America for Number 5 for Under 30s moving in.
Opportunity definitely lies with the millennials. But not where you think.
As land prices and construction costs have risen, Phil Sustronk says opportunities that brought in spectacular returns just a few years ago are now getting squeezed. The opportunities for high returns are moving.
Land prices are rising and construction costs are following them fast. Producing a product that taps into the lucrative millennial market is getting harder and harder.
Duplexes are now selling for $800k each in Denver. Most millennials just don’t have the cash to buy at that price – but they would beat down your door if you could give it them for $450,000.
That’s where Phil’s advice comes in.
Phil is a serial entrepreneur who was previously the CEO of a publicly traded company.
He started his RE developer business, Sustronk 6, after the 2008 crash. In the beginning, he flipped foreclosures and tax liens but now he concentrates on new construction.
I’ve known Phil for years. We’ve developed a couple of duplexes together, including on 4528 Utica., 4519 Vrain St, 2335 Julian, 4560 Stuart, and others….
So I sat down with Phil knowing I would get some great information for you – but even I didn’t expect him to share the sheer amount of insights he spills out on this video.
He shares his insights on where the market in Denver is headed and how to make the most out of it. Delving into some of the lessons he’s learnt over the past 3 years, he talks about how the desire for square footage and gardens has faded.
Instead, theres a premium on easy access to the light rail and producing a product that’s an affordable step on the housing ladder for the thousands of millennials moving in.
This knowledge alone reveals where you should be looking for new opportunities opening up in the next 5 years.
We go on to discuss how to keep your RE business thriving in all market conditions, why Phil doesn’t think of construction as his main business anymore and he demystifies the complexities of using other people’s money to fund your developments.
In this video you’ll discover;
- Why you SHOULDN’T be designing your duplexes for millennials,
- Where the new gold rush market in Denver RE is right now,
- How to capitalize on it,
- Why you need more than just a Realtor to find new lots;
- Why bank financing just doesn’t work and,
- How to attract private investors instead.