Podcast
Denver Investment Real Estate
Hosted by Chris Lopez - Denver Investment Broker · EN
Denver Real Estate Investing Podcast
33episodes
Episodes
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#618: A $405K Rehab, a Tear Gas House, and $181K in Profit What These Flips Reveal About Denver Right Now
YesterdayTap to summarizeThe Denver fix and flip market 2026 is producing a strange combination. Strong showing activity and soft offer volume. One Arvada property sat through 57 showings in 44 days. The deal that finally came in fell apart when the buyer’s grandmother refused to release the down payment. That’s the market Derek Marlin is navigating right now. Derek Marlin founded Elevation in 2014. The company does fix and flips, wholesaling, fee-based project management, and runs a brokerage team at eXp. He also runs the Elevation Academy and the Broadway Collective, a Denver co-work space that recently hit 100% occupancy. His team runs 3 company flips at a time and operates at roughly 85% off-market acquisition volume. In this conversation, Derek Marlin and Chris break down the Denver fix and flip market 2026 from the ground up. Motivated sellers are still anchored to 2021 valuations. Carrying costs add up fast when deals drag 6 weeks longer than planned. Derek also walks through his 4-offer model. It gives sellers a cash offer, a fix-in option, a fee-based consulting path, or a partnership flip. The partnership flip now requires putting the seller on title in an LLC before Elevation funds the rehab. That change came after too many sellers changed their minds mid-project. In this episode we cover: Why 57 showings in 44 days produced almost no offers and what Derek Marlin thinks that signals about buyer behavior in the Denver fix and flip market right now The Arvada flip case study at 8506 Union Circle, $60K rehab, listed at $725K, 57 showings, one terminated contract, and a final sale near $700K How a grandmother ended a $719K deal 3 days after inspection by refusing to release the down payment funds The 4-offer model Elevation uses with every seller, and why the partnership flip structure now requires LLC title transfer before any rehab capital goes in Why Derek Marlin is running 85% off-market and what ratio he actually wants to hit The tear gas house case study, a SWAT-raided Centennial property taken to studs, $405K in rehab, sold near $1.4M, with the client clearing $181K in 6 months What Elevation Academy covers in a full day and what the $997 includes Derek Marlin’s outlook on the Denver fix and flip market, optimistic long-term, defensive on underwriting right now Derek Marlin’s direct, data-grounded take on current conditions is the kind of real-time Colorado flip intel you won’t find anywhere else. If you are active in the Denver fix and flip market in 2026 or thinking about getting started, this episode is worth your full attention. Watch the Youtube Video https://youtu.be/dt6dUPU0vz4 Timestamps 00:00 Derek Marlin and Elevation intro — flips, wholesaling, brokerage, education 02:29 Denver flip market read — healthy but disillusioned 07:30 Motivated sellers anchored to 2021 — how to reframe the conversation 06:47 Arvada flip case study — $60K rehab, $725K list, 57 showings, 44 days on market 11:05 Grandma terminates the deal — undisclosed down payment source kills $719K contract 12:25 Velocity of money — why Derek dropped to $700K instead of waiting 20:32 Off-market acquisitions — 85% off-market and the target 70/30 split 27:39 2026 deal flow — 3 company flips, 5 consulting clients, 7 wholesales 30:39 Price Points and Wholesaling — Why Derek Stays Below $900K and Passes the Rest 33:39 Tear gas house — SWAT raid, $405K rehab, $1.4M sale, $181K client profit in 6 months 37:30 Elevation Academy — $997 full-day training, June 5th, what’s included 39:24 Denver market outlook — optimistic long-term, defensive on underwriting Links in Podcast Elevation: elevationinvest.com Elevation Academy Flip mentioned in this episode: 8506 Union Circle, Arvada, CO
Transcribe →#617: How to Avoid the GC Mistake That Turned a $1.2M Bid Into a $2M Build
1w ago00:26:32Tap to summarizeThree years into a Denver luxury redevelopment, Paul DeSalvo knows what real estate development mistakes actually cost. Paul, a Denver real estate investor and broker, is back to walk through every one of them. In this episode, Paul returns to update host Chris Lopez on a sweeping redevelopment in Berkeley, Denver — a 1902 Victorian transformed into a 5,500 sq ft, 6 bed/6 bath luxury home with an 850 sq ft ADU and 3-car garage. He shares what went well, what hit hard, and what every investor should know before breaking ground on a project like this. The budget surprises alone tell the story. A foundation that needed a full rebuild added $75,000 to the project. An asbestos mass spill ran $30,000. Denver’s Affordable Housing fee — charged on any addition over 400 sq ft — came in at $25,000, a cost neither Paul nor his GC had flagged. A new water line tap added another $12,000. Combined with items left off the original budget entirely and inflation across lumber, drywall, and appliances, the project pushed well past the original estimate. The contractor selection story is the most instructive of all the real estate development mistakes covered in this episode. Paul and Val interviewed five or six GCs. Most bids came back between $1.8M and $2.1M. One came back at $1.2M. They went with the low bid. That contractor’s experience turned out to be primarily remodels and pop-tops — not ground-up luxury construction. By the time the project wrapped, costs had converged right where the other bids landed. Paul walks through exactly what he would look for differently and why verifying the type of experience matters as much as verifying the experience itself. In this Episode: Why the lowest GC bid on a luxury build is often the most expensive choice How to verify contractor experience by project type, not just project count The Denver Affordable Housing fee and how it catches smaller developers off guard What scope creep actually looks like on a high-end redevelopment and how to manage it Why architect and builder coordination failures cost more than either party’s mistakes alone What has gone well on the project and what Paul is genuinely proud of Paul’s honest take on whether he’d take on a project like this again If you are planning a luxury build or any ground-up construction project in Denver, this episode is a practical field guide from someone who has lived every one of these real estate development mistakes and made it to the other side. Watch the Youtube Video https://youtu.be/C0VvCr-O_7w Timestamps 00:00 – Welcome and project recap — Paul returns to update on his Berkeley, Denver build  01:15 – Off-market acquisition — how a neighbor relationship led to buying the 1902 Victorian  03:26 – Full project scope — 5,500 sq ft total, 6 bed/6 bath, ADU, 3-car garage, five fireplaces  06:30 – GC selection process — interviewing five or six contractors and how they made the call  07:49 – The experience gap — why pop-top and remodel experience doesn’t carry over to ground-up luxury builds  12:02 – Budget blind spots — items left off entirely, inflation, and the real cost of scope creep  15:15 – Denver’s Affordable Housing fee — an unexpected $25,000 charge tied to additions over 400 sq ft  16:50 – Asbestos mass spill and foundation rebuild — $30,000 and $75,000 in back-to-back surprises  18:24– What has gone well — design outcome, ADU pace, and finishes staying on schedule  19:44 – Advice for luxury builds — why low bid outliers deserve the most scrutiny, not the least  23:40 – Architect and builder coordination — why cohesive team relationships are as important as individual credentials  24:46– Paul’s outlook on future development — honest take on whether he’d do it again Links in Podcast Connect with Paul DeSalvo firehousehomes@gmail.com Fire on FIRE Investing https://fireonfire.org/ Paul co-founded Fire on FIRE Investing alongside fellow firefighter Jamin to help first responders build financial security through real estate. The organization offers one-on-one consultations and education covering single-family rentals, house hacking, multifamily, 1031 exchanges, and passive investing opportunities.
Transcribe →#616: Denver’s 2026 Market Feels Weird Right Now… Here’s Why
2w ago01:02:39Tap to summarizeThe Denver housing market April 2026 update shows a familiar story. Prices have been flat for three straight years. Rents have softened back to levels not seen since late 2021. So where does that actually leave Colorado investors right now? Chris Lopez brings the full panel together for this monthly update. Jenny Bayless covers the Colorado Springs market as both a broker and active investor. Jeff White of Envision Advisors tracks Denver’s small multifamily market closely. Brandon Scholten manages over 1,000 units at Keyrenter Denver and owns rentals himself. Troy Howell of Nova Home Loans rounds out the group with a lender’s perspective across Colorado. The panel works through the DMAR April report together. Denver’s median closed price sits at $605,000 this month, essentially unchanged from $604,000 in April 2025 and $602,000 in April 2024. In inflation-adjusted terms the market is down. Detached single family is holding, up about 1% year over year. The average condo price is down nearly 5% year over year. In the Springs, the median sits at $480,000 with sales up 8.5% month over month and month supply at 3. Rentals get a close look too. Concessions are up. Rents have pulled back to near Q4 2021 levels. The panel then turns to co-living and room-by-room rentals. Operators who bought into the model three to four years ago are now trying to exit. Co-living property managers typically last 6 to 12 months. PadSplit requires roughly a $30,000 retrofit, furnished rooms and ongoing maintenance responsibility — and the exit problem may be just as significant as the operational one. In This Episode We Cover: Why the Denver housing market’s April 2026 data shows prices flat for a third straight year How rents have pulled back to late 2021 levels and what landlords are doing about it Why co-living operators are looking for the exit and what the PadSplit model actually costs Governor Polis’s push to cut Colorado’s average $4,200 homeowner’s insurance premium by $800 What 22,000 YourCastle transactions revealed about the NAR commission settlement Jenny’s decision to sell and pay down debt, and Jeff’s 10th house hack in West Denver If you invest in Colorado real estate or are watching the Denver housing market in April 2026, this episode covers the data and decisions that matter right now. Subscribe for monthly market updates every month. Watch the Youtube Video https://youtu.be/kB-TT_tl78Q Timestamps 00:00 Welcome and Panel Introductions01:31 Colorado Springs Market Data — Median $480K, Sales Up 8.5% 03:10 Springs Condo Trends — Prices Starting to Recover09:04 Rental Strategies in a Soft Market — Flat Renewals and Two-Year Leases13:30 Denver Market Overview — 11,500 Active Listings15:21 Three Years of Flat Prices — Detached Up 1%, Condos Down 5%18:02 Condo Financing Challenges — FHA Hurdles and Fannie Mae Changes 28:30 Showing Data — About 5 Showings Per Property in Both Markets25:52 Co-Living Reality — Why Operators Are Trying to Exit29:08 PadSplit Breakdown — $30K Retrofit, Furnishing Costs and the Exit Problem36:20 Medium-Term Rental Demand — Two Years of Data38:20 Brighton Co-Housing — Gratitude Village and 35 Communities in Colorado41:04 Colorado Insurance Bill — $4,200 Average Premium, $800 Reduction Target46:25 NAR Commission Data — $70 Buyer-Side Difference on a $500K Purchase56:08 Jenny Sells a Property and Pays Down Debt59:40 Jeff Closes His 10th House Hack — Two Houses on One Lot in West Denver Links in Podcast Troy Howell: troy.howell@novahomeloans.com LinkedIn: Troy Howell Website: https://www.novahomeloans.com/loan-officer/troy-howell/ Brandon Scholten: brandon@keyrenterdenver.com Website: https://keyrenterdenver.com/ Jenny Bayless: jenny@envisionrea.com Jeff White: jeff@envisionrea.com Brighton project aims to pioneer fully accessible, net-zero cohousing in Colorado Polis wants home insurance premiums to drop by $800, but can he do it? Your Castle Real Estate DMAR Who is Keyrenter? Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them. Who is Nova Home Loans? For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today! NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO
Transcribe →#615: Multifamily Down 15-50%: Where Denver Investors Are Finding Deals in 2026
3w ago00:15:57Tap to summarizeThe Denver multifamily market 2026 data is in — and it’s more complicated than most headlines suggest. Average rents have dropped back to Q4 2021 levels at $1,758. Vacancies have climbed from 5.8% to 7.5% in two years. Concessions have nearly doubled year-over-year to 10.1% of gross rents. And in some parts of the metro, prices are off 50% with zero buyer activity. So what does the Denver multifamily market 2026 actually mean for Front Range investors? Chris Lopez just returned from the Passive Pockets Summit in Cherry Creek and shares exactly what the Q1 numbers mean — and what he’s doing with his own portfolio right now. In This Episode We Cover: Why Denver Metro average rent is back at Q4 2021 levels and what that signals for 2026 pricing The supply shift that matters most: new units dropped from 6,056 to 2,796 year-over-year — and absorption finally outpaced new supply in Q1 How concessions doubling from 5% to 10.1% of gross rents masks the true rent decline Where multifamily prices have fallen 15-50% across the metro — and which submarkets have no buyers at all Why Colorado legislation is pushing institutional capital out of the state and what that means for local investors Chris’s own 4-plex update from Marcus & Millichap and why he’s holding despite the headwinds The non-performing loan strategy Chris is using to get multifamily exposure on the debt side right now His honest recovery timeline: 2026-2027 still rough, 2028 as a potential turning point If you’re sitting on single-family equity and wondering whether now is the time to reposition into multifamily — or if you’re already in the commercial space trying to read where this cycle goes — this is a grounded, data-first breakdown of where the Denver multifamily market stands right now. Have questions about your portfolio? Reach Chris at chris@propertyllama.com. Watch the Youtube Video https://youtu.be/mOxV23KZKv4 Timestamps 00:00 — Denver multifamily market 2026: Back from Passive Pockets Summit — national trends meet local reality 02:03 — Why Denver multifamily (2-4 and 5+) is where Chris sees the real opportunity right now 03:02 — Q1 2026 Denver Metro data: rents back to 2021 levels, vacancy at 7.5%, concessions nearly double 06:33 — Denver multifamily price declines: down 15-50% across the metro, some areas have zero buyer activity 08:24 — Chris’s Denver 4-plex update and why small multifamily owners aren’t distressed 09:52 — Colorado multifamily recovery timeline and why legislation is pushing capital out of state 12:25 — Where Chris is putting new money: private lending and non-performing loans on Denver multifamily 13:10 — How NPL investing works and portfolio strategy options for Colorado real estate investors in 2026 Links in Podcast Marcus & Millichap Passive Pockets Property Llama
Transcribe →#614: Houses Flat, Condos Down 8% — What Denver's Q1 Data Actually Shows
4w ago00:57:16Tap to summarizeDenver condo prices are down 8% since 2022, and houses have gone essentially flat — but is the correction over or is there more to come? In this episode, Chris Lopez walks through Q1 2026 data from Your Castle Real Estate, mapping 52 years of Denver price history to show exactly where each asset class stands today. He explains why condo corrections always play out slowly, even during major market events like the 2008 crash, and why multifamily — already down 15 to 35% — represents the stronger entry point for Colorado investors right now. If you own a Denver condo and aren’t sure what to do, Chris breaks that down too. In This Episode We Cover: 52 years of Denver price data and what it reveals about today’s market How to read a log scale chart to spot when prices are overpriced vs. underpriced Why Denver condo corrections always move slowly — even during major downturns The 1031 exchange strategy active investors are using to move from single-family into multifamily Why multifamily has already corrected 15–35% and what that means for buyers What to do if you own a Denver condo right now — sell, hold, or rent it out If you want to understand Denver home prices in 2026 and make a clear investment decision backed by data, this episode gives you the framework to do it. Watch the Youtube Video https://youtu.be/h_he6fHScpc Timestamps 00:00 — Intro  00:50 — 52-Year Price Appreciation Chart  04:10 — Why Condo Corrections Always Move Slowly  05:02 — Where the Real Opportunity Is Right Now  06:43 — What to Do If You Own a Denver Condo Today  Links in Podcast Your Castle Real Estate Q1 2026 deck download link
Transcribe →#613: 8 Colorado Landlord Laws You Need to Know in 2026
Apr 2800:57:16Tap to summarize2026 Colorado landlord laws introduced more housing-related bills than any year in recent memory — and landlords nearly paid a steep price. One proposal would have let tenants halt evictions mid-process with claims as vague as “transportation issues.” Another would have required landlords to attach a full lease to every demand notice. Neither passed — but the margin was closer than most investors realize. Chris Lopez sits down with Brandon Scholten, owner of Keyrenter Denver and a deeply active voice in Colorado landlord advocacy. Brandon manages over 1,100 doors across the metro area and has held a personal rental portfolio since 2012. He’s been tracking Colorado’s housing legislation for years and came to this conversation with his most detailed briefing yet. If you own rentals in Colorado, understanding Colorado landlord laws in 2026 is no longer optional. This episode covers every bill that moved through the session — what passed, what was killed, and what’s quietly still working its way through the process. Brandon breaks down real case studies from his own managed properties, including a mold remediation on Laden Street that triggered the new habitability law’s full alternate housing requirements, and a domestic violence case where both spouses filed simultaneously. In This Episode We Cover: The eviction bill that nearly passed — and the 80 people who showed up to stop it Colorado’s new utility billing clarification: how to allocate shared utilities without sub-metering (which was running $9,000+ per building) What the warranty of habitability expansion actually requires when a tenant reports mold — 72-hour containment, alternate housing, and a daily per diem The 30-day notice rule now baked into Colorado law for federally backed properties How the domestic violence bill plays out when both parties in a lease file simultaneously The fee disclosure law in effect since January 2026 — and why Zillow compliance is still inconsistent New security deposit rules: 10-year useful life on carpet, itemized receipts required, and walkthrough rights The direction of Colorado landlord laws in 2026 is clear — and the investors who stay informed are the ones who stay protected. Watch the Youtube Video https://youtu.be/jpAKFjgDDc8 Timestamps 00:00 — Welcome & Overview01:43 — Brandon Scholten Introduction — 1,100 doors managed, investing since 201203:26 — 2026 Legislative Session — Record number of housing bills; most never signed06:26 — HB 26-1106 — Most problematic bill of the session; eviction cap with vague delay provisions; killed after massive public opposition12:05 — HB 26-1045 — Disabilities housing protections; Colorado codifying emotional support animal rules as HUD guidance shifts16:08 — HB 26-1013 — Utility billing fix signed into law; landlords can now allocate shared utilities without sub-metering20:20 — HP 26-1047 — Would have required full lease attached to every demand notice; lobbying effort killed it22:16 — HB 26-1036 — Vacant property tax; empowering local governments; died over implementation problems27:29 — SB 24-094 — Warranty of habitability expanded; 72-hour containment, alternate housing required; Laden Street mold case study34:26 — HB 25-1240 — Housing subsidy protections; 30-day notice now required statewide for federally backed properties36:35 — HB 25-1168 — Domestic violence bill; self-attestation now accepted; case study with both spouses filing simultaneously40:20 — HP 25-1090 — Mandatory fee disclosure in effect January 2026; Zillow compliance still inconsistent47:39 — HB 25-1249 — Security deposit rules; 10-year useful life on carpet; itemized receipts required51:56 — How to Get Involved — Colorado Housing Coalition; ~$25/month for small landlords Bills Referenced in This Episode HB 26-1106 — Eviction protections for tenants (did not pass) HB 26-1047 — Protections for residential tenants (did not pass) HB 26-1036 — Local taxes on vacant residential property (did not pass) SB 24-094 — Warranty of habitability HB 25-1240 — Protections for tenants with housing subsidies HB 25-1168 — Domestic violence tenant protections HP 25-1090 — Fee disclosure / deceptive pricing practices HB 25-1249 — Security deposit rules Links in Podcast Brandon Scholten: brandon@keyrenterdenver.com Website: https://keyrenterdenver.com/ The Denver Landlord’s Digest— Brandon’s monthly newsletter covering legislation updates and day-to-day landlord resources Colorado General Assembly Bill Tracker — Search all active housing bills by session Colorado Housing Coalition — Landlord advocacy organization focused on small and independent rental property owners. Membership starts at ~$25/month Keyrenter Denver — Full-service property management for the Denver metro area. Monthly management at 7.5–9% depending on portfolio size; half a month’s rent for tenant placement Webinar Replays Colorado Habitability Law UpdatesColorado Rental Law Changes Affecting Your Properties (2025)New Colorado Rental Laws: What Changed On Jan 1st, 2026 and What You Need to Do Now.Security Deposit Disputes in Colorado Who is Keyrenter? Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.
Transcribe →#612: Denver Prices Hold as Condos Fall for the 4th Straight Quarter | March 2026 Market Update
Apr 2100:30:13Tap to summarizeDenver home prices are flat and condo values are still sliding — here is your March 2026 Denver real estate market update. In Q1, homes across the metro held steady while condos dropped 6% year over year for the fourth consecutive quarter. As a result, that spread is creating two very different conversations for Colorado investors right now. Because the data tells such different stories depending on what you own, this episode breaks both of them down in detail. Chris Lopez is joined by Brandon Scholten of Keyrenter Property Management and Troy Howell of Nova Home Loans for this month’s Denver real estate update. Brandon manages properties across the Front Range and, as a result, brings a ground-level read on where rents are moving. Meanwhile, Troy closes investment loans daily and tracks rate trends in real time — including a recent 3-plex deal that closed at 5.875% with $17,500 in seller credits. Since the buyer had a free-and-clear home to leverage, the deal was effectively 100% financed using a HELOC. Beyond the price data, the March 2026 market update also covers stadium development along the Santa Fe corridor — the Broncos’ Burnham Yards, Denver Summit’s Santa Fe Yards, and Ball Arena’s 20-year mixed-use buildout. If those projects play out as planned, nearby property values could see a material impact. In addition, the episode includes a look at a distressed Aurora multi-family that sold for $12.4 million in 2019, yet currently carries a $10.5 million mortgage. Even though it was under contract at $6.4 million, the buyer still walked away after inspection. In This Episode We Cover: Q1 2026 Denver real estate price data — homes flat, condos down 6% and what each trend signals How Fannie and Freddie are loosening condo insurance requirements and whether it moves the needle The $865K Westminster fourplex from the monthly property walk, with projected $20K year two cash flow A creative 3-plex closing in Aurora — HELOC-funded, 5.875% rate, zero cash out of pocket Why the $12.4M distressed Aurora building couldn’t sell at $6.4M — and what it says about the broader Denver market Brandon’s take on whether the rental market’s worst softness is finally in the rearview And So Much More! This March 2026 Denver real estate market update gives you the data, the deals, and the ground-level perspective to make a more informed decision on your next move. So whether you’re watching the Denver condo market or looking for your next rental property, this episode has something for you. Watch the Youtube Video https://youtu.be/0qnj5nNy2lU Timestamps 00:00 — Welcome and Panel Introductions — Brandon Scholten (Keyrenter Property Management) and Troy Howell (Nova Home Loans) join Chris for the Q1 2026 Denver market update 01:09 — Q1 2026 Denver Price Data — Homes up 2% year over year and generally flat; condos down 6% four quarters running, now flattening 03:07 — Colorado Springs Price Breakdown — More volatile quarter to quarter, similar overall trend with homes flat and condos negative 03:58 — Fannie and Freddie Loosen Condo Requirements — Insurance underwriting changes and what it may mean for the condo market 04:59 — Stadium Development Recap — Burnham Yards (Broncos), Santa Fe Yards (Denver Summit), and Ball Arena’s 20-year buildout plan 09:24 — What Record Attendance at Denver Summit Signals for the Area — And why Chris sees short-term rental and co-living opportunity near these corridors 11:41 — Property Walk Recap — $865K Westminster fourplex near 72nd and Tennyson, projected $8K year one and $20K year two cash flow with 25% down 18:24 — Aurora 3-Plex Closes at 5.875% — How a roofing contractor used a HELOC on a free-and-clear home to effectively 100% finance a $582K triplex 20:47— Distressed Deal Watch — Aurora multi-family bought at $12.4M in 2019, mortgage at $10.5M, under contract at $6.4M, buyer still walked 23:22 — Rate Outlook for 2026 — 52-week range of 5.98% to 6.89%, currently at 6.3%, and what employment data suggests about where rates head next 26:14— Rental Market Trends from Keyrenter — Why Brandon believes the worst of the softness is likely behind us, and where it lingered longest Links in Podcast Troy Howell: troy.howell@novahomeloans.com LinkedIn: Troy Howell Website: https://www.novahomeloans.com/loan-officer/troy-howell/ Brandon Scholten: brandon@keyrenterdenver.com Website: https://keyrenterdenver.com/ The National Observer: Office conversions surge as workplace dynamics shift Baby boomers have an emerging rival in the housing market Mortgage Rates Aurora apartment complex at center of national controversy is for sale View the Aurora 3-plex deal underwriting Sign up for the deals list Who is Keyrenter? Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them. Who is Nova Home Loans? For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today! NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO
Transcribe →#611: Denver Rentals Are Getting Squeezed. Here's the Exit Strategy.
Apr 1400:46:10Tap to summarizeAfter 20 years of buying and holding on the Front Range, the numbers finally said it was time to move. That moment of reckoning is exactly what this episode is about — and for anyone rethinking their Denver real estate portfolio strategy in 2026, it’s one of the most honest conversations we’ve had on this show. Adam Haman sat on an underperforming Aurora duplex longer than he should have, watched the ARM reset and the rents slide, and finally made the call. What came next is where it gets interesting. Chris Lopez sits down with Adam Haman, a Denver-based real estate broker at Your Castle Real Estate and longtime Front Range investor. Adam manages his family’s portfolio alongside his brothers and sister, and has built his holdings from a single duplex purchase in his mid-20s to a mix of duplexes, townhomes, and a full 13-building fourplex development in Colorado Springs — all built to rent. This episode is a real-time case study in portfolio rebalancing. Adam recently sold a problem duplex in Aurora after an ARM reset pushed his rate from 4.5% to 6.5% while Aurora rents dropped from roughly $2,200 per side to $1,800 — and staying full got harder. He walks through how he priced it, the lowball offers he received, and why he took a number that was lower than he’d hoped. At the same time, he’s doing a DSCR cash-out refi on a Greeley duplex he loves — locking a 30-year fixed at 6.5% and pulling out roughly $200,000 to redeploy into higher-yield income opportunities. In This Episode: Why an ARM adjustment and softening rents turned a cash-flowing Aurora duplex into a break-even liability How Adam priced, listed, and ultimately sold the property — and what the buyer’s DSCR loan had to do with the final number Where Adam sees buy-side opportunities right now, including Athmar Park and why he’s watching the Burnham Yards development Why he’s making disrespectful offers on investment properties — and how to do it in a way sellers actually respond to The Greeley duplex DSCR refi breakdown: 30-year fixed, $200K out, and why the spread into Dynamo Capital makes sense How a $6,500 earnest money deposit in 2018 eventually led to ownership of an entire Colorado Springs fourplex complex Why Adam is seriously looking at new construction duplexes in Texas — with builder rate buydowns under 4% and projected $600/month cash flow Colorado legislation, rental licenses, and what rising compliance costs mean for small landlords Watch the Youtube Video https://youtu.be/oaC-2wDXNEI Timestamps 00:00 — Welcome & Guest Introduction — Investor, Broker, 20 Years on the Front Range 01:32 — Adam’s Origin Story — Started at 25, Rookie of the Year, Then Sold Zero Homes in 2007  04:42 — Fail Fast Philosophy — Why He Wishes He’d Found Mentors Earlier  07:10 — The Aurora Duplex Problem — ARM Reset from 4.5% to 6.5% Plus Rents Sliding to $1,800  10:09— Walking Through the Sale — Listed at $575K, Final Number Around $539K and Why He Took It  14:10— Buy-Side Opportunities Right Now — Why Disrespectful Offers Are Back on the Table  15:00— Athmar Park Deep Dive — 18% Rent Decline, Burnham Yards, and the Path of Progress Question  16:08 — What Makes a Rental Perform — Lawns, Fenced Yards, and Two-Car Garages as the Formula  22:35 — Rebalancing Away from 100% Real Estate — Why He’s Diversifying Into Dynamo Capital  28:58 — The Greeley Duplex DSCR Refi — $200K at 6.5% Fixed and Why He Kept This One  25:17— Considering Texas — New Construction Duplexes at a 4% Rate Buydown Near San Antonio and Dallas  28:58 — The Greeley Duplex DSCR Refi — $200K at 6.5% Fixed and Why He Kept This One  36:47— Colorado Springs Fourplex Development — How $6,500 in Earnest Money Led to 13 Buildings  41:54— Colorado Legislation and Small Landlords — Rising Compliance Costs and What’s Changed  Links in Podcast Adam Haman — Your Castle Real Estate 📞 303-550-5949 Real estate broker and Front Range investor — reach out to connect, share a deal, or discuss the market Property Llama Dynamo Capital Fund
Transcribe →#610: Denver Office, Multifamily, and Retail: Where Each Market Stands in 2026
Apr 7Tap to summarizeDenver office investing in 2026 is drawing serious contrarian attention — and the numbers explain why. Class A buildings in the Denver Tech Center are trading at 30 to 50 cents on their last sale price. Some are selling for 65 dollars a square foot while replacement cost runs 500 dollars or more. For investors who remember multifamily in 2011, the setup looks familiar. Matt Ritter co-founded Pinnacle Real Estate in 2006. Today, Pinnacle Real Estate has 50 brokers and 25 staff and is one of Colorado’s largest locally owned commercial brokerages. He also co-founded Knightbridge Capital, where he and partner Rick Yoshimoto have been actively acquiring distressed Class A office in the Denver Tech Center while most investors won’t touch the asset class. In this episode, Chris Lopez and Paul DeSalvo sit down with Matt to break down the office thesis, what’s happening in multifamily, retail, and industrial, and what 25 years in Colorado CRE has taught him about investing at the bottom. In This Episode: Why the floor may already be in for Denver office and what that means for buyers Buying at 11 to 13% cap rates with 65% LTC bank financing at 6.5% Target returns: 8-9% cash on cash quarterly and 20% net IRR The 400 Inverness deal: 92% occupied at acquisition with 6+ years of weighted average lease term How spec suites are driving leasing velocity in today’s market Retail, industrial, and multifamily: where each asset class stands right now Why suburban multifamily is outperforming central Denver What Colorado’s legislative climate is doing to institutional investor interest nationwide First Bank’s acquisition by PNC and what it means for CRE lending in Colorado Watch the Youtube Video https://youtu.be/ReoHF8ICc5w Timestamps 00:00 — Welcome & Guest Intro — Matt Ritter, Pinnacle Real Estate and Knightbridge  02:33 — How Pinnacle Grew to 50 Brokers in 20 Years  06:03 — Paul DeSalvo’s First Multifamily Deal with Matt (2011)  13:30 — 1031 Exchange Compounding: How Paul Scaled Deal by Deal  10:24— Colorado Commercial Market Breakdown: Retail, Industrial, and Cap Rate Shifts  17:36— Why Matt Started Buying Denver Office in 2021  18:32— The Thesis: One Third of Office Has Terminal Cancer  20:21— Buying Class A Buildings at 65 Dollars a Foot in the DTC  26:40 — 400 Inverness Breakdown: 92% Occupied, 11.5 Cap at Acquisition 28:45— Investor Returns: 8-9% Cash on Cash and 20% Net IRR Target  29:24 — Multifamily Market Analysis: Where Prices Are Heading  32:00— Suburban vs Central Denver: Which Submarkets Are Holding Up  37:40 — Spec Suites and Why Tenant Demand Is Stronger Than Expected  42:12 — Colorado’s Legislative Climate and What It’s Doing to Investor Interest  45:00 — Stadium Developments and Reasons to Be Hopeful About Denver  47:03 — First Bank’s Sale to PNC and What It Means for CRE Lending  52:13 — Closing Advice from 25 Years in Colorado Real Estate Links in Podcast Pinnacle Real Estate Knightbridge Matt Ritter on LinkedIn Matt’s direct line: 303-960-8033 NMHC — National Multifamily Housing Council
Transcribe →#609: How I'm Allocating Capital in 2026: Debt, Diversification and Due Diligence
Mar 3100:12:05Tap to summarizeThis solo episode is a full breakdown of Chris Lopez’s 2026 real estate investment deals. He covers every position closed in Q1 and the active pipeline he’s evaluating right now. That includes a hotel conversion buying at roughly $30,000 a door and a Denver office deal at a 12 cap with 6.5% debt in place. The shift from common equity to debt isn’t accidental. Chris walks through three Q1 investments: a Canadian debt fund, a preferred equity position in Western Ohio multifamily, and a fund acquiring non-performing loans. All three reflect a strategy focused on income and downside protection. The episode also tackles a harder question. Should you stay focused on known asset classes or follow the numbers into new territory? The 2026 real estate investment deals on his radar include a bank-owned distressed multifamily portfolio in Denver and Colorado Springs, a niche Denver industrial deal with owner carry, and a 300-unit hotel-to-multifamily conversion. He’s also tracking an indoor kids entertainment private equity fund paying mid-to-high teens cash on cash. The final segment covers debt fund due diligence. Chris explains why he now does on-site audits before writing a check. That means reviewing loan files, checking appraisals, verifying LTV compliance, and tracing bank account activity to reduce fraud risk. Chris is bringing all three topics to the Passive Pocket Summit in Denver, April 30–May 2. Grab a ticket at passivepockets.com/summit and use code LOPEZVIP to save $100. Watch the Youtube Video https://youtu.be/4AMPLsnwp8M Timestamps 00:00 — Episode intro — solo format, what prompted this episode  00:25 — Passive Pocket Summit context — three speaking topics  01:11 — Capital allocation overview — the shift to debt over equity  01:57— Q1 2026 investments — Canadian debt fund, preferred equity (Western Ohio multifamily), non-performing loans fund  03:29 — Passive Pocket Summit promo — passivepockets.com/summit, LOPEZVIP code  03:58 — Emerging asset classes — the focus vs. diversify debate  04:35 Distressed multifamily in Denver and Colorado Springs — bank-owned portfolio  05:19 — Denver office at a 12 cap — 6.5% debt, 92% occupied, Park Meadows/DTC location  06:10 — Denver industrial deal — owner carry, niche supply/demand dynamics 07:10— Hotel to multifamily conversion — 300 units at ~$30K/door, $60–70K all-in basis  07:49— Indoor kids entertainment PE deal — mid-to-high teens cash on cash 09:19 — Debt fund due diligence — why Chris does on-site audits  11:24— Wrap-up and event reminder Links in Podcast Passive Pocket Summit Use code LOPEZVIP at checkout — saves $100 on registration Event dates: April 30–May 2, Denver CO
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