We have the pleasure to share with you, perspective from  real estate guru, Dennis McLin of McLin Commercial. We asked him some questions regarding his background, his thoughts on the current real estate market, and what he predicts for the future.

• What’s your background? “I worked for Continuum Partners for about 4 years, left CP to Marcus and Millichap (brokerage company), then launched my own commercial real estate development company, at which I started buying properties in Lower Highlands and Sunnyside (North of Highlands).”

 

• How long have you worked in the Denver real estate market? “Since 2003.”

 

• How has the Denver real estate market changed since you first started? “Denver real estate market is on fire right now; a lot of people are moving here from different states at a rapid pace. We all see the rise in real estate prices—this is why I am aiming to provide reasonable-priced homes in Lo-Hi in the next 8 years.”

 

• Do you buy and sell right away, or buy a property and sit on it for awhile? “Both. Every situation and build is different and the time frame is always different. Sometimes, I sit on properties; some sell right away. I have sat on a property for 3+ years. I have a sense of knowing when to sell and when to wait.”

 

• Is it just you, or do you have a business partner? “I have a business partner.”

 

• What challenges are you currently facing in the industry? “It’s challenging to get sellers to sell at realistic prices; everyone thinks that their property is worth more than it is. It is extremely hard to make numbers work when you can’t buy outright or quickly, plus the market is in really short supply on trades. Also, it’s hard to get tradesmen out to your projects to get them done on time.”

 

• Do you have any tips for renters/home buyers? “Live where you work, if you can—it makes it easier. Live by mass transit, if you can—it makes it easier. Denver is going to go through a dynamic change in the next 5-7 years and people will gravitate to different modes of transportation: scooters, bikes, and you will see people move towards transit nodes where they don’t need a car. Many people are going to utilize Uber and Lyft a lot more.”

 

• What transaction did you close most-recently? “We brokered Rail House in Sunnyside last night. These are 29 row homes; 3995 Inca St, 80211.”

 

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• What is your next, upcoming project? “We are looking to build 90-100 Units on the corner of Inca & 29th: 3855 Inca St, 80211.”