Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

Account Closed
2
Votes |
3
Posts

Colorado Springs Investing with $90k

Account Closed
Posted

Hello BiggerPockets forums,

I have been reading these forums for a while now and decided to finally make a post. I will be inheriting about $90,000 in the next month and have been very undecided on how to use it for investments. I live in Colorado Springs so the market is very hot, but SFH prices are quite high, and multi-family is seemingly out of budget.

My original plan was to buy and flip, but I am having second thoughts with the amount of time I am away for work, and with it a long, drawn-out struggle to actually get a great deal that doesn't sell right away. 

I am also interested to try investing in a townhouse or a condo, yet most HOAs run pretty high. Townhouses and Condos rent for 1%, yet how much cash flow can realistically be expected with an HOA, loan payments, etc.

I was reading about the BRRR method as well, specifically buying a house here for around 225k and renovating to a predicted value of 285-295k and refinancing also seems like a smart move.

I was hoping to get some advice from some more experienced investors than myself in order to quickly get in the real estate market here and start my portfolio.

Thank you in advance!

-Dave

Loading replies...