Colorado Springs Buy and Hold Advice

[Rob Camp]

Hi All,

I’m looking to start investing in buy and hold rentals in Colorado Springs. Anyone have any advice for neighborhoods to look at or advice in general for this market?

Thanks!

Rob

[James Carlson]

@Rob Camp

Congratulations on taking a step into real estate investing. We do short-term rentals/Airbnb down there because the Colorado Springs laws allow for it, which is unique along the front range. The west side is great for that. 80904 and 80906. Old Colorado City is good for that. Between Garden of the Gods and the Air Force Academy does well, too. We actually just bought a two-unit east of downtown with some past clients and that property is doing well on Airbnb/VRBO.

The short-term rental market is one thing. Long-term is probably a little different. Southeast Colorado Springs can find some more affordable housing, and you're likely to have a base of potential renters from Fort Carson. If you like to go by good school district, District 20 is great, District 11 is as well.  

Advice for that specific market? Get your ducks in a row and be ready to move. The days on market for most a lot of properties is less than a week, so get pre-approved, establish your goals and what you're looking for and then jump in!