Looking for advice on refinancing and investing in Colorado

[Umar S WIse]

My wife and I purchased our home in Northglenn Colorado roughly 3 years ago, due to some force appreciation and they vary fortuitous market in Colorado we’ve made a fair bit of equity and are looking for some ways to invest it. We were looking to find out if it would be better to refinance or we’ve been looking at the option of selling before five years and as far as we understand keeping 100% of the profits without having to pay taxes. We’ve been looking at some single-family residences in the Colorado Springs area to invest in however through the refinance or selling of the house we would have more money to purchase something bigger, possibly a duplex or a triplex. Another question we had was whether or not the Colorado Springs area was still a good market to invest in or if anyone had any insight to some other places such as Aurora or Fort Collins. Any help on any of these questions would be greatly appreciated and at this point I have read 15 books and listen to over 100 hours of podcasts. I’ve been doing a lot of reading around these forums and believe the next best thing for me to do is start reaching out on here. Again thanks any of you for any of your help.

[Robin Searle]

Colorado Springs is still a very hot sellers market. There are deals to be found but in the lower price points, you'll have a tough time as there is a lot of competition from buyers.  I'm still seeing multiple offers and homes going for above list price. Multi-family has been very tough to find anything that will cash flow with 20% down. I'm sure there are off market properties but I also know there are a lot of investors angling for those as well. I get about 10 postcards a week offering to buy my personal home or my rental properties for cash.  Um - no thanks!  LOL