New in Colorado Springs

[Drew Smith]

Hi, I'm looking for my first investment property in Colorado Springs. Hoping to find a multi family place I can generate some cash flow out of. Any suggestions of areas to look?

[Brad Starling]

Hi, @Drew Smith , and welcome! Cash flowing properties in the Springs are tight these days. Not to say they're not out there, just not as easy to find as they were 4-5 years ago. But, I am closing on a SFR next week will that will cashflow about $200/month.

Multi-families right now are especially tougher, if your looking at the 50% rule for first blush. My opinion, but for Colorado Springs you can find a deal in any area of town, it's more about what clientele do you want. Military? Briargate and Powers corridor. Low Income? Central and southeast. College? UCCS, Garden of the Gods, Chestnut corridor. All in all, you're going to find your heaviest concentrations of multi-families on the South Academy corridor, and these will have the highest probability of profitability, but will also be your lower income clientele.

Happy hunting, and let me know if I can help!