“Stuff you should know” investing in Colorado

[Katrina Morato]

Hello! Any specific things I should know about out of state investing in Colorado? I live in Virginia and would love to try my first out of state investment. Either short term rental or long term rental. What are the things I should know about the area? Thank you!!

[David Mackin]

Hi @Katrina Morato

Investing in Colorado-like anywhere-depends on what you're looking for.

Short term renting is a great option here especially if you can find a property in a mountain town for skiing. Those can certainly be hard to come by nowadays. You can even find great deals in the metro area close to I-70 (the main highway route to ski resorts). These properties are great for those looking for skiing, hiking, and mountain biking, while also being close to Denver to see the city. Best of both worlds!

In the greater Denver Metro area, prices have risen significantly. It can be pretty difficult to find seriously cash-flowing properties if you plan on using financing. Not saying it's impossible. If you find the right deal, it can certainly work in your favor. The great thing about the Denver Metro area is that it combats drops in the market. When the rest of the country sees home prices fall, Denver doesn't get hit as hard or even remains stagnant. It's certainly a great market for appreciation gains.

There are some interesting plays developing the further out from Denver you get. Look North-East, or even South and you can find some growth opportunities. This is something that a good real estate agent can help you with for sure.

Feel free to reach out if you want a few connections with folks here in Colorado to help you start your journey. I'm sure there are many in this forum that will jump in conversation to help!

I was born here in Colorado so you'll have to excuse my bias, but Colorado is the BEST!