New in Colorado Springs

[Jeremy Norman]

Hello all. My name is Jeremy and I am just starting my journey into real estate investing in earnest. 

My wife and I did a flip house hack with our first house and nearly gave up on real estate through a bad experience with a realtor on the sale. A great realtor stepped in and fixed it, but afterward we started looking at businesses with brokers. After some time off though, I found the book on rental property investing (Brandon Turner) and it charged me (and then us) back up and we're now looking for rental properties in Pueblo, Colorado. We've recently gotten comfortable enough with that market to make a couple offers.

My non-real estate background: I'm super interested in business and spend my weekdays working as a computer programmer.

For a bit now, I've been consuming a lot of BP content. I'm excited to find others that are interested in cash flowing assets and the journey that starts now.

[Jeremy Norman]

Thanks All. Middle of the week turned out to be a bit busy, so I have not been able to get back to this thread as quickly as I'd like. 

@Daniel Haberkost I am looking in Pueblo (proper) at the moment, not Pueblo West. Not opposed to it - just not the focus. My favorite areas are near the North Hospital or the college, if I can find a deal there - which I have not yet. It looks like there are good properties, even on the MLS on the west side and near the Minnequa area. We've only got a few very small areas inside those that we're comfortable with so far. (I wish the west side was easier, because the numbers look awesome there).

The superfund is an interesting area. It's due to an old mining operation - one that went away a long, long time ago. Honestly, I think that's going to be one of those areas that really pops once they get really rolling on cleaning it up. It's not there yet and they have not even dealt with the slag pile causing the issue - so we'll see. Also, since they are concerned with wind spreading more lead dust off the pile, I don't know why they would even mitigate houses already. We made an offer in the area (off market) without realizing it, actually. 

@Alyssa Dyer I'd really like to buy a small multi family. However, we keep going down single family rabbit holes because the prices just seem so good. We've made a couple offers on single family, too - so it's not as though it's a waste. The numbers work or are close enough pretty often. 

Ironically, it looks like you're in a market I also would highly consider - in fact I'm interested in buying there after I get some close-to-home knowledge of real estate. OKC has better cash flow from what I've seen. Pueblo might wind up having better appreciation now that so much of the front range of Colorado is booming - but if that's what you're after, look farther north. It's more certain to happen reliably along I-25 between Fountain and Fort Collins.

@James Carlson I've noticed some posts by you in the past and already referred Denver friends your way. They said they were into house hacking and such. I doubt they ever called though because I suspect they were not actually serious about buying investment property in Denver.

@Ali Boone Thanks!