Summit County, CO investors

[Laura Sima]

Hi all- my husband and I live in St Paul, MN and are looking to purchase an investment property in Summit County, CO (Frisco, Breck, Silverthorne, Dillon, Blue River) ideally next spring/summer 2020. We'd really like a fixer upper home, townhome or multifamily (duplex/triplex), but we're thinking $450k is our limit for the property, excluding renovations. We've met with a REA and have been following MLS listings and stalking Realtor.com! From the listings it looks like we've got a near-impossible goal! I'm wondering if anyone here is familiar with that market and might be able to offer some advice on the best investor-friendly REAs, ideas for making our goals happen in our price range, any neighborhoods I should be looking into or avoid for the best ROI, great contractors, home improvement stores (other than the Lowe's in town!) etc.

Thank you! 

[John Woodrich]

The first thing I would do is find out if you have a near impossible goal by talking to local RE agents in the area about your criteria and your price range.  Quick search shows condos from $200k to multi-million dollar homes....  Your purchase price criteria under $450k doesn't help agents much, you have to be clear on your reno cost also.  $450k could be a tear down in certain areas...

You have one strike against you in being a distant investor, it has been hard to fine flip properties in any market on the MLS so you may want to fine tune the areas you are interested and try off market methods of finding property.