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Updated over 2 years ago on . Most recent reply

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Christine Lindsay
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Denver, CO and/or Gulfport, Mississippi & surrounding areas?

Christine Lindsay
Posted

Hi, I'm VERY new to the BP site and forums in general & am also in the novice stage of my real estate investing journey and want to get out of my current state of analysis paralysis :). We're located outside Denver, so happy to discuss CO as a whole, but for many reasons I have been interested in other markets as well.  I'm reaching out to see if anyone has any thoughts on the current market in the Gulfport, MS area? Initial analysis of the area is positive. I like the prices vs. rental rates which seem to offer good cash flow, schools have good ratings and so on. Appreciate any insights.

  • Christine Lindsay
  • Most Popular Reply

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    James Carlson
    #5 Short-Term & Vacation Rental Discussions Contributor
    • Real Estate Agent
    • Denver | Colorado Springs | Mountains
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    James Carlson
    #5 Short-Term & Vacation Rental Discussions Contributor
    • Real Estate Agent
    • Denver | Colorado Springs | Mountains
    Replied

    @Christine Lindsay

    Take what I say with a grain of salt since we work in the Denver market and think it's pretty dang great. But I think first-time investors should start in their own backyard. You know the market and the nuances of neighborhoods way better than anything out of state. You can also better learn to manage if you're close. Once you learn the ropes, sure, go out of state, but I think that first one should be nearby.

    If the Denver prices are turning you off, there are some other nearby markets that might be interesting. I think Northglenn, 20 minutes north of Denver, has nice neighborhoods with somewhat reasonably priced homes. (They also allow for short-term rentals, so you might explore STRs and Airbnb as a way to increase your revenues.) Colorado Springs is a great market as well. Good economy, growing population, tons of new development going on in the northwest side of town and in the southside of downtown where there's opportunity at a lower price than Denver.

    Whatever you decide, I wish you the best. Cheers!

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    James Carlson Real Estate

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