It's been over 2 years ago when I first posted this and wanted to provide a brief update.
My CO property has seen a good amount of appreciation. In fact, it's finally valued above what I originally paid for it back in late 2005! I've heard similar accounts from other military friends that own property in Colorado Springs, they're seeing the positive effects of the strong market. In fact, one buddy is considering selling and taking advantage of the appreciation.
Unfortunately, my home near Ft. Bragg, NC isn't fairing so well. I bought it near retail price in 2006 and it's steadily decreased in price since. The small neighborhood has seen a decent amount of foreclosures also. The house rents well, but I know I could do so much more if I didn't have this goose around my neck.
I am stationed back in the Fayetteville, NC market and am building a REI team to fix & flip houses. A co-worker, his real estate agent, and I are actively bidding on REOs here. Unfortunately, we've seen multiple bid scenarios with each property so far--and haven't gotten that first deal. It's frustrating, but it is making me work towards building a real deal flow/funnel.
Anyone else here in the Fayetteville, NC market having similar challenges to finding deals? Any suggestions to build a lead funnel?
Thanks and happy investing!
-Andrew