All Forum Posts by: Mike D.

"Generally trending upwards" is an understatement. +30% in the past two years is common. Because of that it is VERY difficult if not impossible to cash flow on a SFH with conventional 80/20 financing. If you're willing to put more cash in then you may cash flow $100-$200 monthly. I presume anyone cash-flowing $700-$900 per month bought in more than five years ago or put down a hefty % for down payment. Also be cautious that nearly a thousand apartments and condos are coming online within this and next year. Expect rents to flatten or drop. Good luck!

@Jeremy Clarke , @Connor Maloney

Not to argue with your assessment of "rental rates are AMAZING in Fort Collins"... but... rental rates are only amazing if you bought into this market three or more years ago before the hyper inflation prices occurred. I'd challenge you to find a cash flowing SFR anywhere in Fort Collins with conventional purchase methods. This includes any method of calculating ROI. Same goes for Condos and Townhouses. If you spend any time traveling around Fort Collins you'll see all of the development of this product. There's soon to be a substantial increase in available condo, apartment and town house availability. If you study this market close enough you'll see a lot of similarities to "bubble" markets. I caution anyone who is looking to launch into Fort Collins to look at past trends in Fort Collins. 30% appreciation in two years and 50% in 4-5 should be enough to make anyone take pause. The rental market, aka vacancy rates should remain good in Fort Collins, but from an investment standpoint, ROI and cash-on-cash is not looking real good.

No. No better results in and around Fort Collins. Even though more SLR are coming on the market these past couple of weeks, we're still seeing unreasonable asking/sell prices. I too have been targeting the $280k-$380k range and there are NO deals to be found. The problem as I see it is we (investors) are competing against home owners who desperately want/need a home. It's a feeding frenzy in Fort Collins. This has even bled over into surrounding communities like Loveland, Windsor and Wellington. I get MLS updates several times a day and I study each property as it comes on-line. I'm seeing an average of $110k-$120k increase in price within past 5-7 years in the $180k to $250k range. Many of the current MLS $350k homes I'm studying were last sold 5-7 years ago for $230'ish. Many homes last sold 2-3 years ago have increase $80k-100k. Is this reasonable? I'm not confident it is.

Rental occupancy is slowing as well and rent averages have flattened or gone down. Expect $1400 a month (after HOA) on a $375k condo or $1600-$1700 a month on a $375k SLR. I expect rental rates to continue to dive as the hundreds (up to a thousand) condo and townhomes come available, which are currently under construction in Fort Collins.

Regarding CO. Springs. I haven't studied the market but I have spoke with a person who lives and is investing in Co. Springs and he said it's super hot right now with very few homes on the market that would qualify as "deals". 

I'm out of the Wyoming market for the time being.  I'll continue to follow this thread and join up when the time is right.

VERY insightful and helpful information @Bill S.  Thank you.

I'm an hour away but would be willing to meet over a beer. 

Keep us posted what you come up with.

Hello, BP cohorts! 

I posted a similar request on the Wyoming board but haven't received a response in several weeks so I thought I'd pop in here for advice.

I live in northern Colorado but have been looking in Cheyenne, WY for my next SFR or Townhouse purchase as investment/rental. From what research I've done the Cap Rate and cash flow seem much better than Colorado...however, what I have yet to be able to find is solid information on what condition the market of Cheyenne is in. I understand basic stats; average rent, homes on market, etc, but I'm looking for real on-the-ground thoughts on how solid Cheyenne is for investing in property. Rental vacancy rates, appreciation, is the city too dependent on energy with too much risk of vacancy if markets crash. Etc.

Is there anyone out in BP land who can offer any thoughts, experience or opinions on Cheyenne, WY?

Greatly appreciated.

~Mike

Hello from Northern Colorado!

I'm a relatively new investor, currently holding one SFR in Fort Collins.

Because northern Colorado is in the midst of chaos and frenzy (boom/bubble) we have been looking north for our next deal. This brings me to my inquiry. I've done just about all the research I could do on the Cheyenne and Laramie markets and have found a lot of mixed positive and negative forecast for property values. What I have yet to find is ANY details on the rental market in Cheyenne. 

Currently interested in new/newer Condos in the $220-$240k range or SFR in the $175 range. Hoping for dependable minimal cash flow and solid appreciation (if it exists).

What I'm looking for specifically.

1. As of 12/2016 how inflated or fair-priced are SFR and Condo prices?

2. How does the rental market in Cheyenne look? Supply, demand, cost per-sq foot.?

3. Vacancy Rates? (Zillow and other web sources aren't clear)

4. Volatility of Cheyenne's economy and rental market? NoCo is strong, but expensive w/few deals.

5. OPINIONS! What is your take on getting in on the Cheyenne market now and early 2017?

Any comments and suggestions are VERY welcomed!