All Forum Posts by: Tim Schroeder

Hi Tim, I think where you live and your situation, colorado springs wouls be great. There are some nice duplexes avaliable for under 250 or so and you could even use that as a hybrid str on one side and ltr on the other (depending on zoning) there was also a nice duplex in dacono. It all depends on how much you want to spend.

In the colorado market the margins are sometimes tight and thatbis one reason people buy out of state. I havr heard good things about cleveland. They boast double digit returns with high rents and low purchase price (duplexes around 150k.)

I have been considering COS for a while (in fact we nearly moved there but chose Castle Rock instead) so I knew it was cheaper than other areas but I had not looked in detail at the rental market. I spent some time last night looking at properties and the Zillow numbers for the area. Price gains last year and forecasts for next year are both well above other Colo areas. In particular, the southeast of COS (known as the "bad" area of COS) boasts a 14% gain last year and a projected 6% gain next year (IF you believe Zillow, anyway), AND southeast property prices are well below Denver, Castle Rock, and the desirable NoCo towns. Looks like a good LTR to me, and as others have said it's an easy drive from CR.

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I'm looking to purchase my first income property to rent out and build an income stream, undecided on LTR vs STR (AirBnB). I plan to buy one this year, and hopefully another 1-2 next year and go from there. I have owned properties before, but never as an investment. I have been doing my homework and am pretty well-informed for a newbie and am ready to take the plunge. BRRRR, here I come!

My problem is, I'm uncomfortable buying OOS especially my first time, but prices in the Denver (and whole Front Range, really) are just too high to be attractive. I don't want to flip, so I'm not looking for a cheap fixer-upper. I'm very handy and could renovate myself, but I have a full-time job and a family so there's no time to do my own work. So basically I need something that doesn't need a ton of work (contractors are hard to come by, I hear, thanks to the building boom). What I do have going for me is down payment and renovation cash -- enough for several properties.

So I am struggling to find a niche. I feel like I need something close to home to get my feet wet and learn the ropes, but from what I read it's hard to be profitable buying in the Colo market. Denver/Boulder/Longmont/FtCollins all look too expensive.

What's my best option here? Colorado Springs? Greeley? Pueblo even? (hey, I know it has problems but does that rule it out?)

Many thanks, Tim

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All Forum Posts by: Tim Schroeder

Tim Schroeder has started 15 posts and replied 312 times.

Post: Where to invest in Colorado's high-priced market?

Post: Where to invest in Colorado's high-priced market?