All Forum Posts by: Todd Nagel

@Andrew Curro Like @Tim Emery I have not seen auction properties. We also are experiencing record low inventory and our prices have appreciated double digits. Residential real estate is still a good investment option. You may outlying areas to the "Front Range" I have an investor clients who invest in Canon City and Pueblo. Every location is going to have pro's and con's for sure. 

Local title company sent out the notice for election and demand for the last 2 weeks; it had 1 property. 

@Andrew Curro Like @Tim Emery I have not seen auction properties. We also are experiencing record low inventory and our prices have appreciated double digits. Residential real estate is still a good investment option. You may outlying areas to the "Front Range" I have an investor clients who invest in Canon City and Pueblo. Every location is going to have pro's and con's for sure. 

Of course BP, I'm looking for more aggregated data sources for real estate, economics, demographics, migration. Same thing everyone else is looking for :) I'm only familiar with Corelogic & NAR. I like Airdna for STR but also the regulation side of that continues to cause difficulties.

@Tamar 

@Tamar Hermes Our tenant has paid and our STR has been booked. Holding steady and looking for opportunities.

When I was young, my first house was a duplex that we were able to buy with a little help from family. We fixed it up as we lived in each side and lived for free. It was a great way to limit cost and I learned a lot. 

@Josiah Harph Great job, you clearly have an eye to see an opportunity. Think about what else you bring to the table. You can manage the property, maybe you have some craftsman/trades skillsets? Perhaps an investor nearby but out of the area thinks this is a good location and you could team up. Do what you can at this stage to find a partner who has some experience. I would certainly talk with the seller to see if seller financing of some sort would work. Good Luck!

@Stone Saathoff When investing in real estate it is always good to be cautious and make sure you find properties that will work for what you are doing. One thing I have noticed is things are slowing down and that seems to include investors. This could be a time to pause or it could be a time to find some properties when fewer people are taking action. We will see. 

@Dimitri Paspalaris

There is a saying in real estate that "time kills deals". When you have a motivated buyer and a motivated seller it keeps things moving forward. Whoever owns the property is paying for the property so maybe they have 2 payments of most of the time they just want to be done with it. From your perspective as the buyer perhaps the seller wold be willing to pay you something through a seller concession to close early. Usually that doesnt happen but you could have your agent inquire. Sometimes there can be benefits for you to close early. Perhaps insurance rate are going up and you can get lower rate secured. Often buyers rate lock on the loan could expire and then you would have to pay to extend. I'd talk with your Realtor and see if they know anything. I not sure what the market is like there. Here it is still pretty solid not too much fear that prices are going to go down. But who knows, anyone that tells you they know whats happening is likely trying to sell you something. 

@Wade Megan Just saw the post. Thought I'd add a little. Why would you buy sight unseen vs. come out to the area and do some due diligence? I would recommend time in the market. That is not to say that it cant be done. Lots of opportunities do exist. It is growing harder to find good cash flow properties in Colorado Springs. I would encourage trying to find a duplex that needs some work, to get you started or a single family that would rent easily down the road. The future in a bit uncertain with the pandemic, 8 month timeframe seems like anything can happen. With the budget you suggested have you looked at Pueblo at all? 

Best books recently have been "What every Real Estate INvestor needs to know about cash flow" "Be in the top 1%"