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Buying & Selling Real Estate

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Kim Rose
  • Colorado Springs, CO
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Newbie Rental Investment Questions

Kim Rose
  • Colorado Springs, CO
Posted Sep 1 2015, 14:29

We are looking to purchase our first rental property, but are feeling overwhelmed about the amount of information and "analyses" people use to make their decisions. We have a few personal friends who own rentals and none of them ever really went into depth with these things and all are doing well so far...

We live in Colorado Springs where home prices and population have been increasing. There is still a growing market here, and the colleges and military bases all bring in plenty of renters. My husband and I rented here for several years here before buying our house and our rental applications were turned down often because we were competing with so many other applicants (we have pets!)

If we're buying a single family home that is not undervalued or a foreclosure in a growing area where home prices are expected to rise, shouldn't we reasonably assume that its value will go up.. as we expect to happen with our own home? (we don't live in California!)

Also, for a place that is going to be used 100% for renting, do you buy the worst house on the block that can rent cheap or a nice place that you would live in yourself, but that is considerably more expensive?

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