Real Estate Agent · Wellington, CO · Member since 2017 · 58 posts · 17 votes
Is it best to continue RE Agent/investing career in lower purchase price areas or continue where I am, near Denver, CO, where the same home I could buy in the Carolina's for $283,000 would go for a minimum $445,000 here......?
Here's another part of the equation....
The ideal/dream home I want is a 5/3, min one acre of land, oceanfront or lakefront. In Colorado that would run me at least 1.5M if not more. in the Carolinas that would be closer to $800k - so roughly half of what id pay out west.
If that is my ideal type of home, would that make it an even better idea to transition to the Carolina's.....?
Property Manager · Katy, TX · Member since 2015 · 1k+ posts · 1k+ votes
4y
Hey Marc,
What area do you have a competitive advantage? It's not all about the housing prices in your market. There are things like your expertise and your team that you can't replicate in other cities.
Find your competitive advantage and utilize that to reach your goals.
Lender · Denver, CO · Member since 2021 · 243 posts · 253 votes
4y
Hey @Marc Roberson! Your dream home sounds a lot like mine :) How long have you been investing? Do you own any properties yet? Echoing what @Cameron Tope said, being able to invest in your own market is really helpful -- you can meet and build your own team and you are already pretty familiar with the area. The best way to find cash flow in the Denver market is to find a property that you can implement a short-term rental strategy with. Bigger up front cost but the cash flow will pay back your investment fairly quickly.
Would be happy to chat through any questions you might have about strategies and the Denver market! DM me if you want to connect!