New Investor looking for multifamily in Colorado Springs

7 Replies

Hello, I'm currently stationed in the UK but will be moving back to the States next year.  Most likely, I'll be moving to the Colorado Springs area  I'm looking to do some homework on purchasing a mutlifamily complex, such as du/tri/quad-plexes.  I am looking to do the "house hacking" thing, so preferably the more units the better, but, at this point, I'm not too picky.  Not yet anyway.  Where are good places to look.  I've been looking on the big common sites like Century 21 and Zillow, but I'm only finding individual units in Townhouses and such.  Any advise would be appreciated.  Cheers!

@Benjamin Thompson I’ve lived in the Springs for the past 24 years and love it! I’ve been a licensed agent for the past 8 years. Our market has seen a lot of appreciation but I’m seeing a current cooling with longer days on market and an increase in price reductions. If I can help in any way just PM me. What part of the UK are you in? My husband is from Bristol and was in the Londen Met Police years ago!

Zillow is great - but check out the MLS - lots of realty sites let you browse the MLS at no charge and no realtor. "Loopnet" is another one worth exploring.

@Benjamin Thompson I'm closing on a house today in Old Colorado City, and will be moving there next month. Very excited. I originally wanted to buy a duplex also, but could not find anything that nice. Most of the duplexes, Tri's and Quads are on the east side, and not in the best neighborhoods. Which is why I got a house on the west side. I would not go further east past Union Blvd. It's just not that great. Crime rates become much higher. I thought about Pueblo also, but again, nothing to good down there either, that didn't need massive rehabing. I spent months looking for places, and have a good realtor @Les Goss , who really went out of his way to find my place. I do not know what your loan will be, mine was $230K, so a smallish number, but I got a great house, in a great neighborhood for $217k. Research your neighborhoods. Trulia has great crime, school, on their site.