APO, AP · Member since 2016 · 168 posts · 54 votes
I'm going to be investing out of state and the only area that I do know is too expensive for me to really make any money there right now. Does anyone have ideas on how to pick a state to invest? I'm thinking of moving to Colorado in a few years, but I'm open to anyone's suggestions. Thanks!
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
9y
@Dylan Tettemer what do you mean better? I would say this, interest rates will likely be higher. How much is anyone's guess. I think it's safe to say unless the financial world or the front range economy gets turned upside down, it will cost you more (relative to percentage of income) for your housing in 2019 than it does now. There is currently very high demand and low supply for housing. There is nothing on the near term horizon that would say that's going to change anytime soon. At some point there will likely be an over supply of luxury apartments but for now we are still not out of balance with supply and demand.
I just attended a presentation for real estate investing outlook yesterday. Right now we still have no end in sight. The last rent run-up lasted 10 years at 10% rent increase per year. We are about 6 years into the current run-up.
@Adam Rothweiler I live in Stapleton, was lucky enough to purchase in 2010, but prices have gone WAY up since that time. If you are looking to purchase a property for a rental, I think you'd probably be better off elsewhere as I don't think too many people are renting SFH in that part of Denver. OTOH, I know of people who have purchased new builds, lived in them for less than 6 months and are already listing well above what they paid. This is all appreciation based but something to consider.
Seems that property value has gone up everywhere in and around Denver!! I've noticed that Stapleton has been largely developed over the last x-amount of years. I've also looked into Greeley and Evans just a little bit but through Conversation it sounds like Greeley is going to be much more urbanized in the next 5-10 years, calling it the "new FoCo." Not much to go on but I'm going to be doing some researching. Ever hear any talks like that?
> I've also looked into Greeley and Evans just a little bit but through Conversation it sounds like Greeley is going to be much more urbanized in the next 5-10 years, calling it the "new FoCo." Not much to go on but I'm going to be doing some researching. Ever hear any talks like that?
I work and invest in Northern Colorado. Greeley/Evans have very different economic conditions driving it than Fort Collins (and even Loveland).
It is true that all of Northern Colorado (like Denver) are going up in value very quickly.
And that the price to rent ratio in Greeley tend to be better than properties in Fort Collins, you rarely ever hear people say, "I ultimately want to move to Greeley." You hear it regularly with Fort Collins and less frequently, but still often for Loveland and Windsor.
With that being said, there is lots of opportunity in Northern Colorado in general and Greeley/Evans in specific.
> I've also looked into Greeley and Evans just a little bit but through Conversation it sounds like Greeley is going to be much more urbanized in the next 5-10 years, calling it the "new FoCo." Not much to go on but I'm going to be doing some researching. Ever hear any talks like that?
I work and invest in Northern Colorado. Greeley/Evans have very different economic conditions driving it than Fort Collins (and even Loveland).
It is true that all of Northern Colorado (like Denver) are going up in value very quickly.
And that the price to rent ratio in Greeley tend to be better than properties in Fort Collins, you rarely ever hear people say, "I ultimately want to move to Greeley." You hear it regularly with Fort Collins and less frequently, but still often for Loveland and Windsor.
With that being said, there is lots of opportunity in Northern Colorado in general and Greeley/Evans in specific.
Hope that helps.
Wow, incredibly helpful! I'll for sure be looking into their zoning and city planning or other happenings, hoping to gain some insight on their future. Thank you so much for sharing!
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
9y
@Matt M. so no there was no discussion regarding political impact. Generally speaking it was a technical analysis so basically, this is what the numbers say. These are the trends and as the sayings go in the stock market, the trend is your friend until it ends.
@Adam Rothweiler you should reach out to @Mark Ferguson who is based in Greeley. He has a blog, web site and podcast and knows the Greeley market inside out.
Subscribe to @Bill S. and read all of his posts, by 2019 you'll be light years ahead of the rest:)
@Ian Walsh that is generally a good principle, but not the rule of thumb. I have to lake front properties 900 miles away that require very little of my time...mostly due to the fact that I have amazing tenants. It not unusual for me to forget that I have them until I get a notification on my phone once a month that proudly proclaims "You Got Money":)
It certainly can work out and I am glad it has been for you. It it is just bringing on avoidable risk and I am always trying to minimize risk. It is just my risk tolerance level.