Colorado Springs Turnkeys

[Mike Quinn]

Hi everyone,

I'm an expat and looking to invest in turnkeys. I'm interested in the Colorado Springs market. Does anyone know of any turnkey companies in Colorado Springs? Does anyone have any experience in the Colorado Springs market who could give me any pointers? Has anyone invested in turnkeys in this market before?

[Norberto Villanueva]

@Colin Smith's right, one can purchase a condo for less than $100k. In fact, there's a 1/1 one on the market right now at $48,500 and it will produce about $750 in monthly rent! Forget 1% rent ratio, we're at 1.5% here, baby! But, wait. The HOA fee is $246...a month, resulting in negative cash flow on a 30 year note in year one, two, three...heck, the foreseeable future (+$4 a month in year 17) for a -7% Return on Equity (ROE).

With some exceptions, HOA fees, especially in the lower price points, are so BRUTAL, it's been my experience they're hardly worth analyzing for an investor seeking cash flow. However, with a principal and interest payment of around $225, $475 with HOA fees, a little down payment and closing cost assistance, it'd be great for an owner occupant, first time home buyer...?