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General Real Estate Investing
Account Closed
  • Colorado Spgs, CO
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Beginning your investing in a lower income city and moving?

Account Closed
  • Colorado Spgs, CO
Posted Sep 7 2017, 16:47

Prices in my city (Colorado Springs, CO) are extremely high. Here is what the average rent looks like according to apartmentguide.com:

  • 1 bedroom: $1233
  • 2 bedrooms: $1441
  • 3 bedrooms: $1847

That being said I can't find even a duplex for under $300,000. I plugged one of these (https://goo.gl/aMtM7K) into the rental analysis calculator here and it would require a $73,000 down payment. Something will be pretty unobtainable for me starting out. So that being said, my question is this.

There is a city south of me called Pueblo, CO, according to the same site rent looks like this:

  • 1 bedroom: $650
  • 2 bedrooms: $765
  • 3 bedrooms: $963

Would it be worth it to start off living there and invest in Pueblo with the eventual goal of selling my Pueblo properties and buying a few in Colorado Springs? Would it be wise to stay down there? Or not even start there at all and just focus on Colorado Springs? Am I looking at this in the wrong way?

Thanks!

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