Colorado Springs Rental Estimates

[Kalin Wilson]

I'm evaluating a potential deal on an attached condo in the 80917 zip of Colorado Springs, CO. I'm looking for advice on good local sources for estimating rents in areas I'm not familiar with. I'm hitting the sites like rentometer, zillow, etc. but I haven't found their info to be terribly helpful in the past. We have realtor friends but haven't chosen an agent to work with yet for our investing pursuits

My wife and I are just re-entering the investing market. I'm dusting off my evaluation skills. I flipped a house in 2009 with good results and we rehabbed and rented my last primary residence in 2015. We're interested in rent and hold, and have a family member who has inherited the condo.

I'm excited to get plugged into the Bigger Pockets community. I've been aware of it for quite awhile but haven't really participated.

Thanks for any info.

[Brent Bowers]

@Kalin Wilson just like @Norberto Villanueva said. It is best to call a Realtor. It will be the most accurate information. Second get on the phone or door knock like @Bill S. mentioned. You want to really learn what an area is like, how much rents cost and receive knowledge then strap on some shoes and get to walking and talking. But, what I have done in the past when buying a rental I just call all the For Rents in a 2 mile area and look at all of them. I look at the square foot of the house and figure out how much the land lords are getting per square foot. You have to take into account how nice the rental is and it has to be the same type rental ie. single family home, apartment, cottage, basement.

I just use the price per square foot and make my rental nicer than everything in the area so I have NO problem renting the space.

Example 1,000 square foot single family home renting for $1,000 per month is $1 a square foot.