I am interested in checking out the Colo Springs area for buy and hold rentals. I used to live in the area and think it might have potential. Can any of you lend some advice or have had personal experience there?
Torey, contact me immediately. You are 100% correct.
Colorado Springs is consistently strong for rentals (both SFR and Multi). Vacancy rates are extremely low, and rents are strong, but you have to be patient to find deals that have strong cash flow. What info are you looking for specifically?
The springs is definitely a strong market. Good hunting
@Aaron Moore & @Bryan Rodriguez, I am interested in typical 3/2, SFRs in good quality neighborhoods, at least 10% under market value. If you deal in turnkey properties, I would be interested in looking at what you have.
@Torey Chumbley to "mention" someone, type the @ symbol and the first three letters of their name. Below the reply box will appear a list of names matching the first three letters. Pick the one you want and it will appear highlighted in blue if you do it right. BTW, it took a while to figure it out.
Welcome and happy investing.
Welcome to the vibrant BP community. Ok, now that you have taken your initial step, below are some quick links to get engaged.
Below, are some links related to rentas that you might want to review and digest while waiting for local networking connections about the Colorado Springs area.
https://www.biggerpockets.com/renewsblog/2015/03/27/financing-options-rental-property-guide/ (financing options for rentals)
https://www.biggerpockets.com/renewsblog/2014/03/06/bp-podcast-060-serge-shukhat/ (0-68 rentals in 4 years)
https://www.biggerpockets.com/renewsblog/2014/08/02/passive-real-estate-investing/ (slowly building wealth through passive investing)
http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)
http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)
- How to Use @Mentions on BiggerPockets
https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)
REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.
REI books suggested by BPers
https://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)
Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.
Feast on the Podcasts, #askbp Podcasts, blogs and webinars
Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.
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