Updated over 5 years ago on . Most recent reply
Newbie heading to Colorado
Hi everyone,
Newbie here planning on moving to Colorado within the year, most likely to the Colorado Springs or Denver areas. I'm currently taking online real estate licensing courses because if I'm going to dive into real estate investing, I might as well go as hard as possible, right?
Right now, I'm just looking for hellos, and your general thoughts (good or bad) about the Colorado Springs real estate market. My intention is to invest in properties in my home state where I can still get beautifully-maintained properties for under $100k, and manage them from a distance (yes, I'm planning on purchasing David Greene's book). I'm not sure if Colorado is the best place to get started investing with low to no startup costs, but tell me I'm wrong!
I'm currently in marketing and I do photography on the side; obviously, I'm excited to bring those skillsets into a real estate career.
So say hello and let me know...well, anything!
Most Popular Reply
Welcome to Colorado! Im from Ohio, born and raised, so I know what you're going through....the real estate market here is night and day different than Ohio/PA.
While BRRRR is nice where we came from, it doesn't work quite as well out here. Appreciation is fantastic, but like most people said on this thread, you have to be creative to find a good deal. Even then, it may be hard to BRRRR.
Also, cash is king! Lots of people moving from Texas and California with lots of cash and buying up houses here because its cheaper. If you find a investment home here that youre interested in, find ways to sweeten the deal for the seller, because you may be competing with multiple cash buyers.
I dont mean to sound negative, this market in CO was barely hit by COVID and is still going strong. Its just a completely different real estate environment than the east coast. Reach out if you have an questions, and good luck!