New to RE in Colorado Springs

14 Replies

Hey everyone! After listening to BP and other finance/real estate podcasts, I finally decided to get myself in gear and get active on here. I am currently looking to buy my first house in Colorado Springs, CO where I am currently stationed in the military. I have been reading about the VA loan, and studying the local area to see the different types of properties. My goal is to buy a house (3 bedroom, 2 bath minimum), house hack by having a few roommates, and then when I get orders to move, keep the house and rent it out and hopefully make money off of it. Going onto realtor.com, zillow.com, etc and looking at houses is easy, but I am working on becoming familiar with the tools that BP has on here to see if a specific property is actually worth it, and using the calculators to understand what is actually affordable / doable. Thanks for reading!

- Justin 

Hey Justin. Welcome aboard to BiggerPockets!

Great to have another REI investor from CO! You're right, BiggerPockets is a great site for your REI journey, more start up information are available for you. To get you started, I am sharing here some basic recommendations which help me too:

        1. Subscribe to the BiggerPockets Money and Rookie Podcasts

       2. Attend the FREE WEBINARS

       3. Attend a Meetup in Your Area

       4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

       5. Peruse the forums! Ask questions! Answer Questions!

Please keep safe and hope to meet you after the lockdown!  See you around the forums!

Best regards,

While I know not everyone agrees, I personally believe this is still a great time to be buying, especially in Colorado Springs!

Hey Everyone,


Thanks for all of the replies. @Craig Curelop so far I am following your track! I just need to attend some meet-ups, but I have already been watching the free Webinars by Brandon and reading some of the books mentioned on here. I am currently going thru the audiobook of Rich Dad Poor Dad. 

@Marcello Di Gerlando Thanks for reaching out. I am hoping to be in your shoes one day and have the years of experience in the Springs. 

@Colin Smith I got your PM! Thank you very much.

For people in CO, is there a specific forum or thread where RE in the CO area is discussed? I have tried searching on BP for geographic pages, but haven't seen anything. 

@Justin Wenzel

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/pro

If you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/blog/

The site has quite a few tools that can be helpful for new members. I like the search features: https://www.biggerpockets.com/search

Originally posted by @Justin Wenzel :

Hey everyone! After listening to BP and other finance/real estate podcasts, I finally decided to get myself in gear and get active on here. I am currently looking to buy my first house in Colorado Springs, CO where I am currently stationed in the military. I have been reading about the VA loan, and studying the local area to see the different types of properties. My goal is to buy a house (3 bedroom, 2 bath minimum), house hack by having a few roommates, and then when I get orders to move, keep the house and rent it out and hopefully make money off of it. Going onto realtor.com, zillow.com, etc and looking at houses is easy, but I am working on becoming familiar with the tools that BP has on here to see if a specific property is actually worth it, and using the calculators to understand what is actually affordable / doable. Thanks for reading!

- Justin 

 Hey Justin, this is a fantastic market to house hack in. There's substantial demand for single rooms for rent so it's easy to be selective in your choice of tenants. Message me anytime if you have any questions.

I agree with @Marcello Di Gerlando  that @Colin Smith is an excellent option for a realtor, I used his firm to purchase my house hack here and him and his team are extremely knowledgeable on investing and the local market. 

@Colin Smith  and Brent Bowers usually host an excellent meetup at third space. Once normal life resumes, I’d encourage you to visit. 

I usually see @Daniel Haberkost there too. In fact, last year he had an excellent presentation on House Hacking at the meetup.


Honestly, I am concerned about the next few months when it comes to appreciation and high end rents in Colorado Springs... but generally, rent by the room and other affordable housing should have stable cash flow in almost any scenario - so I think you’re setting yourself up for success with your plan.

Last, there are plenty of good realtors in the springs (many on BP too), but I also recommend Colin. You should always run your own numbers, but the stuff I get from him tends to match my own pretty well. He’s been a great help to me and I have not even bought with him... yet. 

Good luck, and welcome!

One great way to learn a market and potentially find something to buy is to get on every wholesaler's list in town. Just Google, "cash home buyer colorado springs" and sign up for any buyers lists. Even if you don't find something you want, analyzing all of these deals will make you a smarter investor. You can do the same thing on the MLS by having an agent sign you up to receive emails for properties that meet specific criteria you're looking for. Again analyze all these to get a feel of what's out there. Good luck!

Oh and I whole hardheartedly endorse Colin Smith as an awesome agent to work with!  I've bought and sold several houses with him and he's the best.  

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