Looking for advice/experience on Cheyenne, WY market
Hello from Northern Colorado!
I'm a relatively new investor, currently holding one SFR in Fort Collins.
Because northern Colorado is in the midst of chaos and frenzy (boom/bubble) we have been looking north for our next deal. This brings me to my inquiry. I've done just about all the research I could do on the Cheyenne and Laramie markets and have found a lot of mixed positive and negative forecast for property values. What I have yet to find is ANY details on the rental market in Cheyenne.
Currently interested in new/newer Condos in the $220-$240k range or SFR in the $175 range. Hoping for dependable minimal cash flow and solid appreciation (if it exists).
What I'm looking for specifically.
1. As of 12/2016 how inflated or fair-priced are SFR and Condo prices?
2. How does the rental market in Cheyenne look? Supply, demand, cost per-sq foot.?
3. Vacancy Rates? (Zillow and other web sources aren't clear)
4. Volatility of Cheyenne's economy and rental market? NoCo is strong, but expensive w/few deals.
5. OPINIONS! What is your take on getting in on the Cheyenne market now and early 2017?
Any comments and suggestions are VERY welcomed!