1208 Taylor Ave, Pueblo, CO

11 Replies

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000
Cash invested: $60,000
Sale price: $190,000

SFR 1548sq ft 3 bdrm, 1.5 bath. Gut remodel, new drain,electric, plumbing,roof windows, drywall flooring and carpet

What made you interested in investing in this type of deal?

Numbers made sense, house located in established neighborhood

How did you find this deal and how did you negotiate it?

I have a realtor who knows what our parameters are and suggested this project.

How did you finance this deal?

Hard money, 15% down, 100% rehab funded

How did you add value to the deal?

Excellent finishes. Organized the flow of the house by moving 2 stairways and removing walls

What was the outcome?

Net profit of 40K

Lessons learned? Challenges?

Assess project more on a detailed level, add more time then what you think . Add additional labor into the budget.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, realtor, hard money lender, title etc.....

@Kent Lord sorry didnt answer the 2nd part. There were concerns but since I had to leave on the weekends I introduced myself to my neighbors, let them tour the house (tons of history and intel about the street and gave them my card to contact me if anything happens. It appears that if you are improving a neighborhood you can get the support of your neighbors....

It has to do with sphere of influence. Pueblo is south of Colorado Springs. Smaller population with no major industry. Most Coloradans express the same disgust when I tell them I am investing in Pueblo. But seriously, how can you argue with sub 100k rehabs in Colorado, 14% appreciation per year consistently. This last flip gained 6k WHILE I was rehabbing it. Future plans for the town of Pueblo include Boeing moving there. Larger companies, according to my discussion with local gov't  are being courted to move to Pueblo as well. Best kept secret in Colorado tho I may have let the cat out of the bag. lol  

Originally posted by @Mark Caudill :

@Kent Lord sorry didnt answer the 2nd part. There were concerns but since I had to leave on the weekends I introduced myself to my neighbors, let them tour the house (tons of history and intel about the street and gave them my card to contact me if anything happens. It appears that if you are improving a neighborhood you can get the support of your neighbors....

This is darn good advice right here. I like it. Thank you. I am looking at doing some investments down there. 

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