Any REI form Casper, Wyoming? Or Area?

Question

Bill S. · Answer

Account Closed I have seen a bunch of bandit signs and I did some research. They appear to belong to a guy with the last name Ward. He also advertises in the Eagle and the Trader as buying properties fast.

Just curious as to why you are looking in No. Co for your next property? Also what are you looking for? a multi or SFH?

Account Closed · Answer

@Bill S. Ah, Jim Ward, he has been around for a long time. I don't recall seeing so many bandit signs before, I guess the market has gotten tight even for him.

I'm looking for another SFH and the reason why in northern CO is because I feel the economy is stronger (more varied industry) there. Having lived in Cheyenne for 14 years now and traveling to northern CO regularly, I see a huge difference in the vitality of both economies. I also feel I have a better choice of neighborhoods in CO and for the same price of a house here, I can get one that is newer there. I honestly do worry about Cheyenne's economy sometimes, with the state and AF being the major employers, although I admit it is slowly getting better with some new industries moving in.

Account Closed · Answer

@Jordan Venjohn Hello from Cheyenne! As @Bill S. said, I have also only seen one other person from Casper and he does sell properties, maybe even is doing them turnkey.  @Jerry W. might know a little more about that.  I have been seeing a lot of wholesaler's signs around Cheyenne lately but I have only seen one other person from Cheyenne on here.

I have one SFR here but am currently looking in northern CO for my next one.

Jerry W. · Answer

Hey @Jordan Venjohn , I just got back from a trip to Cheyenne and Denver.

When it comes to real estate Wyoming does not tend to follow national trends.  our trends are tied to the mineral industries.  Casper and the area down into Cheyenne is in a boom right now with Douglas being the center of it.  it is part of an oil formation that was discovered awhile back.  Casper is going nuts again.  You might be able to buy high and rent higher or even sale higher, however I have seen Casper bust really hard twice in my lifetime.  Each time it went bust lots of folks went bankrupt.  I believe Casper will keep growing for quite awhile but am too gunshy to invest there right now.  There is a decent amount of new building going on and sales seem to be strong.  If you buy there make sure you have a ten year exit plan, or shorter.  I would be glad to chat with you sometime in the evenings if you want.

Dennis Nemitz · Answer

I grew up in Casper and Sheridan, and now live in Billings. I bought my first property about 6 months ago. It is going well so far. I fortunately bought it for a really good price and am able to cash flow really well. Casper seems to be booming right now according to relatives who live there. It has always been a bit of a boom and bust town. My thoughts would be to only buy if you get a really good deal that will not break you when Casper is in the bust cycle. You need to be very far sighted which can be hard when you see an economy going great guns in an area. Just be very business like in your investing. The secret to any business including REI is to buy low and sell high. In my case that means low mortgage payments, and much higher rents. Good luck.

Bill S. · Answer

@Jordan Venjohn I have seen one other person who has investments in Casper and I think he was offering them for sale via the market place. Try the search feature and you will probably find him. I have a property in Cheyenne and there is Michelle Y who lives and invests there. You can search for her. Also @Jerry W. is from the middle of the state. Since I mentioned him, he will see this post.

The search feature is great for locating folks. There are a number of folks from Wyoming but not many active in the forums. Search using a key word of Wyoming or Casper and you can reach out to them and see how many are active.