Updated almost 8 years ago on . Most recent reply
Sold Our Investment Home! Doubled in Value!
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@Matt M. I've worked with almost a dozen clients this year moving into the Pueblo area. Some leaving the sprawl from the Denver area and some just liking the area. I recently sold a geodome to a couple of guys moving here after selling a successful coffee business in San Antonio. I think the low cost of living, still the very much small town feel, the Riverwalk area and the summer activity around it (Pueblo comes together to party) is such a huge draw , even though it doesn't compare to San Antonio.
There are not a ton of fix and flip opportunities with the usual 70% ARV but they do come up. Their is a great opportunity to buy and hold as noted in the increased rents. Many of the homes that @Robert Herrera mention in the $30-100k price range are 1900-1950 built homes. Structural integrity is the biggest issue with these older homes and of course desperately needing updating. There is approximately 1900 homes in the Eilers Superfund area where loans simply aren't happening. That area presents a great buy and hold opportunity. 25% of our mls inventory is vacant homes. It's definitely a sellers market at the moment, new construction is picking up and hopefully if it continues it will relieve the inventory pressure.
There really isn't much to discuss about marijuana that you probably don't already know being from the Denver area. There is going to be 4 dispensaries in the city.