Pueblo CO investing information(other than City-Data)

12 Replies

  • Hi Everyone,  Fairly new investor in Lakewood.  I'm interested in learning more about Pueblo as an investment area, as I know very little about it. I'm looking to branch out of the Denver metro area, but hopefully stay within driving distance of my home. From reading other posts, it seems like a good place to consider for buy and hold, multifamily, and possibly flips. Especially in Colorado.  
  • I'd love to connect with people investing down there for general info about the area in regards to RE Investing 

Thanks in advance

Jeff 

I probably know the town and Real Estate and all the "Shakers" in that town!

I did 44 complete Flip ( re habs ). as a contractor and 4 of them on my own.

My profit was over $78,500 after closing cost and Real Estate Fees!

Moved away 12  months ago.  Was there under 40 months!

1-4 years ago I bought houses for  $53K, $47K,$55 K. and $41 K. 

After product, closing cost and Real Estate fee's.   Made an average of

$78,500   Each!

I did the rehab work.    And 40 other houses for investors, real estate agents, and 

2 wholesalers!

Good luck finding a Contractor worth SHIP!!!!

Originally posted by @David Avery :

1-4 years ago I bought houses for  $53K, $47K,$55 K. and $41 K. 

After product, closing cost and Real Estate fee's.   Made an average of

$78,500   Each!

I did the rehab work.    And 40 other houses for investors, real estate agents, and 

2 wholesalers!

Good luck finding a Contractor worth SHIP!!!!

 Wow.  Those are awesome numbers.  What’s up with the Contractors though? 

I have done some write ups in the past. I think that the recent podcast was decent. The choice of houses they decided to consider was not my personal favorite and unlikely to make me even open it in a browser if my drip contained it-which it wouldn’t.

I think it’s a great city. However, there are an inordinate number of people who are flaky compared to CS and Denver. Good Contractors and property managers and handy men are hard to find. They exist, but I have always had a much easier time getting them to show up (or even return calls) when I lived in Denver and the Springs. In fact sometimes I am just paying them to go down from the springs-the lost time for people not showing up easily makes it more expensive than paying reliable people from less than an hour away.

Prospective Tenants are that way too. Maybe thats normal other places, but the first time I tried to fill a vacancy, I think maybe 10% of people showed up even after confirming with them less than 2 hours before. I’ve since gotten a lot better at making people stick to it and planning for some no shows.

I am still looking to buy in Pueblo. Market inefficiency makes you stand out. Many people don’t screen tenants or treat them right. I do both (I think) and so I feel like I have an easy advantage. It is more work though. The experience has been invaluable.

Also, I am thinking about doing a sort of reia or at least happy hour in the city sometime in the next month with a few BP and local people, depending on interest. Hit me up if you are interested-goes for anyone.

I can share some of my recent #’s or consider a few of yours if you like too.

Originally posted by @David Avery :

No votes!!  HUM !!!

Contractors their worth anything are busy.

Busy contractors are expensive.

Sorry man.  I haven’ t been on in about a week.  Thanks for the insight.  

Originally posted by @Dylan Daniel :

Hey Jeff, 

Pueblo has been a growing area. I have worked with several investors from the area and have closed deals in the area recently. I would love to connect and give you all the information I know about the area!

I look forward to talking further,

Dylan Daniel

Hi Dylan.  Would love to connect.  

Originally posted by @Jeremy Norman :

I think it’s a great city. However, there are an inordinate number of people who are flaky compared to CS and Denver. Good Contractors and property managers and handy men are hard to find. They exist, but I have always had a much easier time getting them to show up (or even return calls) when I lived in Denver and the Springs. In fact sometimes I am just paying them to go down from the springs-the lost time for people not showing up easily makes it more expensive than paying reliable people from less than an hour away.

Prospective Tenants are that way too. Maybe thats normal other places, but the first time I tried to fill a vacancy, I think maybe 10% of people showed up even after confirming with them less than 2 hours before. I’ve since gotten a lot better at making people stick to it and planning for some no shows.

I am still looking to buy in Pueblo. Market inefficiency makes you stand out. Many people don’t screen tenants or treat them right. I do both (I think) and so I feel like I have an easy advantage. It is more work though. The experience has been invaluable.

Also, I am thinking about doing a sort of reia or at least happy hour in the city sometime in the next month with a few BP and local people, depending on interest. Hit me up if you are interested-goes for anyone.

I can share some of my recent #’s or consider a few of yours if you like too.

Thanks for that insight Jeremy.  Like I mentioned.  I really know very little on the City of Pueblo, and insight from people investing down there really is helpful to me.  Thank you for that.  

We have 19 properties in Pueblo and a great team on the ground. We started buying in 2013 and stopped buying in 2016 when the prices started going up. We love the town and the rental business for us has been great. At the current price points, I would be more cautious, but I assume there are still a few deals around if you can be creative about it.

Mike