New investor in Colorado Springs
I am new to REI and very interested in Colorado Springs. I’m hoping my first property will be a single family in a good neighborhood but I’m concerned prices are already too high to produce positive cash flow. Is this a good area to invest? Love to hear what the locals think and how they find good deals.
Do I just need to analyze tons of properties and make lots of offers at the price that makes sense? Or am I too late to the game for this area? Are there other towns where investors are finding good deals in Colorado?
Looking forward to getting to know some real investors and networking here on BP. Hoping I can learn from the experts!! Thanks!
Most Popular Reply
@Kirsten McAuliffe - You definitely can still find cash flowing properties but its certainly becoming more of a challenge these days. To a degree, you'll have better luck cash flowing with a 4-plex over single family right now if you can afford along with better overall ROI. If your set starting with the simple single family, I would recommend areas like Security / Widefield and Hancock / Academy and areas between the two and around them. If you want better neighborhoods, cash flow may be a little more of a challenge but you may want to consider the south powers corridor.
- Colin Smith