All Forum Posts by: Mark Caudill

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  

@Dmitriy Fomichenko spasiba drug! 

@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....

@Kent Lord yes it went under contract within days, fell out of contract, accepted another offer 1 week later.

Sam, yes it would but did not fit our goals at this time. Thanks for the input

Ngozi, I am a investor specifically in the pueblo market. I have completed 2 successful flips in the past 18 months. I live 17 mile east of castle rock in the town of Elizabeth. Would love to connect if I can be of any assistance. Glad to have you and hubby on the journey. 

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.....

@Stephen karagosian the commute to S. COS, houses are cheaper. Even in Pueblo West You can get into a spec home for 350k to 425k w/ an acre of land. Housing prices are low, there is very little inventory. The Pueblo Water District guy I spoke with says he is doing about 12 a week of boarded up houses needing the water turned on. in certain neighborhoods that I am currently farming in.

@Katrina Sumilang sorry for the long delay, finishing up our 2nd flip. The pueblo market shows an avg appreciation of 14%, the stigma around Pueblo is a great advantage the keep the market low and plenty of inventory tho there is only .8 for a months supply. I choose Pueblo bc the prices are sane. The competion isnt spurred on by blind greed jacking prices into the ridiculous stratosphere. Its the right environment for a new investor like myself to explore any possibilities here in Pueblo. (sfh,mfh,sfr/mfr spec) 

@James Carlson I am active in the pueblo market. @Rick Thomas  gave some good input. I guess for me this is a long term play. I believe Gretzky said it best, "Im skating to where the puck is going to be."