All Forum Posts by: Spencer Abeyta

@Rob Wallin here is an article that gives a detailed perspective of the Colorado Springs market: https://www.noradarealestate.c.... Although it is not specific to the D20 area I do think it gives great information. 

If you are looking for stronger cashflows you might want to look further south in the city as the further north you go the higher the price. There are currently a lot of renters looking for housing, I just rented out a 3/1 SFR in southern Colorado Springs for $1270 and we had 5 applicants in 2 days.

If you want some great throwback episodes with Josh Dorkin I think episode 108 and 250 are great. Whether you love or hate Grant Cardone I think he does an great job of giving us insight on the world of large multifamily investing and why many believe multifamily is a better asset class than single family. 

At minimum, the episodes got me excited and got me laughing with some humor outside the normal BP podcast.

Hello all. I'm moving back down to Colorado Springs from CSU Fort Collins at the end of the year and I'm looking for a hoarder house to fix up and move into. I've already flipped two hoarder houses so the mess isn't the problem its just finding an deal(isn't it always lol). 

I have creative financing options available to me so that's not an issue. If anyone has a property in the Springs that is too much work for them maybe it would be perfect for me.

I know hoarding is a mental illness so it can be difficult to approach but at the same time I do see the opportunity it represents in real estate. Does anyone have any advise on how to market towards people or families of people dealing with hoarding?

@Mike Wadsley Was it mainly the affordability aspect that drove you to invest in Knoxville? 

I know Colorado Springs is very completive so cashflow is squeezed, but I do know properties are appreciating like crazy here. The Springs also checks the box on diverse and growing economy because of government jobs, the medical field, and a growing UCCS population(pending on how COVID plays out). Or maybe you just wanted to geographically diversify your portfolio? 

Just wondering because I love the Springs and if you have a footing here I wonder why you would invest elsewhere. :)

Hello @Enrique Blanco! The Colorado Springs is very competitive when it comes to finding deals right now. That being said, consistency with wholesaling is a top priority. If you choose postcard mailout be conscious that there are other players in the market doing the same. So specific your target property type of owner type very carefully before spending money that might be ineffective. Focus all your energy on finding a deal because once you have one, finding someone to sell it to will be easy. I know plenty of flippers that are hungry for a deal every since the foreclosure moratorium has reduced the Public Trustee auctions to a trickle.

I would write them on the same side if it is possible to fit them. If the messages are too long then do them on the flip sides of the piece of paper. I just wonder what the chances of someone who speaks English sees the Spanish side first and instantly throws it away without flipping it over.

Hello Richard,

I would check to see if you can purchase a foreclosure using an FHA loan, it varies from city to city. In Colorado Springs you have to have 100% of the purchase price in cash but it could be different in Denver. How badly do you need the extra cashflow from refinancing to a 30 year loan? I would just be wary because you will be paying a lot of fees refinancing the loan and in some cases, the cost would not be recouped quickly. I like the initiative to live in flip though.

Hello Horacio,

That's how I would set up the letter personally. If you can answer both languages on one phone number that that would be a bonus so you don't have to give different numbers for each paragraph. On the flip side, if you want to separate the languages for phone calls make sure the different numbers are in their respective paragraphs. Hope this helps!

You don't have to fail with a bunch of money. You can fail with a little bit of money and still learn the same lesson if you are smart. Risk management is different for everyone because everyone has a different risk tolerance. It seems like you might like to play it on the safer side, and that's perfectly okay! The first step is educating yourself to a point where you feel comfortable pulling the trigger. It does not have to be some huge extravagant deal, just get a good base hit and you will get a great deal of experience. I hope you the best!

I would say the Springs is doing very well in property appreciation but if you are looking for strictly cash flow I would recommend a different area with lower purchase prices. That being said, I love Colorado Springs because of what I believe is a strong job market, ie military bases and technology companies, and it is a great city to hold onto an investment.