State of the Market: Rental Options

Screenshot 2015-09-17 19.53.53Looking to rent a home in Colorado Springs?  Interestingly, there are 124 MLS listed Single Family Homes (SFH) w/3+ bedrooms on the market at $1500 and below.  There are 87 on the market at $1501 and above.

This differs from July by a total of 4 homes, which makes for an interesting market.

If buying is an option, I’d be honored to earn your business!

DATA SOURCE: PPAR MLS derived statistics

From the inbox: can I flip a house for no money out of pocket?

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This is a REALLY GOOD QUESTION. And the answer is not short. Rather, the short answer is: that’s complicated.

Generally speaking, no. There are a number of methodologies out there on the Internets that speak to ways to do this but my advice here is (pardon the caps): PROCEED WITH CAUTION. 

The circumstances of a flip are so varied I’m struggling with how to capture this is a broad overview post. I would suggest that flipping a home is not for the faint of heart. Nor should you do so (in my opinion) without a Plan B. Plan B is this: can I carry the house for the length of time it needs to sell or will it rent out for the carrying costs?

Specific to ‘no money out of pocket’: a real estate transaction costs money. There’s no two ways about it. Where does that money come from? Could be an investor, could be your account. Always, always account for these costs.

If you want to take specifics about the Colorado Springs markets, please give me a ring at 719-440-6626!