real estate in Co or Wy

mixedbag · Nov 13, 2017

I was wondering how the housing markets are in Co and Wy.I'm mainly interested in flipping homes so markets would generally be in bigger cities or towns that I'd be interested in.When I was in Colorado in Sept it really looked like the economy was doing great there.Or is the market doing so well that would finding a flip to buy going to be tough.How's the economy doing in Wyoming?These would be my 2 preferred states to move to
One of these years I have to just move out west instead of dreaming.

Dinkshooter · Nov 13, 2017

On the good side of Colorado you're lucky to find a place to live yourself let alone flip.

Magnum Sherpa · Nov 13, 2017

Where are you moving from?

JLDemo · Nov 13, 2017

Here in Cheyenne the economy is doing well, housing is a huge problem as there isn't enough affordable homes for the Air Force base populous. That means houses are being sold way over what they should be, terrible for the buyers but booming time for sellers. I don't know how true it is, but I heard of a rumour that a company is putting in a ton of homes here in the future. So that might be something to ponder. Something else to look at is the longevity and life extension programs that is set to take place over the next 20 years for the ICBM's. (Projected) Those programs alone are going to demand homes. Good luck!

SFC B · Nov 13, 2017

I've been in the front range for 8.5 years now and the days of flipping for a profit are a couple of years past. In my neighborhood (near the Academy) houses generally sell in a week at most for at least list. Still not NEARLY as ridiculous as what is going on in Denver, or Ft Collins for that matter. My buddy built a house in Ft Collins 2 years ago and similar houses in his neighborhood are now selling for about 30-40% over what he paid.....nuts

JWP58 · Nov 13, 2017

WY? Expensive. And there aren't any "big cities" here.

mixedbag · Nov 14, 2017

Maybe,I should look into buying land and building custom homes.I've been a building contractor on the East coast for almost 20 years,and in construction for 33 years.I've done a few custom homes for myself,but thought maybe the flip market would be good.I just think I'd enjoy the lifestyle out in those 2 states for the last 1/3 of my life.My wife is a drug treatment counselor and that business is good everywhere,unfortunately.I have to research a little around Cheyenne

mtmuley · Nov 14, 2017

Last time I drove through Sheridan it looked like things were busy. Any of you Wyoming guys know what all the construction is on the North end? mtmuley

Western Traveler1 · Nov 15, 2017

If I was inclined to do what you are looking to do and had the capital to go in strong, I personally would look in and around the outskirts of Bozeman MT (but I wouldn't tell my neighbors).

utahminer · Nov 15, 2017

Last numbers I saw had Colorado as the 3rd or 4th hottest market in the nation. I just moved from Utah (currently hottest market) in June and it hurt. As several have stated above, finding a home can be tough. If you aren't in the state you will need to buy the home without seeing it in person. We were looking for a little bit of land so the homes werent going as fast, but I heard horror stories of 30+ offers on some homes and homes being purchased before they even reached the market.

Zach · Nov 15, 2017

utahminer said:
Last numbers I saw had Colorado as the 3rd or 4th hottest market in the nation. I just moved from Utah (currently hottest market) in June and it hurt. As several have stated above, finding a home can be tough. If you aren't in the state you will need to buy the home without seeing it in person. We were looking for a little bit of land so the homes werent going as fast, but I heard horror stories of 30+ offers on some homes and homes being purchased before they even reached the market.

Took 2 years of patience to get a place we finally liked. Premium money for any property with acreage. Not sure how much you were looking for, but the 5-20 acre places were fairly easy to come by SE of Denver. 35+ acres was a different story. I ended up with 65.

mixedbag · Nov 15, 2017

I'm definitely going to have to look further into this.A strong market is exactly what I need.Now I need to call Realtors and ask about run down homes and what areas to concentrate on.Most people would have no interest in buying properties that basically need to be gutted and redone.But in a hot market I'll still have enough competition where profits may be too low
What's the building lot situation?Are they getting bought up quick?Or are they overpriced?The custom home market would be a big money maker if land isn't outrageous

JLDemo · Nov 15, 2017

Lots of historical homes needing to be gutted or updated here in Cheyenne, plus no income taxes. Land is a little bit pricey here in Wyo, can't compare to CO b/c I don't own anything in that state. I can tell you that others are not exaggerating about Fort Collins, it's mostly new builds from what I know of, but it's expanding rapidly. There was a deal going on here with the historical homes, if you moved them from their current location without demolition, it's yours. Not sure if it's still in play but if you are savvy enough to refurbish an entire home, it might be worth looking into.

SFC B · Nov 15, 2017

The only reasonable land around the Springs here is WAY out east on the plains. As mentioned above, I believe, in CO you HAVE TO ENSURE that you have water rights with the property!!! Something I would have never thought about, coming from the Midwest, is that just because you own land here doesn't mean you can sink a well. Food for thought.

mixedbag said:
I'm definitely going to have to look further into this.A strong market is exactly what I need.Now I need to call Realtors and ask about run down homes and what areas to concentrate on.Most people would have no interest in buying properties that basically need to be gutted and redone.But in a hot market I'll still have enough competition where profits may be too low
What's the building lot situation?Are they getting bought up quick?Or are they overpriced?The custom home market would be a big money maker if land isn't outrageous

utahminer · Nov 15, 2017

mixedbag said:
I'm definitely going to have to look further into this.A strong market is exactly what I need.Now I need to call Realtors and ask about run down homes and what areas to concentrate on.Most people would have no interest in buying properties that basically need to be gutted and redone.But in a hot market I'll still have enough competition where profits may be too low
What's the building lot situation?Are they getting bought up quick?Or are they overpriced?The custom home market would be a big money maker if land isn't outrageous

When we started looking in March our agent explained to us that recent changes to Colorado code had greatly slowed building, so there was more demand then supply. If you want, I am happy pass along the name and number of our agent. He was by far the best we have worked with.

Zach · Nov 15, 2017

mixedbag said:
I'm definitely going to have to look further into this.A strong market is exactly what I need.Now I need to call Realtors and ask about run down homes and what areas to concentrate on.Most people would have no interest in buying properties that basically need to be gutted and redone.But in a hot market I'll still have enough competition where profits may be too low
What's the building lot situation?Are they getting bought up quick?Or are they overpriced?The custom home market would be a big money maker if land isn't outrageous

Cap Hill... Aurora....

utahminer said:
When we started looking in March our agent explained to us that recent changes to Colorado code had greatly slowed building, so there was more demand then supply. If you want, I am happy pass along the name and number of our agent. He was by far the best we have worked with.

Where did you end up?

utahminer · Nov 15, 2017

Zach said:
Where did you end up?

Since we wanted a little bit of land and to stay somewhat close to the Tech Center we bought in Northern Elizabeth by the Parker border. I really like Sedalia and the surrounding areas, but very few houses came on the market in that area and those that did would not work for us. We are super excited and are really enjoying our experience here.

Duck-Slayer · Nov 16, 2017

mixedbag said:
Maybe,I should look into buying land and building custom homes.I've been a building contractor on the East coast for almost 20 years,and in construction for 33 years.I've done a few custom homes for myself,but thought maybe the flip market would be good.I just think I'd enjoy the lifestyle out in those 2 states for the last 1/3 of my life.My wife is a drug treatment counselor and that business is good everywhere,unfortunately.I have to research a little around Cheyenne

Just a suggestion, Check out SW Idaho, the housing and economy is doing really well here along with the rental economy. If your in your last 1/3 of your life, SW Idaho is about as good as it gets as far as opportunity for hunting and fishing and the weather is second to none..... Best weather in the West imo. if you have any questions feel free to PM me. Good luck,
Matt

Zach · Nov 16, 2017

utahminer said:
Since we wanted a little bit of land and to stay somewhat close to the Tech Center we bought in Northern Elizabeth by the Parker border. I really like Sedalia and the surrounding areas, but very few houses came on the market in that area and those that did would not work for us. We are super excited and are really enjoying our experience here.

I'm on the south side of Elizabeth. Howdy neighbor!

utahminer · Nov 16, 2017

Zach said:
I'm on the south side of Elizabeth. Howdy neighbor!

Thanks
I tried to send you a PM, but got a message back saying your inbox is too full and you can not receive any more messages.

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