Hi! It's me, the Flip Lady again. I am so sick of a the "bad real estate news" again this week.
If it's so bad, how come business is so good? While I don't think this is the ideal time to "flip", it's an excellent time to fix and hold property. If you've got the guts and the money, this is the time to invest. It's not just me saying so...just look around at what the rich are doing and you'll find out how they got that way and how they intend to STAY that way.
This week, my husband and I did 3 Open Houses: 
We didn't get many buyers through them, though...why not? I think it's a combination of fear and too many choices for qualified buyers.
I checked the local MLS for active residental listings the other day and there were OVER 8,000 single family/condo/townhome/paito home listings, but guess what? Only about 250 investment property, (rental) listings. What does this mean? We are still getting more people because our population is steadily growing, but buyers are not in the mood to buy, so where do they have to live? You got it... RENTALS.
Single family rentals are prime property in this market, multi units come in a strong second and then we have apartment buildings, condos and townhomes bringing up the rear. If the Ft. Carson expansion goes through, things will be booming in the Colorado Springs and Pueblo, CO markets. It's time to buy and hold. Rent them out...maybe you don't get a huge cash flow if you have to finance a large amount, but let the renters cover your payments and WAIT. It's always worked in the past...
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