Hi Juanita, would love to help you in your search. just let me know what price you feel comfortable with. I strongly recommend you purchase a home that can accomodate a family,3 bedrooms and two baths and a garage, Once a property is selected, I will do a study for you to figure out the equity on the home and if it is worth purchasing or not... Looking forward to hearing from you,
Regards,
Georgina Van Camp
(719)322-4881
GEORGINAREALTOR@MSN.COM

Hello Juanita;
Do you have a lender already? This is a good question for your lender, as far as the purchase of homes in that or any area of the Springs.
The homes that are priced correctly are selling at this time. Probable due to the $8,000 tax credit to first time home owners.
If you're planning on doing flips, are you aware that when you're ready to sell the home, you won't be able to have a FHA buyer until you've owned the home for 6 months.
I'm a land lady myself as well as a Realtor. So I know where you're coming from.
It's always great to work with a Realtor. They have tools that can help you to find just what you're looking for.

Gilda Baxter
SRES, GRI
719-598-3183
"Your Home, My Reputation"

Hi Juanita

80922 or the Powers Corridor area is a generally good place to purchase and sell a property because of it's great proximity to the military bases in the area and it's generally very reasonable housing price points. The key to success...as with all my investor clients...will be making certain that you get the property at a price reasonable enough that you can afford any work the property will need to sell in a reasonable amount of time AND still be able to offer it slightly below the competitive market rate in order so sell the property expeditiously...thus limiting your carrying costs.

It's also important to have reasonable expectations. Do not expect to make a $25,000 profit on a property in this area...expect more in the area of $5,000 to $10,000 IF YOU ARE VERY LUCKY! The smartest...and most successful...real estate investors are the ones who don't try to make a fortune on just 1 or 2 properties, but rather take the long term view by taking properties that have been abused, repair them and offer them to home buyers at a reasonable price with a reasonable profit for themselves. The people who try to stick it to buyers usually don't last...especially when word gets out to those in the industry as well as the general public.

Don't believe everything you see on HGTV and DIY...these are ENTERTAINMENT and tend to forget that EVERY market is different...even neighborhoods differ from one to the other.

Hope this helps.

Best Regards
Brian L. A. Wess
CRS, GRI, ABR, ASR, CSR, e-PRO
Realtor®, Broker Associate
Residential & Investment Specialist
Pat Newell & Associates, Inc - Metro Brokers
Colorado Springs, CO
Direct: 719-528-6672
Web: BrianWess.com
COLORADO REAL ESTATE...DONE RIGHT!™

Voted "Best Realtor in Colorado Springs 2006 & 2008"
The Independent News Readers Poll: Gold 2006, Silver 2008