John's REI Blog

An online acocunt of my REI business.

Sunday, February 12, 2006

Update on Colo. Springs and New Builds

Ok. So I've not posted for many many weeks. I'm a slacker like that. Some updates on the recent REI activity. I was all set to put an offer on one of the Colo. Springs properties (3/2 condo) back in late November but someone beat me to the punch. The other properties just didn't seem to jive with the numbers or the neighborhoods. I checked on the new build market in El Paso and ABQ about 2 weeks ago. It wasn't a great effort - I just checked the agent's web site where I was told there would be new product after the first of the year. Well, there wasn't any new product for these particular builders/neighborhoods. I will check again in a few weeks but I am putting this on a back burner for now. I did some research on the RD Forums and on other REI/money web sites, it seems like the ABQ market may be becoming saturated with new homes and flipping may not be as easy as I would like it to be. El Paso still looks promising.

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