Colorado Real Estate

Colorado Springs, CO. - Nicole Lee with the Ashford Real Estate Group, a leading Colorado Springs property management company, says the recession has significantly lessened the margin of error for real estate investors who are feeling squeezed by the economy and can no longer afford inefficient cost controls and inexperienced management of tenants and vacancies.

She says that property managers who don't sufficiently screen tenants for ability to pay the rent and likelihood of paying it on time, and who don't take proactive steps to reduce or eliminate vacancies, can end up permanently destroying their clients' real estate assets. In some cases, they may risk putting their clients' properties into foreclosure.

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Real estate investors who are just starting out might be surprised to find out that short sales are not guaranteed to be a profitable deal. It is quite possible to lose money on a short sale purchase if you don't know what you're doing. While no investment ever comes with a guarantee, many assume that buying a property at a steep discount below the current mortgages held on the property is a sure-fire way to get rich. Guess what – it isn't.

This is not to discourage you from buying short sales as investments. It's only to underline the necessity of getting an experienced short sale agent in your corner when making an offer on a short sale. It's helpful to find someone who is local to your region. If you’re looking for a Denver short sale, find a Denver agent who is familiar with CO real estate who is also a short sale expert. Without such experts working for you, you are likely to fall victim to delays, price hikes (that’s why it’s called a negotiation), and bureaucratic frustration from bankers who don’t want to be the business of selling real estate.

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