Hello everyone!

I am new to bigger pockets and real estate investing.  Excited to learn and share growth with this awesome community! I am in the process of building my real estate team and the whole thing is really exciting!  I will help where I can as well. Thank you all

@Adam Ferro Welcome to BP! I just got back from your fabulous city. It had been 20 years since I'd been there and hopefully it's not another 20 before I return. 

What kind of investing are you going to focus on?

@Ryan Murdock Thank you! a lot has changed in 20 years huh? 

I am focusing on 3-10 unit multi-family homes in the North Denver area. I do not have very much initial investment to start so I am looking at raising capital and coupling it with a loan, but I don't know if that's the best way to go about it. I know if I occupy one of the units in a 4-plex or lower i could possibly qualify for a FHA to help my down payment. Any suggestions would be of great help.

If you're short on cash the 3.5% down FHA loan on a 4-unit is probably your best bet. I know the Denver market is pretty hot so you may have to search patiently to find something that cash flows. Once you get to properties with 5 units and above you're into the commercial lending zone. Terms are less attractive and the down payment requirement is usually 20% or more.

If you cruise the forums and listen to the podcasts you'll find all sorts of creative strategies to do more with less (or no) money so there are other options out there. 

I've got a keen eye out for deals, also working with local realtors to help with the search. From the current market it should be easier to find than a single-family investment property (rolling eyes). Thank you Ryan, I've read a couple great articles and books but have not listen to any podcasts so I will try that.

welcome!

 This place will suck you in if you let it! Lots of info here to take advantage of and lots of smart people willing to help.

@Adam Ferro  

I guess this is one of those "Welcome to BP!" responses. Congrats on taking a step in real estate investing. 

Denver's tough, as @Ryan Murdock said. It sounds like you're open to living in one of the units. That's certainly a way to lower the initial capital requirements. Going FHA could help with that as well, but then you have to submit offers as an FHA buyer, which can reduce the attractiveness in this competitive market. I know there are some down-payment assistance programs, like Colorado's CHFA and Denver's MMAP. They have surprisingly high income thresholds, but I don't know if you can buy a multi-unit with those.

If you don't want to live in the place, and you're just looking for a pure investment somewhat close to home, you might consider Colorado Springs. It's not cheap, or anything, but it's cheap-ER than Denver by a good chunk. 

Either way, talk to a good lender who can walk you through the options.

Good luck!

@Adam Ferro Another warm welcome to BP. I signed up less than a week ago and have met some amazing people already, some of which are on this thread. Sit down, dig in, and get excited! 

@James Carlson Thanks for the warm welcome. It is definitely going to be a challenge breaking in but not scared of the work. I'll start checking out Colorado Springs but since I would need to live there to receive the FHA guidelines 3.5% that will be difficult. I had never heard of the programs either so I'll will see what their qualifications are.

I am meeting with a lender later next week so that will really help weigh my options.

Thank you for all the help

@Nick Kaihoi Ive only been on a couple days and already have learned so much. Facebook be damned! Thanks so much for the warm welcome