Aspiring buy and hold investor new to BP

5 Replies

Hi BP community - I am newer BP member and wanted to introduce myself. I am just finishing a year long rehab of our first house hack (my first complete reno) and am looking to begin the next steps of our buy and hold journey.

Our 5 year goal is to develop a ‘passive’ income stream to create financial independence by growing a buy and hold portfolio of multifamily residences. I spent 15 years working in the Nonprofit world of housing, homelessness and mental health and my wife still works in the homelessness arena at our local homeless shelter.

I plan to utilize the BRRR methodology and am looking to build my team of trusted partners. I would like to begin investing where we live, Salt Lake City, and then would be happy to progress to other out of state options once I become more familiar and proficient with deal analysis. I grew up in Rapid City, SD and would be willing to explore investment options there as well.

To take the first steps I thought I would introduce myself.

Thanks for the help and here’s to the journey.

Leif Oldert

@Leif Oldert

Hi Leif,

I got an alert of your message since I’m in Rapid City (not too many of us on BP)

I’m and investor and financial advisor. So if you start looking at investments back here let me know and we can chat!

Best of luck on your journey!

Hi Saaed, thanks for reaching out. I’d love to meet up sometime when we make it back for a visit. 

Until then, we should keep in touch. What kind of investing do you do in RC? How’s the market there?

PS- are you a Chfc or CFP?

Best,

Leif 

Hi Cherie, thanks for reaching out and providing your contact. I’d be happy to learn about your personal investing and professional experience.

Be in touch,

Leif 

Ya let me know, I'm trying to decide if I should start a meetup in the area, but that might be for a while yet. 

I invest in small multi families, 2-4 units for now. But I'm hoping to grow from that but I want to make sure the growth is organic and I'm a bit conservative so I'm taking it slow. 

I have family out in Longmont so I come out there sometimes as well. But your market is definitely challenging. It's been a bit tight here, especially in Rapid City. Feels a bit inflated, but there are always opportunities (value add and such) 

Working on the CFP currently, been in the business for about 8 years. 

Let me know if/when you come to town and we can connect! 

Cheers