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New Member Introductions

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9
Posts
5
Votes
Nate Saenz
  • Canon City, Colorado / Austin
5
Votes |
9
Posts

New, serious, self-educating & want 3-4 rentals buy end of 2023.

Nate Saenz
  • Canon City, Colorado / Austin
Posted Nov 23 2022, 20:58

Hello, my name is Nate -

I'm a motion designer and video producer based in Austin, Texas, but I'm about to move to Colorado.  I have a great career in tech (which is completely remote) and recently have had a serious interest in real estate investing. At the moment, I'm reading a lot of books and listening to podcasts to educate myself. I am fortunate to have some money to begin with, excellent credit, and a well-paying remote job. My goal is to have at least three to four buy-and-hold rentals producing cash flow by the end of 2023. It's also important to note that my wife is on board. I'm diving in and hopefully will be looking for my first deal soon.

It's great to meet everyone and discover this community.

User Stats

8
Posts
1
Votes
Ryan Doner
  • Real Estate Agent
  • Denver CO, USA
1
Votes |
8
Posts
Ryan Doner
  • Real Estate Agent
  • Denver CO, USA
Replied Nov 28 2022, 11:40

Hey @Nate Saenz Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1.Subscribe to the BiggerPockets Money and Rookie Podcasts
2.Attend the FREE WEBINARS
3.Attend a Meetup in Your Area / virtual meet ups
4.Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy
5.Peruse the forums! Ask questions! Answer Questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good luck,
Ryan Doner

User Stats

587
Posts
303
Votes
Alli Breighner
  • Lender
  • San Diego, CA
303
Votes |
587
Posts
Alli Breighner
  • Lender
  • San Diego, CA
Replied Nov 28 2022, 14:58

Hi Nate, would love to connect! 

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User Stats

8
Posts
5
Votes
Aaron Malejko
  • Real Estate Broker
  • Canon City, CO
5
Votes |
8
Posts
Aaron Malejko
  • Real Estate Broker
  • Canon City, CO
Replied Dec 19 2022, 12:41

Hi, Nate. My wife and I were real estate agents in Austin and now own an independent real estate brokerage in Canon City and well as a few short, mid and long term rental properties. We’d love to meet with you and see if we can help you meet your goals.

User Stats

499
Posts
166
Votes
Jane S.
  • Flipper/Rehabber
  • Colorado Springs, CO
166
Votes |
499
Posts
Jane S.
  • Flipper/Rehabber
  • Colorado Springs, CO
Replied Dec 21 2022, 20:45

Hi Nate,

Welcome to a crazy world. Investing in RE is a wild ride with all kinds of hairy scary competition! Get on to realtor.com and sign up for emails covering sales and rentals. Also I believe the MLS has a site where they list current rent levels by area. You might consider getting a real estate license which gives you access to all sorts of data. There are social media groups where For Rent ads appear and you can contact owners and pick their brain.

Here's my take on your 3-4 rentals acquisition. I dont want to rain on your parade but you've gotta hit the street and learn whats going on in the grass roots rental markets you are interested in, and find a lender with the right experience as well as a broker who knows the current insane investing facts, which include cash flow is extremely difficult to achieve and slime ball tenants are just waiting for a newbie like you so they can move in to your place and quit paying rent. And they own weapons and will threaten you and yours. Do a Google search on bad tenants and murdered landlords.

Watch out for condos and townhouses, the maintenance will kill your cash flow. And you've got NO control. The "committee" has their hands in your pocket at all times!

Driving around and parking the car to talk to people residing in an area, if you have a dog its easy to start a chat. Find a dog park and take your dog so you can meet people. everybody likes to talk about real estate.

Yes its a lot of shoe leather--who wears leather shoes anymore? BUT it will pay off. Figure out how many hours a week you can devote to building your foundation, whether its 5 or 50, and write it on your calendar, you know the drill ...