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Blaine Adams
Pro Member
  • Rental Property Investor
  • Fort Collins, CO
2
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3
Posts

First post - looking to learn more, network, and scale quickly

Blaine Adams
Pro Member
  • Rental Property Investor
  • Fort Collins, CO
Posted Jan 27 2023, 14:31

My big goal is to use REI to help propel our family into financial independence (and work-optional) life. I am married and have two kids and we've owned our home here in Fort Collins, CO since 2018. We purchased a local cash-flowing SFR in 2021 (before interest rates increased) which we self-manage since it's so close to home. In 2022, we also made the leap to purchase an out of state SFR in Montgomery, AL, where rental properties can still be found for $100k or less. After having the entire HVAC system stolen 1 week after closing, we have stabilized with tenants and positive cash flow.

I have read many FIRE and REI book and listened to endless podcasts. Now starting to get more involved in Northern Colorado networking meetups and trying to locate below market deals to continue investing local. Also, we want to continue scaling our out of state portfolio into multi-family. Targeting Louisville, KY and continuing our research and hoping to start building local team soon.

Glad to be a part of this great community!

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14
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Allen Frantz
Pro Member
  • Louisville, KY
6
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14
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Allen Frantz
Pro Member
  • Louisville, KY
Replied Jan 27 2023, 16:51
Quote from @Blaine Adams:

My big goal is to use REI to help propel our family into financial independence (and work-optional) life. I am married and have two kids and we've owned our home here in Fort Collins, CO since 2018. We purchased a local cash-flowing SFR in 2021 (before interest rates increased) which we self-manage since it's so close to home. In 2022, we also made the leap to purchase an out of state SFR in Montgomery, AL, where rental properties can still be found for $100k or less. After having the entire HVAC system stolen 1 week after closing, we have stabilized with tenants and positive cash flow.

I have read many FIRE and REI book and listened to endless podcasts. Now starting to get more involved in Northern Colorado networking meetups and trying to locate below market deals to continue investing local. Also, we want to continue scaling our out of state portfolio into multi-family. Targeting Louisville, KY and continuing our research and hoping to start building local team soon.

Glad to be a part of this great community!


 Hi Blaine,

I’m in the Louisville area and a huge fan of FC and Northern Colorado. We spend LOTS of time in the area and hope to have a place out that way in the near future. I’d be happy to connect and help in any way possible. 

-Allen

User Stats

171
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116
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Ryan Lesley
  • Real Estate Agent
  • Fort Collins, CO
116
Votes |
171
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Ryan Lesley
  • Real Estate Agent
  • Fort Collins, CO
Replied Jan 27 2023, 16:57

Hey @Blaine Adams,

Welcome to the biggerpockets forums and putting that knowledge you've accumulated into action. 

I also am in the Fort Collins market and would be happy to talk with you about your investing goals and offer any help you may need. 

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193
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157
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Jevon Shaw
  • Investor
  • DFW, TX
157
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193
Posts
Jevon Shaw
  • Investor
  • DFW, TX
Replied Jan 27 2023, 17:06

1 week after closing is absolutely ludicrous lol glad you got that straightened out!

User Stats

331
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329
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Ben Rhodin
  • Realtor
  • Denver, CO
329
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331
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Ben Rhodin
  • Realtor
  • Denver, CO
Replied Jan 30 2023, 08:25

Hey @Blaine Adams! Welcome to the Forums and seems like you guys are already on the right track as far as your investments. It seems that you have a few markets built out to focus on, I would say that tightening up your markets will help you in the long term, especially if you aren't self-managing all of them. Your economies of scale will be better if you have numerous properties in one market instead of a couple in a few markets. 

I'm always a fan of Colorado in general, and personally am pulling my out-of-state investments back here. Being in FoCo you also have Loveland and Greeley nearby which are both solid emerging markets. I've had quite a few clients closing in Greeley lately. It may also be close enough for you to continue self-managing. You also have the opportunity to choose to move and purchase a new primary and turn your current home into a rental.

User Stats

3
Posts
2
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Blaine Adams
Pro Member
  • Rental Property Investor
  • Fort Collins, CO
2
Votes |
3
Posts
Blaine Adams
Pro Member
  • Rental Property Investor
  • Fort Collins, CO
Replied Jan 30 2023, 09:51
Quote from @Ben Rhodin:

Hey @Blaine Adams! Welcome to the Forums and seems like you guys are already on the right track as far as your investments. It seems that you have a few markets built out to focus on, I would say that tightening up your markets will help you in the long term, especially if you aren't self-managing all of them. Your economies of scale will be better if you have numerous properties in one market instead of a couple in a few markets. 

I'm always a fan of Colorado in general, and personally am pulling my out-of-state investments back here. Being in FoCo you also have Loveland and Greeley nearby which are both solid emerging markets. I've had quite a few clients closing in Greeley lately. It may also be close enough for you to continue self-managing. You also have the opportunity to choose to move and purchase a new primary and turn your current home into a rental.


 All great points, Ben. Thank you for the feedback! I agree that tightening up would be helpful. I have developed some new key contacts in the KY area, so doing a bit of a shift and probably won't continue in AL. Mostly looking at out of state right now due to the much lower cost of entry than Colorado.

User Stats

3
Posts
2
Votes
Blaine Adams
Pro Member
  • Rental Property Investor
  • Fort Collins, CO
2
Votes |
3
Posts
Blaine Adams
Pro Member
  • Rental Property Investor
  • Fort Collins, CO
Replied Jan 30 2023, 09:54
Quote from @Allen Frantz:
Quote from @Blaine Adams:

My big goal is to use REI to help propel our family into financial independence (and work-optional) life. I am married and have two kids and we've owned our home here in Fort Collins, CO since 2018. We purchased a local cash-flowing SFR in 2021 (before interest rates increased) which we self-manage since it's so close to home. In 2022, we also made the leap to purchase an out of state SFR in Montgomery, AL, where rental properties can still be found for $100k or less. After having the entire HVAC system stolen 1 week after closing, we have stabilized with tenants and positive cash flow.

I have read many FIRE and REI book and listened to endless podcasts. Now starting to get more involved in Northern Colorado networking meetups and trying to locate below market deals to continue investing local. Also, we want to continue scaling our out of state portfolio into multi-family. Targeting Louisville, KY and continuing our research and hoping to start building local team soon.

Glad to be a part of this great community!


 Hi Blaine,

I’m in the Louisville area and a huge fan of FC and Northern Colorado. We spend LOTS of time in the area and hope to have a place out that way in the near future. I’d be happy to connect and help in any way possible. 

-Allen


 Hi Allen. Are you currently investing in Louisville? Or maybe you have a good handle on the market there? I'd love to discuss details of the area with people that are locale and have an investor mindset.

User Stats

1,392
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1,281
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Ryan Thomson#1 House Hacking Contributor
  • Real Estate Agent
  • Colorado Springs, CO
1,281
Votes |
1,392
Posts
Ryan Thomson#1 House Hacking Contributor
  • Real Estate Agent
  • Colorado Springs, CO
Replied Jan 30 2023, 10:12

@Blaine Adams nice work! Following the chain here so I can see what is going on in markets outside of CO. 

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User Stats

14
Posts
6
Votes
Allen Frantz
Pro Member
  • Louisville, KY
6
Votes |
14
Posts
Allen Frantz
Pro Member
  • Louisville, KY
Replied Jan 30 2023, 11:15
Quote from @Blaine Adams:
Quote from @Allen Frantz:
Quote from @Blaine Adams:

My big goal is to use REI to help propel our family into financial independence (and work-optional) life. I am married and have two kids and we've owned our home here in Fort Collins, CO since 2018. We purchased a local cash-flowing SFR in 2021 (before interest rates increased) which we self-manage since it's so close to home. In 2022, we also made the leap to purchase an out of state SFR in Montgomery, AL, where rental properties can still be found for $100k or less. After having the entire HVAC system stolen 1 week after closing, we have stabilized with tenants and positive cash flow.

I have read many FIRE and REI book and listened to endless podcasts. Now starting to get more involved in Northern Colorado networking meetups and trying to locate below market deals to continue investing local. Also, we want to continue scaling our out of state portfolio into multi-family. Targeting Louisville, KY and continuing our research and hoping to start building local team soon.

Glad to be a part of this great community!


 Hi Blaine,

I’m in the Louisville area and a huge fan of FC and Northern Colorado. We spend LOTS of time in the area and hope to have a place out that way in the near future. I’d be happy to connect and help in any way possible. 

-Allen


 Hi Allen. Are you currently investing in Louisville? Or maybe you have a good handle on the market there? I'd love to discuss details of the area with people that are locale and have an investor mindset.


I have 2 properties just across the river in Southern Indiana, and I'm looking to add SFH to the portfolio. I've lived in the area most of my life, so I definitely know my way around. I'd love to chat when you have a chance.