New Investor Questions

[Stephan Fisher]

Hello, I'd like to invest in a small single family (3-4br) in Colorado to get my feet wet in real estate. My brother works at Breckenridge and has plenty of friends who do the same. They lived in a 6 bedroom prior. I was thinking I could buy a smaller home and have them rent it from me. 

Questions below:

Any ideas on best places to look (website / brokers / etc)?

Should I find something that I could renovate / add value? 

Where could I find the best deals, might they be off market?

I plan on using a personal loan from the bank to fund it. Is that a good idea or should save more cash / use another funding option?

[River Sava]

Hi Stephan, welcome to BP!

I would be happy to connect you with my friends/agents/clients out in CO. They mostly do STRs but could be a great resource for you. In terms of renovations, it depends on what you want to do. If you have the time/engagement to househack or flip then I would suggest starting with that and usuing the return for your next proeprty.

Off market deals are great, but I would hop on FB and conenct with an investor friendly agent in the area (I have one if you need one). Also, I would look into private lenders...you might find them easier than taking out a loan from the bank. 

I would be happy to discuss all of this further with you, so feel free to reach out/DM me!