Getting Started in Southern Colorado (???)

[Nathan Doan]

Hey BP folks!

My name is Nathan Doan and I've lurked long enough - time to get more involved!

I'm (maybe?) looking to buy my first investment property soon. I never considered it until I sort of accidentally read a book from the library about Real Estate (I was just trying to read 8 books in a month to get a free coffee mug as part of their Adult Reading promotion). So you could say, I didn’t find Real Estate Investing, Real Estate Investing found me. :)

My buddy Mike W. turned me on to Bigger Pockets and about 50-60 hours of reading forums/blogs/articles and listening to the BP podcast later I'm thinking maybe it's time to jump in.

I'm looking at buy-and-hold single-family-home rentals in Pueblo, CO. Here's what I'm looking for:

1. Property that is nearly rent-ready (I possess zero home improvement skills)

2. Property that has at least a 1.5% rent to purchase ratio (seems like 2% properties need a lot of rehab but maybe I'm not looking hard enough??)

3. Property that is not more than $35k (housing is cheap in Pueblo!)

I'm going back and forth between feeling like I should just go for it and feeling like I should learn more before I make a huge mistake.

Last of all, I want to say a huge THANK YOU to everyone who has contributed on this site. I'm blown away by the spirit of this community. If I ever achieve success in real estate investing, it will be thanks to YOU!