Newbie from Denver, CO

Newbie from Denver, CO

Scott TrenchPro Member
Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes

Hello Everyone,

My name is Scott Trench and I have a very limited background in Real Estate Investing, having worked a few months for an investor several years ago. I just moved here from my hometown near Baltimore, MD, after graduating from Vanderbilt University last May. I currently work in Financial Planning and Analysis for a large company.

I am hoping to begin building a Buy and Hold Real Estate portfolio of properties within 100 miles of Denver over the next several years. BiggerPockets has played a big part in my Real Estate education. Currently, I have made my way through most of the BiggerPockets podcasts, I have read the Ultimate Beginner’s Guide and relevant links, and I have begun networking by joining a mastermind group, several members of which are involved in Real Estate Investing in the Denver area.

At this point, I have saved enough money to qualify for conventional financing on properties priced at or below $200K. My short term goals are to make bids in the areas that I have conducted rent surveys in near downtown Denver, with the objective of procuring 3 properties by the end of the year (my second property purchase is planned to be a Duplex and I plan to live in half of it).

I’d love to continue meeting investors, agents, wholesalers, and anyone else that would be gracious enough to pass on their knowledge. I hope to give back to the community as I begin making transactions and building a portfolio.

Thanks,

Scott

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Brandon TurnerPro Member
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y

Hey @Scott Trench welcome to BP! I'm glad you're listening to the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.

Also - here's a couple articles you might enjoy:

The 21 Best Real Estate Investing Books Ever

How to Rent Your House: The Definitive Step by Step Guide

How to Be a Landlord: Ten Tips for Success

See you around the site!

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  • Denver, CO · Member since 2012 · 218 posts · 48 votes
    12y

    Welcome from a Denver developer/broker.

    BiggerPockets is a wealth of information, and the local networking the site provides is great as well.

    Happy to help anyway I can.

  • Rental Property Investor · Phoenix, AZ · Member since 2014 · 71 posts · 20 votes
    12y

    Welcome to BP! We are not active wholesalers in Denver, but If I come across any solid recommendations I will pass them on to you. Good luck!

  • Realtor · Shreveport, LA · Member since 2012 · 311 posts · 58 votes
    12y

    AccountClosed... Great to have another Shreveport native joining the BP community. I'm just curious to see how you can help other investors such as @Scott Trench . I firmly believe that BP is about helping others succeed and not trying to do any shady dealings. I would love to know a little more in depth information about you. As an investor in Shreveport/Bossier I am curious. Great to have you on the site Johnny and look forward to you going into more detail.

    Scott. Keep us posted on your success and network with other local investors, participate on BP and ask questions. Welcome to the community!!!

    Michael

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    12y

    @Scott Trench welcome to the site.

  • Rental Property Investor · Bossier City / Shreveport, LA · Member since 2013 · 34 posts · 7 votes
    12y

    @Scott Trench Welcome to the community! You sound like you have your head on straight and will do well. I am curious, did you conduct your rental survey yourself or did you hire it out?

    @Account Closed Welcome to the site fellow Shreveport-anian.

  • Scott TrenchPro Member
    OP
    Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
    12y

    Jeff,

    I gathered rent data informally in several locations from various sources:

    Friends living in these areas

    Driving around the neighborhoods and asking about rent prices on properties for rent

    Rentometer.com + Zillow.com + Craigslist.com

    In the coming week or so, and depending on the specifics of what becomes available, I plan to purchase reports from sites like rentrange.com to have more data points. I may also door knock.

    Thanks for the welcome!

    -Scott

    Also - for future reference how can I insert the "@Jeff M." in posts to ensure that you are notified of my reply?

  • Real Estate Investor · Cypress, CA · Member since 2013 · 877 posts · 94 votes
    12y

    @Scott Trench Hey Scott welcome to BP.

  • Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
    12y

    Hey Scott, welcome. I might hit you up for some of those rental trends, and I'll keep you on my duplex watchlist. I see them but most of my owner/occupier buyers just don't understand the beauty of buying one.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    12y

    Welcome to BP community @Scott Trench, you came to the right place to learn all about real estate investing! Here are a few recommendations for you:

    Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alerts

    Read Beginner’s Guide http://www.biggerpockets.com/real-estate-investing and check out BP Podcast.

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best!

  • Realtor · Shreveport, LA · Member since 2012 · 311 posts · 58 votes
    12y

    All you do is @ and start spelling persons name. A list of choices will appear towards the bottom of the dialogue box, sometimes taking a few seconds to process. Scroll down to the appropriate person and the @Name will become highlighted further notifying that individual someone has mentioned them in a post.

    @Scott Trench

  • Scott TrenchPro Member
    OP
    Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
    12y

    Thank you!

    @Michael Faulk

    @Michael Faulk

    @Dmitriy Fomichenko

    See what I did there?

  • Realtor · Shreveport, LA · Member since 2012 · 311 posts · 58 votes
    12y

    awesome.... great teamwork :)

  • Bill S.Pro Member
    Moderator
    Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
    12y

    @Scott Trench If you need rent information for the Jefferson Park area. (West of downtown on the other side of I25 just North of the stadium) let me know and I can forward some information that I got from a local apartment broker that was trolling for listings and building his client list by putting together a rent survey.

    Keep us posted on how things go for finding a place for under $200K in the downtown Denver area. The current market is very competitive.

  • Renter · Denver, CO · Member since 2008 · 6 posts · 0 votes
    12y

    @Scott Trench - You share a similar story as I. I live downtown Denver and recently became interested in a buy/hold portfolio. Would enjoy syncing up and learning what areas your scoping. I have an eye on north of Five Points.

  • Renter · Denver, CO · Member since 2008 · 6 posts · 0 votes
    12y

    @Scott Trench I also found this post useful in hearing how people got started:

    http://www.biggerpockets.com/forums/12/topics/3037-how-did-you-start-

  • Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
    12y

    @Royce Haynes I love the Five Points / RiNo area and surrounds. I'm also a fan of some West areas that are getting a lot of attention. I'd love to connect with you and @Scott Trench as well. Coffee gentlemen?

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Scott Trench welcome to BP! I'm glad you're listening to the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.

    Also - here's a couple articles you might enjoy:

    The 21 Best Real Estate Investing Books Ever

    How to Rent Your House: The Definitive Step by Step Guide

    How to Be a Landlord: Ten Tips for Success

    See you around the site!

  • Milwaukee, WI · Member since 2013 · 192 posts · 13 votes
    12y

    Hello welcome to BP! Sounds like you're off to a great start. The community here can definitely help you navigate the REI waters. The information I've got from fellow members has been invaluable.

    See you around the sight!

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