New Income Investor from Colorado Springs

New Income Investor from Colorado Springs

Military · Colorado Springs, CO · Member since 2015 · 7 posts · 4 votes

Hey everyone, my name is Daniel Wolcott and currently enlisted in the Air Force stationed in Colorado Springs. I received my degree in finance and accounting from the University of South Florida prior to enlisting.  I have been intrigued by real estate for many years but I am slightly ashamed to say I have never had the courage to start investing.  I guess I am enlisting to Abe Lincoln's motto of "Give me 6 hours to chop down a tree and I will spend the first 4 sharpening the axe." I have spent many years reading investing books, taking real estate classes and enrolling in real estate seminars but yet no I have not taken the most important step of taking action.  I even convinced my wife to start a career in real estate so I could live vicariously through her.  She has achieved great success as a realtor in Colorado Springs and has re-inspired my ambitions of investing in real estate. 

I now have the financial security/confidence to take action and I am looking to start investing in income properties, preferably multi-family homes.  My goal is to have one income property by the end of the year and start finding at least 4 properties per year in the following years. 

I also have interest but limited knowledge in flipping houses and investing in notes.  

1Reply
33 views

Investor-friendly agents in Colorado Springs, CO

See the agents BiggerPockets members work with in Colorado Springs, CO.

12 Replies

Jump to latestLatest
  • Investor · Colorado Springs, CO · Member since 2015 · 24 posts · 1 vote
    11y

    Welcome Daniel!  Sounds like you knowledge base is vast.  Best to you for much success in Colorado Springs. My husband and I are building our foundation and hope to be in action soon as well.

  • Rental Property Investor · Centerton, AR · Member since 2014 · 54 posts · 28 votes
    11y

    Welcome to BP! Sounds like you are starting the right way by getting a good knowledge base. Look into buying your primary residence at every base you PCS to throughout your career; it's a great way to build a portfolio, especially with your VA loan.

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Daniel Wolcott

    Welcome to Bigger Pockets. Make sure to check out all the informative podcasts.

  • New to Real Estate · Colorado Springs, CO · Member since 2015 · 125 posts · 86 votes
    11y

    Welcome, @Daniel Wolcott! I just PCSed to Co Springs myself a few months ago and have already purchased one property and am currently under contract on my second. Rent prices seem to have been on the rise here which is good new for investors! There's also a constant supply of potential tenants with all the bases in the area. Feel free to shoot me a message if you have any questions or want to connect.

  • Bill S.Pro Member
    Moderator
    Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
    11y

    @Daniel Wolcott welcome. The best way to overcome inaction is to take action. Make some offers.

  • Real Estate Investor · Houston, TX · Member since 2015 · 269 posts · 31 votes
    11y
    Hi Daniel, first off thank you for service to our country! Man I appreciate you brother!! I invest in notes and have some available, I would be glad to have a conversation with you. (post edited to remove contact info)
  • Investor · Colorado Springs, CO · Member since 2014 · 40 posts · 2 votes
    11y

    @Daniel Wolcott, Welcome to bp. Are you looking to invest locally? Depending on how much time you have left in the springs before you pcs again, a good way to get started is to house hack or live-in flip. Rent prices in the springs aren't great for supporting cash flow, but those other two options fit the fast moving sfh market. You won't find many great flip opportunities on MLS out here unless it is an REO. You may want to start there or get networked with a few wholesalers.

  • Lender · Denver, CO · Member since 2009 · 1k+ posts · 597 votes
    11y

    @Daniel Wolcott Welcome and thank you for your service. Colorado Springs is a good market for new investors. Keep an eye out for the local networking the meetings in the area.

  • Investor · Littleton, CO · Member since 2015 · 8 posts · 1 vote
    11y

    Yes, I do go to their meeting. Mike Jakes, ICOR, went on their cruise, etc. I am the one wearing the crown for "All  ROYAL  Properties" I have called Pine and Pine has good meetings, too.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    @Daniel Wolcott

    Welcome to the BP family! You came to the right place to learn all about real estate investing! Here are some 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

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

    Wishing you the best!  

  • Military · Colorado Springs, CO · Member since 2015 · 7 posts · 4 votes
    11y

    Thank you all for the forum response all your messages were very welcoming and informative. I look forward to connecting and possibly working with many of you. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.