New Potential Investor from Colorado

[Rhonda Cruz]

Hi, my name is Rhonda and I am currently learning as much as I can about Real Estate Investing by using the many resources available on BP, as well as, reading quality real estate books recommended on this site.I want to understand as fully as possible the risks and rewards involved when purchasing rental properties.My husband and I have discussed obtaining buy-and-hold properties several times in the past.However, due to lack of knowledge and a fear of financial ruin, we never moved forward with the idea.

I am originally from Oklahoma but have been living in Northern Colorado for almost 13 years (Longmont for 11 & Berthoud for 1 1/2). I work as a Sales Programs Analyst; but have varied experience including over 10 years in Payroll and Payroll Tax.

I am open to other options but find that I am most interested in multi-unit properties ranging from duplexes to small apartment complexes of 50 or less units. My current goal is to own 10 to 20 units within the next 10 years. I would like to eventually have sufficient passive income to allow the choice to retire from a W2 job someday.

With my very limited knowledge, I am beginning to think that investing in Colorado will be quite difficult, if not, impossible.This leaves us contemplating investing out of state; possibly in Oklahoma or Texas (or somewhere else).This presents its own special set of opportunities and challenges.I have a lot to learn and over time I suspect my goals will evolve. I look forward to learning from all of you and hope to eventually be an asset to the community.

Thanks for reading and have a fabulous day!

[Dan Mackin]

Welcome Rhonda.

Come down and join us at the Erie meetup in April. A few folks invest out of state and could give you some good info. 

https://www.biggerpockets.com/forums/521/topics/292694-north-denver-erie-colorado-april-20th-meetup-4-20-2016