New member: Castle Rock (near Denver), Colorado

New member: Castle Rock (near Denver), Colorado

Castle Rock, CO · Member since 2017 · 7 posts · 8 votes

Hello BP community.  It's great to be part of this amazing group.  My name is Brian Nopper, currently living in Castle Rock, Colorado which is located south of Denver.  I am a retired USAF officer/pilot, currently working (way too hard) as a Sales Engineer in the oil and gas business and stock options trader.  I currently have two single family rental properties in Oklahoma, but I am really new to real estate investing.  

I am very determined to build a large real estate portfolio with passive cash flow. My intent is to focus on single and multi-family properties, but I am open to other strategies as well.  

I am diving head first into podcasts, blogs and books to learn.  It's a bit overwhelming and I appreciate any guidance or recommendations on how to best navigate this education.  I attended my first local meetup last night in Denver and it was outstanding.

I am blessed to be part of the community and look forward to absorbing as much as possible and giving back as much as I can.  

Cheers! 

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Lender · Denver, CO · Member since 2015 · 404 posts · 227 votes
9y

@Brian Nopper Welcome to Bigger Pockets. I live in Castle Rock as well and have a background in O&G as a drilling engineer. Sounds like you've already got some REI experience under your belt.

You are correct that the VA loan cannot be used for rental properties. You must occupy the property as your primary residence for a VA loan, so you would have to be willing to move into the property and then convert it into a rental down the road.

Good luck with your investing.

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  • Veni F.Pro Member
    BiggerPockets Support · Los Banos, Laguna · Member since 2017 · 320 posts · 99 votes
    9y

    Welcome to the BiggerPockets family @Brian Nopper! I have listed some helpful recommendations for you:

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

    Find upcoming real estate events: https://www.biggerpockets.com/forums/521-events-and-happenings

    Forum and Blog rules: https://www.biggerpockets.com/rules

    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.

    Welcome aboard!!!

    BiggerPockets
  • Real Estate Investor · Oklahoma City, OK · Member since 2012 · 81 posts · 20 votes
    9y

    Welcome.

    Do you plan to continue to invest in Oklahoma or will you be investing in Denver primarily now?

  • Castle Rock, CO · Member since 2017 · 7 posts · 8 votes
    9y

    @Rob Powell I will be looking for opportunities nationwide so I will likely continue to invest in OK as well.  

  • Real Estate Investor · Oklahoma City, OK · Member since 2012 · 81 posts · 20 votes
    9y

    Awesome!

    If I come across a great deal do you mind if I contact you with it?

  • Castle Rock, CO · Member since 2017 · 7 posts · 8 votes
    9y

    Yes Edward. That would be great, thanks. 

  • Bill S.Pro Member
    Moderator
    Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
    9y

    @Brian Nopper welcome. In addition, (as if you didn't already have enough to study) I would suggest you work through the Ultimate Beginners Guide (look under the education tab for Guides - at least that's where it is today). 

  • Chris LopezPro Member
    Real Estate Agent · Denver, CO · Member since 2015 · 1k+ posts · 858 votes
    9y

    @Brian Nopper Welcome to BP! 

    I've learned a lot the last year by setting up keyword alerts that are sent via daily digest email. Usually, I just scan the posts while having my coffee in the morning. Great education by just scanning the forum posts.

    Do you have a strategy yet? House hack? buy and hold? in-state or out? Or just whatever opportunities pop up?

    Not sure of your situation... but you could use your VA benefits for a low or no down payment for house hacking or buy, live in for a year or so, move and rent it out.

    I'm assuming since you're retired USAF, you have connections around the country. Any good connections or trustworthy connections that would allow for long distance investing?

    Chris

  • Castle Rock, CO · Member since 2017 · 7 posts · 8 votes
    9y

    @Bill S. thank you for the welcome.  I have printed the ultimate guide and started digging into it last night.

  • Castle Rock, CO · Member since 2017 · 7 posts · 8 votes
    9y

    @Chris Lopez thanks for the welcome.  My current strategy is buy and hold single and multi-family, both in and out of state.  I haven't narrowed down the out of state locations yet but I'm learning toward OK and TX.   

    I have the money to invest but I'd like to use as much OPM as possible...just not sure how to do that yet. I'll check in to the VA benefits as well. I have one rental property with a VA loan already because I used to live in that house. I don't believe you can use a VA loan for investment properties but I'll look into it further.

    I do have a lot of connections nationwide that I could reach out to, at least one who is an investor also.  

    Thanks for reaching out.  I'll get some alerts set up.  This is such a great resource.  Cheers!

  • Lender · Denver, CO · Member since 2015 · 404 posts · 227 votes
    9y

    @Brian Nopper Welcome to Bigger Pockets. I live in Castle Rock as well and have a background in O&G as a drilling engineer. Sounds like you've already got some REI experience under your belt.

    You are correct that the VA loan cannot be used for rental properties. You must occupy the property as your primary residence for a VA loan, so you would have to be willing to move into the property and then convert it into a rental down the road.

    Good luck with your investing.

  • Investor · Front Royal, VA · Member since 2013 · 586 posts · 418 votes
    9y

    Hey @Brian Nopper - congrats on making the jump into real estate investing. Let me know if you ever want to grab coffee or talk strategy. 

  • Chris LopezPro Member
    Real Estate Agent · Denver, CO · Member since 2015 · 1k+ posts · 858 votes
    9y

    @Brian Nopper - Definitely work those connections! @Charles Roberts and I met with some new investors last week. They live in Denver, may be moving out of state next year for work, but want to invest. While we were talking, they mentioned that their step dad is active flipper out of state (I think Cleveland) and tuned into the market. 

    Ding ding! 

    While I would have loved to have helped them buy property in Denver, it's too good of an opportunity and trustworthy connection for them to pass up. 

    While you're learning, definitely start catching up with people. 

  • Castle Rock, CO · Member since 2017 · 7 posts · 8 votes
    9y

    @Luke Miller thanks for reaching out.  I'll send you a message and perhaps we can get together.

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