Hi--newbie from Denver, CO

6 Replies

I'm finally finding time to start learning my way around the website. I've been listening to the podcast for the past couple of months, but have been busy closing on my first investment--a small condo for my primary residence. Now I'm settled in and ready for the next step.

An abrupt and unexpected life change has forced my hand, but I'm hoping to turn it into a good thing by starting up with real estate investing about 8 years ahead of schedule.

I'm still getting an overview of the different types of investing, but I think my personality is far and away best suited to buy-and-hold. I like researching and trying to put together a picture of what might work best for long-term returns.

I'm looking to learn everything I can in the near future, and to start trying to find local deals.

Nice to be here!

Thanks for the message! I see you work in residential and commercial--I think both will be interesting to look at. Right now I"m so new I barely know where to start, so I'd love to gather forum opinions on this idea:

I'm thinking that, initially, I just want to learn how to gather and run basic numbers on some properties. So I thought I'd take a couple of weeks to grab one or two web listings to use as sample "deals". Then start using the BP calculators and researching area rents, etc. to put together some projections. Then I could put my "proposals" up on BP for feedback.

Sound like a good direction to go?

@Heather Nilson welcome to BP! It's a great place to start. Years ago, this helped get me in the right direction for own investing. My first investment was a flip. I made about $25k in north Denver, but realized flipping wasn't for me. Too much stress and too much to scale. Plus it didn't' play to my strengths of understanding finances and playing the long game.

Yes, analyzing deals is a great way to start. Make you take a lot of the national and generic advice on BP about analyzing deals with a grain of salt. The 2% and 50% rules do not work in Denver. But that doesn't mean you should not invest in Denver!

In addition to that, go out to local events to network and learn.

Let me know if you ever want to grab coffee, I'm always happy to chat.

@Heather Nilson welcome. Getting your feet wet by running the numbers is helpful. It can also be helpful to track deals that have sold and closed and see what the local numbers really are. As was mentioned, many general rules of thumb are not too helpful in our current market. Some says that means you shouldn't do a deal but you have to decide for yourself. Poke around at some local meetups and see what other folks are doing and what their numbers are.

@Heather Nilson

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/pro

Alerts can be really helpful too: http://www.biggerpockets.com/alerts

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

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