New Investor in Denver Colorado

[Aaron Holderman]

Hey all, new BP forum member here in Denver, CO. I'm a real estate investing total rookie doing research into a first deal. My current real estate gameplan is to long-distance BRRRR a property. This strategy appeals to me mainly because of the high cost of real estate in the Denver area. My hope is that doing a few deals in a lower cost market would allow me to learn and build a portfolio that would eventually allow me to invest more locally. My wife and I both grew up in the St. Louis, Missouri metro east area so I have been considering that as a market. I'd love to hear some thoughts on this and meet some forum members!

[Craig Curelop]

@Aaron Holderman - BRRRRing out of state is definitely a great way to build wealth. You need to make sure you have a stellar team wherever you invest. There is a lot of risk when it comes to investing out of state. Typically you have a lot of money tied up and you're paying high interest on it. So you don't have much time for bad contractors, bad agents, bad lenders, etc. 

BRRRRing in Denver (or any expensive city) is next to impossible to actually pull out a significant portion of your money. However, if you get creative in Denver, you can definitely cash flow pretty good while experiencing some good appreciation!