New investor seeking learning opportunity - Denver, CO area

[Andrew Swart]

I'm new to the world of real estate investing and, so far, I've been spending most of my time reading books and analyzing on-market properties. I'm hesitant to pull the trigger and worry that I don't know what I don't know. Would love to learn from an experienced RE investor. I often do best LBD (learning by doing... or shadowing) the intended activity firsthand. Willing to work for you (anything I can do to help) part time for free in exchange for helping me learn how to invest in real estate successfully - strategy, execution, management, even maintenance or construction insight would move me forward!

I'm in the Denver, CO area so someone local would be ideal, even if you have long distance properties. I'm undecided on my exact intended strategy, but likely buy and hold to start with either house hacking, LTR, or STR. Interested in flips, but don't see myself pursuing that in the near term or until I've successfully executed the first strategy.

If you're interested, let's talk! Thanks in advance.

Andrew

[Dan Guenther]

@Andrew Swart welcome to the community! You are in the right place to move from the unknown to a successful real estate investor in no time. Being in Denver you have endless resources not only on this site but also on the ground. There are A LOT of REIA Meetups in Denver and the surrounding areas. Take advantage of these as it's in my opinion the best way to get around others who are already in the mix with most Meetups being very low-pressure environments!

[Lawrence Potts]

Quote from @Andrew Swart:

I'm new to the world of real estate investing and, so far, I've been spending most of my time reading books and analyzing on-market properties. I'm hesitant to pull the trigger and worry that I don't know what I don't know. Would love to learn from an experienced RE investor. I often do best LBD (learning by doing... or shadowing) the intended activity firsthand. Willing to work for you (anything I can do to help) part time for free in exchange for helping me learn how to invest in real estate successfully - strategy, execution, management, even maintenance or construction insight would move me forward!

I'm in the Denver, CO area so someone local would be ideal, even if you have long distance properties. I'm undecided on my exact intended strategy, but likely buy and hold to start with either house hacking, LTR, or STR. Interested in flips, but don't see myself pursuing that in the near term or until I've successfully executed the first strategy.

If you're interested, let's talk! Thanks in advance.

Andrew

Welcome, Andrew! Happy to have you and congratulations on deciding to go into real estate. I think a lot of us when we first got started can relate to what you’ve expressed. I can say that no amount of books alleviated that fear. The biggest catalyst to overcoming them was by doing. Taking action. And I’ve learned the most through being in the thick of it. I’ve had my losses (significantly more losses than wins) but it only takes a few wins to make the whole journey worth it.

I’d encourage you to:

1. Find local REI meetups in Denver and connect with people doing what you want to be doing.

2. Find ways to serve others. Whether it’s getting your tool belt on, helping investors connect with others that can help, or providing a skill, give give give as much as you can before asking for something.

3. Read as much as you can and be obsessed with growth and real estate. Read rich dad poor dad if you haven’t yet.

4. Find an investor-friendly lender that can at least take a look at your financial status and give you an idea of what you can afford so you know what to look for when you’re ready. I recommend @Grant Schroeder! He’s helped quite a few investors in CO, he’s got a number of rental units and he got started house hacking a few years ago.

Best of luck!

[Brittany Guimond]

Hi Andrew! Welcome to the community. I just started investing last year (bought my first duplex and currently house-hacking) and still consider myself new at this, and have already learned lots of lessons. I also learn by doing, so as much as the podcasts and forums have been helpful, nothing has helped me as much as actually doing the thing. I'm in NW Denver — want to meet for coffee? Happy to chat about lessons learned, getting started, etc. If so, shoot me a DM and we'll sync up!

[Alan Le]

Hey Andrew! I think you pointed out a one of the best ways to learn-by-doing -- house hacking. I'm sure you're already familiar with the many benefits so I don't want to belabor it. Many of us also deal with the same plateau of spending time in the "learning phase" and not ultimately pulling the trigger to get started one way or another. I think getting started through house-hacking is an excellent way to get past this hesitancy and taking action; get some experience with renovations, maintenance, finding/hiring solid workers, screening tenants, and you'll find your footing and confidence in RE investing slowly. Good luck!

[Ben Rhodin]

Hey @Andrew Swart! Welcome to BP and sounds like you already have a solid basis from the books and analyzing some deals. As some others have said, don't get stuck in the learning phase too long, it can be a major killer of momentum and getting started. I do appreciate your approach of wanting to shadow someone and get learning that way, but I think it will stunt your growth in the beginning. These investors may not be receptive to taking you under their wing or giving you work and you won't be getting too much out of the relationship as you'll be more on the sideline. Unless you can find a value add proposition to people (Say being a GC and partnering with flippers, or being able to provide capital) then you may be stuck.

I would recommend getting connected with a solid Investor agent here in Denver (there is no shortage, as you have already seen) that is 100% focused on your success and strategizing with you. They will serve as your mentor and guide, and I would recommend getting started in a House Hack. It is a low barrier to entry and lower risk than any other investing strategy. That will be the quickest and easiest learning experience you can get and will get your feet wet in Investing, and then you can scale from there. There truly isn't any replacement to just simply getting out there and doing it.

[Andrew Swart]

Quote from @Dan Guenther:

@Andrew Swart welcome to the community! You are in the right place to move from the unknown to a successful real estate investor in no time. Being in Denver you have endless resources not only on this site but also on the ground. There are A LOT of REIA Meetups in Denver and the surrounding areas. Take advantage of these as it's in my opinion the best way to get around others who are already in the mix with most Meetups being very low-pressure environments!

Helpful to hear that's a good place to start, which I've been trying to do. Thanks!

[Andrew Swart]

Quote from @Lawrence Potts:

Quote from @Andrew Swart:

I'm new to the world of real estate investing and, so far, I've been spending most of my time reading books and analyzing on-market properties. I'm hesitant to pull the trigger and worry that I don't know what I don't know. Would love to learn from an experienced RE investor. I often do best LBD (learning by doing... or shadowing) the intended activity firsthand. Willing to work for you (anything I can do to help) part time for free in exchange for helping me learn how to invest in real estate successfully - strategy, execution, management, even maintenance or construction insight would move me forward!

I'm in the Denver, CO area so someone local would be ideal, even if you have long distance properties. I'm undecided on my exact intended strategy, but likely buy and hold to start with either house hacking, LTR, or STR. Interested in flips, but don't see myself pursuing that in the near term or until I've successfully executed the first strategy.

If you're interested, let's talk! Thanks in advance.

Andrew

Welcome, Andrew! Happy to have you and congratulations on deciding to go into real estate. I think a lot of us when we first got started can relate to what you’ve expressed. I can say that no amount of books alleviated that fear. The biggest catalyst to overcoming them was by doing. Taking action. And I’ve learned the most through being in the thick of it. I’ve had my losses (significantly more losses than wins) but it only takes a few wins to make the whole journey worth it.

I’d encourage you to:

1. Find local REI meetups in Denver and connect with people doing what you want to be doing.

2. Find ways to serve others. Whether it’s getting your tool belt on, helping investors connect with others that can help, or providing a skill, give give give as much as you can before asking for something.

3. Read as much as you can and be obsessed with growth and real estate. Read rich dad poor dad if you haven’t yet.

4. Find an investor-friendly lender that can at least take a look at your financial status and give you an idea of what you can afford so you know what to look for when you’re ready. I recommend @Grant Schroeder! He’s helped quite a few investors in CO, he’s got a number of rental units and he got started house hacking a few years ago.

Best of luck!

 Great advice, thank you!

[Andrew Swart]

Quote from @Ben Rhodin:

Hey @Andrew Swart! Welcome to BP and sounds like you already have a solid basis from the books and analyzing some deals. As some others have said, don't get stuck in the learning phase too long, it can be a major killer of momentum and getting started. I do appreciate your approach of wanting to shadow someone and get learning that way, but I think it will stunt your growth in the beginning. These investors may not be receptive to taking you under their wing or giving you work and you won't be getting too much out of the relationship as you'll be more on the sideline. Unless you can find a value add proposition to people (Say being a GC and partnering with flippers, or being able to provide capital) then you may be stuck.

I would recommend getting connected with a solid Investor agent here in Denver (there is no shortage, as you have already seen) that is 100% focused on your success and strategizing with you. They will serve as your mentor and guide, and I would recommend getting started in a House Hack. It is a low barrier to entry and lower risk than any other investing strategy. That will be the quickest and easiest learning experience you can get and will get your feet wet in Investing, and then you can scale from there. There truly isn't any replacement to just simply getting out there and doing it.

 @Ben Rhodin this is incredibly insightful and helpful, thank you!

[Matt M.]

Forget flips, etc. Just go get pre-qualled and buy a house. Rent out a room and see how you like it. Keep your day job, and in a year, buy another. Rinse and repeat. 

Be careful about analysis paralysis. Looks like your getting close!

Just jump!