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Drew Gorman
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New Investor; Looking for Advice

Drew Gorman
Posted

Hi everyone, I'm 22 and just graduated from CU. I've been listening to the podcast every day for a few months now (new and old episodes) and have gotten a pretty decent understanding of the different paths you can go down. 

I have a 9-5 but am interested in beginning my real estate portfolio (slow BRRRR method). I have around 45k in capital and a trusted partner who is willing to match my investment. I'm looking to invest in the Denver area to keep it local but I'm not sure about the market. Does anyone have any experience in the area that can give some advice:

1. Is it a good idea to be looking for investment properties in Denver right now (I realize it's not great currently but is it outright a bad idea or is it just harder to find good deals)? If no, is it risky to try and BRRRR out of state, especially as a first time?

2. Is 90k enough capital to do a successful slow BRRRR currently in the area I'm looking?

3. What would you do if you were in my position? 

 The end goal is to build passive income for the future but, obviously, I'm on the younger side so I don't need to be super aggressive, just looking to get started. I have my license but I'm still new to the real estate world so if anyone has any advice on this or is looking to connect, let me know. Thanks.

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Remington Lyman
#5 Classifieds Contributor
  • Real Estate Agent
  • Columbus, OH
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Remington Lyman
#5 Classifieds Contributor
  • Real Estate Agent
  • Columbus, OH
Replied

I think finding a good mentor and also doing a house hack would be a good start 

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