All Forum Posts by: Wesley Jeanette

As Ryan said it isn't a quick process especially if you want to have a low risk option. Going out and buying a property or two in cash likely wont get you very close to being able to just quit your job. If you were getting 10% on your investment (all cash) that only comes out to 25k a year. However, in real estate you can take advantage of leverage and if you take your time and learn you can make that 250k go a lot further.

Another quick thing that many people will add is having a W-2 job makes a ton of things in real estate significantly easier, like getting loans from banks.

Ali beat me to it :)

Tom Ahrens at Eide Bailly in Fort Collins, might be a bit too far North for you. I talked with him earlier this week and he pointed out some things I missed on my return last year, didn't use a CPA last year. Talked a lot about future planning and real estate goals. I have known him for a decade now but up until this point never thought I needed a CPA. Highly recommend him as an individual and a CPA.

@Max Allendorf Welcome to BP. Great place, tons of information and awesome people here. You mentioned wanting to get into fix and flips and rent out multi family. I would suggest you check out the BRRRR strategy if you haven't already. Brandon did a webinar a few weeks ago on it and it is all over the forums. I think it would likely meet all of the things you are looking for.

As for private lenders, look to friends, family, and co-workers. You might be surprised at how many people you know that have a bunch of money sitting around and are willing to lend it at a modest interest rate for a short (year) period.

I am also very interested in where this is and how it is going. Also you should have made offers on both :)

@Kellie Alkayam Welcome to BP. I too am relatively new here and have been loving it. There is so much info on here and it has helped me that BP is located in Denver. It is so easy to get distracted by the shiny objects when listening to the podcasts but when you listen to one of the Denver folks talk about a deal from here it inspires me to go out and find them, because they are here too. 

I would also highly recommend some of the webinars, they do one or two a week and I have learned a ton from them. And check out the awesome calculators on the site for analyzing deals.

Again welcome, it is an awesome community.

This is very interesting, just started the process myself with the local credit union I have my mortgages through. I'm looking at 5.25%. Will continue to watch this thread.

@Chris Mason thanks for that chart.

I was running into the same thing with a triplex in Tucson so this thread has been very helpful. Rather frustrating considering I want to put as little money down as possible ha.

I am very new to all of this too and I may be completely wrong on this so someone please chime in if that is the case. I think everyone starting out gets hung up on getting a killer deal and then never does anything cause they can't find one. 

Your end goal is flipping and you want to learn, I think just doing is the best way. Find yourself something where the numbers kind of work from a wholesaler. Something that is going to be a smaller project, even something that after running all of the numbers you only make a few grand. Then start the project, and heck no one wants to lose money but if it ends up costing you a few grand when it's all done I would consider that a worth while investment in education and yourself. You will have learned an insane amount through the process, have your first flip under your belt, and know all of the things you have to do the next time. It will also provide you with a ton of concrete questions to ask on the forums and give you a lot of lessons/knowledge you can share with other members.

Again, my investing experience is limited as I am very new to all of this and I don't have any actual experience in flipping.

@Khalid Powell that is awesome. I was in North Carolina for the first time two weeks ago and loved it. We went out to the Crystal Coast (which I loved but a bit $$$) but the day we spent in Raleigh/Durham I was thinking how do I invest down here. I loved all the trees in the city and the vibe. I hope you stay active on BP and maybe I can learn a lot more about the area through your posts.

That is awesome, love the floors.