Spinning my wheels in Colorado Springs

[Dan Host]

Hi BP,

I'm writing this post because I'm neck deep in analysis paralysis and trying to claw my way out. I've been researching REI for well over a year now. I've gotten my brokers license (just got my MLS access a couple of weeks ago). Now that I have all my information compiled, I should just have deals falling into my lap, right? (Kidding, of course).

Who in the Colorado Springs area is investing successfully at this time? What kind of strategy are you using? I know deals are hard to come by on the MLS right now, but is anyone having any luck with MLS deals in this area right now?

My plan is to run a combination of buy and holds, as well as flips. Ideally, I'd like to find a flip or two first, then use the proceeds from those to help fund a buy and hold, then use the BRRRR method if necessary...then rinse and repeat.

I have a day job with decent pay (but I'd love to quit), good credit score (800+), some money in liquid savings, not a TON, but enough for a couple down payments on modest properties.

Anyone have any advice? I'd love to chat with any locals who are actually doing this successfully. Can I pick your brain? Is there anything I could do to help you in your business that may give me an opportunity to learn along the way? 

I look forward to hearing any ideas, critiques, complaints, etc. I'm all ears!

[Norberto Villanueva]

@Dan Host - welcome to BP and the world of investment real estate. Seems you got licensed for your own investing which some are doing successfully, in spite of certain limitations. 

I suggest hanging your license with an investor focused brokerage to view transactions through an investor's perspective, seen best through a jeweler's loupe than the consumer's lens. A retail broker for the major part of my licensed career, I've learned more since accomplishing that than in all 14 years combined. Also, become knowledgeable with deal structuring and finance so you are more a problem solver than most...success will follow.

All the best!