New Investor in Denver, CO

[William Schloth]

Hi All,

I hope this message finds everyone well during the holiday season!  Time to get those skis out!

I am brand new to Bigger Pockets and real estate and I am moving to Denver, CO at the beginning of the new year (2018).  My near-term goal is to do a "house-hack" in the Denver, CO area within 6 months of January 1, 2018.  After talking to a loan officer recently, my $20K I have saved up will not be enough for a down payment on a house in the area if it is a duplex or more.  I will most likely have a W-2 job within a month of arriving making at least $50,000 before tax (for anyone that knows what loan this will achieve).

Do you guys have some pointers on what the best next steps should be?  A few I can think of are:

1. Search the internet and decide on the exact area within Denver in which I want to buy the house

- wondering what local investors of Denver suggest (websites? agents to call? areas to invest?)

2. Start building rapport with local lenders - again wondering who to start calling? Maybe someone here knows good local banks?

3. Start calling real estate attorney's? Insurance agents?

4. Attend local REIAs once I have arrived in Denver

I am wondering what should be the order of the above because I feel like I need a deal before I start talking to lenders and attorneys?  Again, I have very little idea of what I am doing but would love some feedback.  

Thank you all and thank you to Josh for starting these forums,

Billy Schloth

[Chris Lopez]

@William Schloth The advice from the previous people is right on.

Talk with @Jared Bouzek . He's a local lender who knows his stuff

Do you have income from where you live now? One option is to use your current your income to buy a second home in Denver. You'll still get very favorable terms (I think it's within 1/8 percentage point). Of course, you need to know where you want to live to buy long distance.