Hello! My name is Ashton

[Ashton Moore]

Hello everyone I'm new to real-estate investing, although I have been following BP and other groups on YouTube and listening to books I'm no longer a minor so I can do "Adult Things" like buy a house! lol A little about myself... I live in the Colorado Springs area and would like to start investing in multifamily homes. I don't have much capitol so ill be using a FHA loan and refi after a year. Originally I wanted to become an Olympic Hurdler then Astronautical Engineer but before all that college i was going to go into the Airforce. After a lot of thinking of my own and not what I think everyone else wanted me to do i decided I'm in love in Investing and real estate its all I ever talk and think about. Olympics is still a dream I want to pursue though. I'm extremely motivated and love to learn and share the knowledge i have currently and the stuff ill pick up along the way. Multifamily prop's interest me the most, i couldn't really tell you why but i do. I've read the following books: Rental Property Investing by Brandon T., Rich dad poor dad by Robert K., Think and Grow Rich Napoleon H., Fake Robert k., The intelligent investor Benjamin G., Increasing your financial IQ Robert K., 12 months to 1 Million Ryan M., No and low money down Brandon T., your next 5 moves Patrick D., How to invest in Real Estate J.D and B.T. and currently 7 habits of highly effective people by Stephen C.

Thank you and i hope to meet as many of you as i can!

[Ben Rhodin]

Hey @Ashton Moore, welcome to the forums! I applaud you for taking a step back and evaluating what you truly want out of life, and I think you will find having the groundwork of investing will help you achieve all your other goals!

Was the path of going into the airforce a decision pushed on you or were you heading that way for yourself? The reason I ask is that after some commitment you would be eligible for the VA Loan which would allow you to do 0% down on a property. Just a quick thought, but if it's not something that drives you I wouldn't commit just to have access to it.

While Multifamily properties are the typical and traditional way to house hack and build wealth, we have found that in Colorado and the Denver area specifically, they have some pretty big cons. Primarily that most of the multifamily properties here are overpriced, old, and usually pretty run down. So they typically require quite a lot of capital to update and maintain, as they are typically being offloaded by investors who've owned them for many many years and are now at a point where they aren't worth keeping. You will also usually not be able to achieve living for free with them due to the prices. 

There are plenty of other avenues to take to house hack, and achieve living for free here in Colorado. My favorite being turning a single-family into either a two-unit or more. These achieve the same benefits as multifamily properties, but you don't have to pay the increased prices!