Looking for a Multifamily Mentor for upcoming 1031 tax exchange Colorado

[Chris Reyes]

Hey FB family! I'm currently in search of a mentor who can serve as a valuable resource in the upcoming year. The aim is to acquire an 6-10 unit apartment complex within the next year in Colorado. 

The funding for the investment will come from a 1031-tax exchange in the amount of $400k for the down payment and estimated 80k-100k for renovations. 

We are looking to get a COC return between 7%-10%. We plan to concentrate our efforts on direct mailing to find off-market opportunities. I kindly request the guidance of an experienced individual to help kickstart our multifamily investment journey. I understand your time is valuable so any why that I can add value to your endeavors, I would be honored to give my help.

Background: 

I personally have been in real estate since 2015 and had had three houses, two rentals, and one primary. I sold off the first house in 2020 and have another rental that I've had since 2018. We live in our primary but we plan to rent it out within the next year. 

My wife and I are self-employed and work with an independent mortgage company. She has the MLO license and I am an assistant along with managing the rental property investing.

The silent investors we have our family members. They have been in Real Estate for 30+ years, have two rental properties paid off and almost their primary residence paid off as well. They agreed to sell one of their properties (in 1031 tax exchange) to use as a down payment for the apartment complex while we use the sale of our rental as renovation money. 

Thank you in advance for your help and looking forward to learning from your journey into multifamily investing!