Wanting to learn more, Newcomer to Real Estate Investment (Small Multifamily)

[George Turner]

Hello! 

My name is George and I'm looking to learn more about the real estate market in and around Denver with a focus on finding a small multifamily property (3-4 units) to live in and rent out the other units for passive income. Professionally, my background is in software sales but my overall goal is to transition full-time into real estate investment / rental property management

I'll be looking to acquire my first property via 1031 at some point this year. My hope in joining this community is to learn more from others with experience, get a better understanding of the real estate / rental market as a whole, learn best practices when considering an investment property, get recommendations on educational material, and make professional connections along the way. At some point I'd love to share anything I learn as well, but very much in the beginning stages of educating myself. 

Anyway, glad that I came across this community and I'm excited to get started!

Cheers,
George

[Steve K.]

Quote from @George Turner:

Thanks all! Yes, 1031 is the option I'm looking at but I see where the confusion is coming from! Left out some details there but in short my sister and I plan on selling some farmland passed down from our father to invest in other assets. 

Definitely a lot to learn still but the advice and outreach so far has been great, really appreciate it!

Nice! If you’re looking g for a great QI for the 1031, @Dave Foster is the best in the biz. I remember a thread from a few years ago on here where he helped someone selling farmland who did a 1031 into MF. I believe they also used section 121 for the house portion of the farm that they lived in, and divided out the income-producing part of the farm for the 1031. Probably made more money on the sale of the land and the house than they ever did farming, sad as that is.