Hello BP! Newbie from Greeley, Colorado

[Michael Barone]

Hello BP community!  My name is Michael Barone, and I live in Greeley, Colorado.  I absolutely LOVE the site!  I've listened to 45 podcasts already, and the wealth of information here is amazing!  So, thank you ALL for sharing your knowledge and information!  I look forward to hopefully being at that level of knowledge one day so I too can give back and help others get started.

    So, a little about me...I grew up in Weirton, WV, a tiny town about 35 miles west of Pittsburgh.  My parents have a number of commercial and residential rental properties there, and I started out when I was younger by doing the maintenance on them.  I ended up getting my master plumbers license, and have a thorough hands on understanding of residential electrical, tile, drywall, ect.  When I had my plumbing/handyman business back there I completed 7 bathroom remodels from gut to finish.

     My wife and I relocated 2 years ago to Greeley, CO (which is where she is from) for a job offer in oil and gas.  I originally tried to start my business again out here, but didn't have the capital to live off of until it produced enough income, so I was forced to take a job in oil and gas as well.

     We're looking to settle here and invest here.  Currently, we are looking to purchase our first home, and first rental property as well.  I'm wondering what may be the best way to do that?  We're thinking of trying to have her qualify for our primary residence, and I would try to qualify for our first rental (preferably duplex/triplex or fourplex, but single family would be fine too) under traditional bank financing. (We've already discussed it, and living in one of the units of the rental is not an option.)

     Long term, our goal is to develop a nice portfolio of rental properties that we own free and clear, and can retire on the cash flow.  In the meantime, I would LOVE to get back into the fix and flip type of work as well since I have experience in it, and I like doing that type of hands on work.

     I look forward to connecting with and meeting new people here, and hopefully together we can help each other reach our goals!

[Michael Barone]

Thank you all ( @Austin S.  @Blake Stevens @James Wise @Mark Ferguson @Dmitriy Fomichenko  @Brandon Turner  ) for such a warm welcome!  Absolutely LOVE the podcasts Brandon, Thank You!  I listen all day long in the truck while driving between locations.  And Thank you Blake for the offer to look at a rehab.  That really means a lot!  I'd love to take you up on that sometime if you'd be willing.  And as Brandon would say in the podcasts, I'd be More than happy to buy you lunch:)  Are you doing the work yourself or contracting it out?  Helping to qualify for loans is definitely the plan for keeping the W2 income around for a while, but you got it right with the time commitment of the oil and gas job...for a while it was 50-60 hours per week, but now I've got it down to about 45-50 hours.  I'm trying to get switched to an 8 on - 6 off schedule.  If I can get that, 6 days off in a row every other week would allow me to actually work on a rehab.  I love and miss doing that kind of work, from the plumbing and electrical rough ins, to the finishes like being creative and artistic with the tile designs and complimenting with the right paint colors, light fixtures and finish hardware, ect.  In the beginning, I actually WANT to do whatever work I can myself, but like you said Blake, long term, I Definitely don't wanna be doing the work.  I've been doing the hardcore physical labor for about 20 years now, and honestly, I don't think my back will give me many more.  I'm definitely familiar with, and want to make sure to implement, the "Work ON your business, not IN your business" quote.

     Thank you all once again for the welcome and for reaching out!  I know I'm new and probably don't have much to offer, at least on the investing side of things yet, but if there's anything I can do to help any of you in any way, please let me know.  I'm more than happy to help out.