New Colorado Real Estate Investor

New Colorado Real Estate Investor

Fort Collins, CO · Member since 2015 · 3 posts · 1 vote

Hello Everyone!! 

Especially to those who are on BP on a Sunday afternoon/night...

My name is Paul Graham. I'm a Colorado native who enjoys learning and reading about business, among other things. I currently am finishing my undergraduate degree in Management and Supply Chain Management at Colorado State University in Fort Collins, CO and will graduate in December of 2015 (Yay to graduating in 3.5 years!). I work full-time for a software company that has created a fantastic CRM/Deal MGT solution specifically for Commercial Real Estate brokers and absolutely love it. Although I've been very fortunate to have a full-time salary + commission job before I've even graduated college (I only have 9 credits this semester), I'm not fully satisfied. 

I enjoy the side hustle and therefore, I'm joining BP to first learn, second develop strategy, and lastly execute on my vision in 3-6 months to create a real estate portfolio on the side to eventually manage full-time. My vision in real estate is a little cloudy but more information will help me paint a better picture. I know I want to own multi-family property and at some point have my own house (house hacking comes first!!). I live in a college town and would like to start investing here so I'm developing a strategy to take advantage of the booming appreciation rate in Colorado and the influx of a bigger student population over the next 3-5 years. 

I'm looking forward to reading the forums about other college town investors strategies or ideas and learning how people like you are doing great things in real estate! Below is a link that I think many at BP should watch, it talks about the difference between those who make a little vs. a lot of money and it all comes down to something to prove. What are you trying to prove or accomplish with REI?

Thank you for reading! I'm excited to read your responses and I would be happy to connect with anyone who would like to chat. 

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  • Investor · Longmont, CO · Member since 2015 · 17 posts · 3 votes
    10y

    HI Paul,

    Hunger and drive is the what will allow you to create opportunities for yourself.  If you would be interested in having a conversation about real estate I would love to speak with you.  I'm down in Longmont.

    Sincerely,

    James Holman 

  • Fort Collins, CO · Member since 2015 · 3 posts · 1 vote
    10y

    Looks like the link was removed. Here it is again for those who are interested. http://www.businessinsider.com/barbara-corcoran-real-estate-salaries-2014-4

    @James Holman sounds great! I travel by Longmont quite a bit driving up and down I-25 for work or on the weekends. 

  • Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
    10y

    welcome! I am in Greeley not too far away. 

  • Investor, engineer · Longmont, CO · Member since 2013 · 55 posts · 36 votes
    10y

    Hey Paul,

    I am relatively new to real estate (just buying my third house now), but I would love to chat with anybody here in Northern CO. I am in Longmont. 

  • Real Estate Agent · Longmont, CO · Member since 2015 · 47 posts · 6 votes
    10y

    Welcome to BP Paul!  This is a great place to learn.  

    Sean

  • Investor · Juneau, AK · Member since 2015 · 980 posts · 741 votes
    10y

    Really like the focus and thought behind your post, Paul! I think it bodes well. Part time landlording has been a worthwhile part of my professional life (often my favorite part)... While I don't focus on students, I almost always have one or two. But mine tend to be more nontraditional students that are more mature and year round, often working (like you!).... That is about my only advice.... There are a range of great renters around colleges that don't leave in the summer and aren't teenagers that reenact scenes from Animal House or Neighbors (2014, the film with Seth Rogan). I'd aim for them (think broadly to also house staff, faculty, grad students, nontrads, even employees of the university)

  • Lender · Denver, CO · Member since 2015 · 275 posts · 35 votes
    10y

    God I wish I would have started doing this when I was...What 22?

    3.5 years sounds like a go getter,

    Good job!

  • Flipper/Rehabber · Conyers, GA · Member since 2015 · 182 posts · 26 votes
    10y

    @Paul Graham welcome the biggerpockets. EVERYTHING you will ever need to know can be found here, just look and ask questions. Good luck and when you plan on coming to Atlanta, look me up. 

  • Fort Collins, CO · Member since 2015 · 3 posts · 1 vote
    10y
    Originally posted by @Michael Boyer:

     I'd aim for them (think broadly to also house staff, faculty, grad students, nontrads, even employees of the university)

     Michael you are correct! I think a lot of times investors buy property and put anyone who can pay in their properties. I've been listening to lots of podcasts and reading some information on those in college towns and although location is great, having great tenants that don't cause any hassle for the investor makes all the difference!

  • Real Estate Agent · New Castle, CO · Member since 2014 · 84 posts · 36 votes
    10y

    Hi Paul!

    As a recent CSU grad myself, welcome to BP! It's a great site for all levels of investors. It's incredibly important to focus on your niche. There are a lot of people who don't like the idea of renting to students, but it can be incredibly lucrative! (Think parent cosigners, bulletproof rental agreements and a firm hand). But since you are thinking about Fort Collins, please do not dismiss the U+2 law. It's a big source of contention and can carry harsh penalties. 

    Systems are your best friend in this business! I'm an agent at coldwell banker as well as an investor, so let me know if you would like to meet up and talk about our local market! 

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