New member and Investor in Colorado

[Matt Grace]

Hello BP! I joined today and am impressed with the wealth of knowledge on here. I am excited to hopefully learn or work with some of you. My goal is to buy my first property this year. I am thinking OKC or FL as Colorado is booming and I'm not sure my backyard will be easiest to cash flow. I am definitely a newbie but I look forward to building a team and meeting smart people. I am sure this something I want to do and hopefully I can teach others one day. Cheers, Matt

[Michael Lee]

Hello and welome to BP!  I only know what I have been told about Colorado.  It is my understanding that there are around Denver that are less expensive houses within a two hour drive.  If I was thinking about investing out of state I would probably buy from a turnkey company like Memphis Invest, who have rental single Family homes in Dallas Texas and Memphis and will take care of by doing everything.  They have about 600 homes and the minimum investment is around 30k. And they are helped by Chris Clothier, who is on BP every day.  That is the only way to live with out of State investing because it is far away.  Today's inventory is low and that has driven up the prices and there's more competition wanting the properties.  You might have to make three offers a day and do a lot of running.  The quicker you can make an offer the better.  Just do what you like and be a hustler.  Know the market (s) you select and know the best locations within it.  If you are not paying cash get a loan pre-approval letter before you start investing.  Build good relationships with the sellers and be a problem solver.  Use experienced Team leaders.  Make sure they are local people Team members that will return your calls.

I am 59 years old and I found BP about 7 months ago and I am still trying to decide what to do.  I went to college, not that it is mandatory, and Î got a business degree that emphasized real estate.  Being in the state of Texas I was told that I would not have to take anything extra to get a broker license.  Regardless of what I had I felt more comfortable with the construction business.  I closed a few deals for other people.  I have been in the construction industry since I was 17.  My father has been in real estate for about 40 years and he has taught me a little bit.  If you think I can help you please contact me through BP at any time.  Good luck!