Newbie from Cheyenne, WY

[Jeff F.]

Hi BP Community -

Been following BP on and off for a while, and excited to finally have an excuse to join. After a few life changing events, I've finally been able to try house hacking and real estate investing. 

I'm currently under contract for a 4 unit, 2 duplex property (yes, it's a bit odd) in cheyenne where my plan is to live in the most beat up one and fix it up while renting out the other 3. Since this is not my full time job, i'm hoping I can have this process completed in 6-8 months. The deal is supposed to close may 6, and i'm planning on getting started right away. There's a fair amount to do but this is my second house rehab, so I've made quite a few of the mistakes before and know what to avoid. 

The plan as it currently stands is to try and get 3 deals done in 2016, including this one. Ideally, I'd house-hack all of these, but it's not a requirement. Once the repairs here are underway and almost finished, the plan is to begin looking for a duplex/triplex (or something that could be easily converted into one) and use an FHA loan on that to secure the property, and move into that as well.

I plan on using savings from my day job and side income streams to purchase future properties.

Im curious about legal structure (i've heard that it's best to have an LLC for every rental, then a holding company for all LLCs) which is not a problem where I live because they are very cheap to maintain.

I've got a solid team so far, and am planning on self managing these properties for the time being. 

Im looking to meet anyone in the denver/boulder/fort collins/northern colorado area, as well as any BP members from wyoming, and would like to talk with investors/hard money lenders or people who have used hard money lenders.