New Investor in Fort Collins, Colorado!

[Todd Richmond]

Thought I would introduce myself to the great members of BP!  

I have been investing off and on for about 8 years now, buying and selling, doing rentals, lease options, fix-n-flips and whatever comes along.  With the housing market being so hot in Fort Collins and NoCo, I am looking more at the buy and hold strategy.

I love the passive income from rentals, and have done well with appreciation. In March, I completed a 1031 exchange out of a mountain property into two SFH rentals in Loveland (new construction). I am hoping to purchase at least that many more before the end of the year through a self-directed IRA and other means. My long term goal is a minimum of 20 rentals, which should enable me to fully replace my income as an electrical engineer.

I have a large and busy family with 8 children that are ultimately my greatest success in life, irregardless of how well I do or do not do in real estate.

[Todd Richmond]

Hey @Brandon Turner, thanks for the warm welcome and great advice.  I've got my Keyword Alerts all set up.  I see that you are quite a prolific poster here at BP, and I will be taking the time to read your book. 

Just curious, but you mentioned as one of your goals to own 100 units cash flowing $100/month each.  Is your market difficult to cash flow?  I only have 3 properties at the moment, but I try to target $500/month cash flow.  In that respect our goals are similar in that I am trying to get to 20 properties, i.e., $10,000/month cash flow.  Obviously, I have a long way to go,  but I am excited about the journey!