New member, looking for properties in Denver and Wenatchee, WA

[Derek Scruggs]

Hello all,

I own a townhome in Boulder, CO that I started renting out last December in order to come to Denver, which is closer to work. I'm renting for now, but I'd like to buy a duplex or triplex and live in one of the units.

If all goes well, in five years from now my girlfriend and I would like to move to Wenatchee, WA (she has family there) and semi-retire to do RE investing full time. I'm willing to buy a rental property there soon if the deal is right.

I've been casually looking at the market in Denver but am not ready to buy yet because I don't have W-2 income. That should be resolved by the end of the year.

My background is software startups. I'm comfortable with business management but am a total newbie when it comes to the legal and tax ramifications of RE investing.

Not sure what else to add except to say shoot me a note if you're interested in talking. Thanks!

[Glenn D.]

Derek,

Welcome to investing! I know that there are a BUNCH of REI groups in Denver/Colorado and I personally know a young guy getting ready to go there by the name of @Mahad Fahieh.  I would say Google REI groups in Denver and get in the game.  As for not having a W2 Income, it's not a necessity but you of course have to make the determination.

One of my mentee's is a college student (no W2 income) and with the help of a little family cash just purchased his 1st home.  His situation was that he was renting a room during college and then wound up buying the house from the owner for less than it was renting for.  Additionally with a little sweet equity rehabbing he is now looking to sell it and will make a 17K profit.  So it can be done.

Good luck.

Glenn