New Member in Denver

[Nick Newby]

Hey Everyone,

I'm new to BP as far as posting on the forum, but have been listening to Podcasts and reading the blog for a couple of years, such great stuff!

My business partner and I are just dipping our toes in to real estate. I started an LLC with a really close friend both of us are working other jobs and enjoy them, and don't want to leave, unless we create a strong opportunity for ourselves.

What led to our starting the LLC and beginning the process of investing in real estate stemmed from our disappointment with rates of return in conventional investments. I was a stock broker for a few years and have worked in finance for about 10 years. He's a CPA also working in finance but recently got in to sales. Both of us have invested in 401K, saved on the side with banks, the usual investments. However, even with the relatively strong past few years in the Stock Market we quickly realized the best returns are not there. We talked about buying a business, or investing in a business in order to get some better passive income. While working on finding some opportunities we talked to some friends and family and have found that others are in the same boat. Most of us are in our late twenties or early thirties and realizing that we don't have the savings or risk appetite to do anything on our own, but all of us have a little bit stashed away that we'd like to put to better work. Thus, began NANJS LLC. We started the LLC to bring together 8 investors along with ourselves to get in to a property, now the problem is finding one and pulling the trigger.

We live in Denver and are floored by the exorbitant prices and low cap rates, but are scared to venture outside of our market... so for now we are hesitating trying to find the right property in the right place to take the risk.  Having our friends and family involved is definitely making it more difficult to simply jump in and learn on the fly.  Although, we both can't wait for the opportunity to learn in the real world.

Exited to start learning from the great people on this site.

Nick Newby