New from Denver Colorado

[Cory Riffel]

Hello to everyone here at BP, first I would like to say what a great site this is, and the information that I have found already is outstanding. My name is Cory Riffel I am 28 years old and I currently live in Englewood Colorado. As for my day to day career, I am a drywall contractor in a family owned business, yearly contract totals from $500,000.00 to $700,000.00. I currently handle all of the company’s finances, a good part of the estimating and when and if necessary I will jump into project management duties as well. I wear many different hats on a day to day basis, but that’s just the norm when working in a small family owned company. As for real estate experience, I obtained my broker associates license out of high school (2001) and was able to put together three deals. I used the money to attend college and I have not been active in real estate since. Now for the reason I am here at BP, I have always had a great interest in real estate, mainly rehabbing and eventual development projects. Really the whole spectrum of real estate investment interests me; my way of looking at real estate eventually sees all the different avenues tying in together and creating one unique situation, whether that may be right or wrong I am sure I will learn a long the way. I am currently joining a couple of REI clubs, and doing a lot of reading and research trying to decide which the best path to start out on is. I am in the process of researching different areas and analyzing different purchase prices and actual sold prices, on which I believe are properties that have been rehabbed. I have also been researching different lenders and real estate agents that work strictly with investors only helping them find foreclosures and run down properties and purchase them below market value. As for my financial situation, I have been approved for a loan from a traditional lender for around $215,000.00, I have $60,000.00 in my savings account, I live with a well to do friend who doesn’t charge me any rent and the only debt I have is a school loan, which I have only about $4,000.00 left to pay. Also I will be a first time buyer if that holds any bearing to anyone.

Well that’s about it for now, a little long I know but I thought I would try to include as much I as I could. I am open for any ideas, criticism or whatever it may be; I am here to learn as much as I can.