Excited Newbies for flipping or rentals in Pueblo, Colorado

[Tammy Tivis]

Hello fellow BP members! I came across BP just 2 weeks ago after stumbling across Podcast 197 with Chris Heeren. Wow, what an eye opener! Since then, we have attended 2 trustee auctions, a couple BP webinars and listened to over 20 more podcasts (eventually we will be caught up to current), driven by dozens of MLS homes and started playing with the real estate investment calculators. I read "Rich Dad, Poor Dad" in my late teens but I guess I should've paid more attention. Just went a little crazy and purchased "Every Landlord's Legal Guide, "Rich Dad's Cashflow Quadrant", "Landlording on Auto-Pilot", "HOLD: How to Find, Buy and Rent Houses for Wealth", "The Millionaire Real Estate Investor", "Every Landlord's Guide to Managing Property", "The Book on Investing in Real Estate with No (and Low) Money Down" (by Brandon Turner). The goal isn't to get "analysis paralysis", but we want to be informed and make smart decisions.

A little background... My husband Mike and I grew up in the Foothills of Northern CA (Newcastle, CA and Foresthill, Ca for anyone officially familiar with "the boonies"!). We purchased our first home (short sale) in Antelope, CA in 1996 and our 2nd home (foreclosure) in Rocklin, CA in 1998 or 1999?  Our 3rd home was purchased in Auburn, CA in 2000. Home values were steadily increasing but we needed to relocate near Louisville, KY in 2002 so we sold everything and were happy with the profits. Too bad we weren't wise enough to hang onto those!  Our first 2 homes were turned into rentals for a short period so we have (very little) experience with landlording. 

Why real estate now?  We have operated a successful internet business (unrelated to real estate) for the past 15 years and moved the business to Pueblo, CO May 2016.  We have been re-evaluating how to best continue long-term investing and real estate makes more sense to us than mutual funds.  We're looking for ways to reduce our tax liability so not sure if flipping is an option but we're open to both flipping and rentals. Pueblo seems to be a great market for rentals.

We're trying not to get "distracted by all the shiny objects" but keeping options open. This has been an amazing resource and we give thanks to Josh, Brandon and everyone that takes their time to be part of this community.  Probably TMI but Mike and I look forward to interacting and contributing.

All the best...