New investor from Denver, Colorado!

[Thomas Jordan]

Greetings, BP community! I'm Thomas, a lurking/potential RE investor from the Denver area. I work in telecom and have had a long-time interest in real estate investing but always thought it was out of reach. After learning more about the pitfalls of sinking too much into my 401k account, I've decided to shift my focus into RE rather than maxing out my 401k and my wife's TSP account annually.

With it being a new year (and bonus season!) I've decided that this is the year to get started. My goal for this year is to acquire my first two rental properties. At the current market prices and rent levels, I've been looking mostly at properties on the MLS in the range of $60k-100k. I intend to use conventional financing for the first few, as I currently only have one mortgage at the moment (my primary residence.)

I haven't narrowed down a target market, but so far, everything has me leaning towards Memphis for a starting point. I have been pre-approved for a loan and have the cash on-hand for down payments and any holding costs while finding tenants (I'll very likely work with a PM).

My team right now is just me and my laptop, but I hope to start building a network on the ground in Memphis over the next few weeks (shoot over your recommendations in all categories!) I've got a vacation planned for the second-half of March and would ideally like to have at least one contract in play by the end of April.

I guess that's all I have for this post - I've been putting off writing it for a few weeks and finally decided that I needed to get this done so you guys can hold me accountable to meeting this goal.

I live in Parker and work in Greenwood Village (DTC area) if anyone wants to get together!