Stace Riley - Castle Rock, Colorado

[Stace Riley]

Hello BP Community!

I'm originally from Montana, but have been living in the Denver metro area for almost 20 years. My day job is as a software consultant, and I've been in the tech industry for most of those 20 years. 

I got into real estate last year when, instead of selling and moving to a slightly upgraded property, we rented it out and are able to use the cash flow for the upgraded property. We realized earlier this year that simply trying to rinse and repeat that strategy in this area takes too much luck and market timing. 

We were introduced to the Rich Dad/Poor Dad book and it changed our mindset from the traditional save-for-retirement strategy to trying to acquire enough properties to reach that first "financial freedom" hurdle of replacing our current income with passive real estate income. We've spent many hours researching using our library card (invaluable resource) and many different podcasts. I believe we came across Bigger Pockets after listening to the Morris Invest podcast.

We are currently researching Turn-Key companies in the Midwest and the South. I would love any feedback anyone is willing to share on positive experiences with TK companies anyone has used. I've searched through the forums a bit, and will continue as there are so many posts to get through. With my full time day-job, TKs seem to be the best way for us to start acquiring properties, but I also wouldn't be apposed to some BRRRR deals if we can find locally.

We don't have much cash to start out, so we have started the process with Fund and Grow. I've read the case studies on FnG, and would be happy to share our experience there. I also have a couple of local real estate investor friends that I will try and leverage for advice and any financing or deals that may be found around here.

Our first goal is to get our first property under our belts, then plan for the next! We are looking at structuring LLCs and a holding company first, but after reviewing a lot of posts here, that may not be an immediate need. I'm thinking a 5 year plan with an additional 5 years for growth before I can "retire" from my day job, but we'll see. 

Thanks for the read, and I look forward to any and all feedback from this great community!

-Stace