Newbie in the Colorado Springs market

[Lazlo Steele]

Hello all, my wife and I are non-traditional workers (self-employed and tip-based respectively) looking to build our path to wealth. We have big dreams for the next 10 years and I am looking for a place to ask questions and build a network of like-minded people. A bit more about us: we run an event based videography company specializing in Ice Skating/Dance but are branching out into wedding and commercial work as well; I have been a career bartender for the past 8 years and I am a huge nerd about food/beverage/hospitality. It is our 10-year goal to have a functioning hospitality and beverage focused project in the Glenwood Springs area of the mountains, this project requires significant cash-flow and capital to get started (and not bankrupt us along the way).

Our current interests lie with purchasing an initial single-family unit to live in and work out of, with the hopes of getting into short-term rentals in the surrounding ski towns. Lifestyle-wise we are not interested in house-hacking, but with the right multifamily unit we could owner occupy and be happy. As a newly married couple who has lived with room-mates most of our adult lives we are ready to be alone in a house together. Our current roadblock is a substantial debt from acquiring our company, which had been operating successfully for the past 25 years. We are on track to eliminating our expensive debt this year and building a down payment next year.

Looking forward to getting to know you all!

[Brenden Mitchum]

Hey @Lazlo Steele! Welcome to the BP community!

You are definitely in the right place to start building your network. Be active in the forums here and you will meet plenty of great people in no time! Also, you may want to consider checking out some local meet-ups. You can find these here on BP at biggerpockets.com/events or through meetup.com. 

With a huge but actionable goal like that you are definitely on the right track. If you have not already, I highly recommend expanding on that goal, really working out the details of where you want to be in 10-years (develop a vision). Then work backwards from there to have some shorter term goals to keep y'all on track. 

Keep us updated on your journey and feel free to message me anytime with questions or just to chat (I'd love to talk hear more about CO Springs).