New Member Intro from Colorado Springs, CO

[Nicholas Dick]

Hello everyone! My name is Nicholas Dick, and along with my wife, I am attempting to "break into" the exciting world of Real Estate Investing. I've done plenty of research on these forums and blogs, as well as with my own book purchases.

I have to credit biggerpockets.com with giving me the motivation to get started REALLY researching how to make it as an investor. While I have yet to complete my first deal, I have written a fully fleshed-out business plan for how I plan to control $10M of real estate within the next 10 years through rental properties.

My ultimate goal is to retire after I've made enough acquisitions to cover my monthly expenses from cash-flow, and I plan to get there by starting out fix-and-flipping. I will use the capital I raise from fix-and-flips to purchase buy-and-hold properties. I purchased the e-books on fixing and flipping from J. Scott here on Bigger Pockets to get more insight, but am more or less in a learning phase.

As far as buy-and-hold properties, I recently made an offer on a 4-plex in town, but it fell through due to foundation issues ($77k in repairs needed!). I'm happy about it, though, because my wife and I overcame analysis paralysis and learned from the process.

Here on Bigger Pockets, I'm hoping to meet and compile a list of buyers and sellers, and I'd like to find referrals for every type of team member you could think of: attorney, accountant, contractors, buyer's/seller's agents, private funding, mechanics, property managers, etc. I am already working with some, but it is never a bad idea to meet new people and expand the team. I'd also like to form partnerships with people in my area whom I may be able to work with to increase opportunities - or just to learn from one another.

If anyone is interested in reading my business plan to help me improve it or has any tips for ANYTHING, please get in contact with me. Of all the people I've worked with so far, everyone has been very impressed with the business plan. I only mention this because I want YOU all to know that I am very serious about starting this and following through long-term, as is my wife!

Well, great to meet everyone! Take care, and feel free to contact me any time!

Nick

[AJ Romero]

@Nicholas Dick - Welcome!! Nice to see another newbie from Southern CO!! My husband and I are just getting started down here in Pueblo starting with single families but the plan is to acquire more multifamilies once single families become less attractive to us.

Have you joined a local apartment association yet? I just joined SCRRA (Southern Colorado Residential Rental Association) a couple of months ago and there were a couple of big time landlords from Springs. Good luck with the learning process!