Young BRRRR investor starting up in Fort Collins, Colorado

[Jacob McMahon]

Hello all, 

My name is Jacob McMahon, I am 21 years old, currently studying at Colorado State University. I am ecstatic to be in the beginning of my FIRE journey, and to use BRRRR real estate investing to reach my goal of financial independence. My goal is to accrue 5-10 cash-flowing, single family homes in Fort Collins, Colorado in order to reach a point where the income generated from real estate allows me to quit my 9-5 and focus on more important world problems. I would love the opportunity to do my first property as a JV, hoping to get some experience under my belt with some guidance, before moving on to do the rest of the properties on my own. My current savings goal is to save 60k for a down payment on a JV property. I would love any savings advice to reach this goal as quickly as possible.

I am excited to join the Bigger Pockets community to gain knowledge, resources, and build a team. 

Jacob McMahon  

[Ian I Leinwand]

Jacob... do you own your own home currently? If not start there. Buy a house you can house hack and have roommates. At your age house hacking will pay off much better than BRRR. Cash-flowing rentals are hard to find in Fort Collins market these days. I also haven't seen a BRRR deal in Fort Collins that actually pencils out in quite a while. At best you can recapture your rehab costs when you refinance on a refi most banks only let you cash out 70% of ARV and typically require a 1 year seasoning period.

I'm local and happy to chat and connect you with some great local realtors and investment-friendly lenders when ready.