New real estate investor

[Lydia Tilahun]

Hi everyone, I’m a beginner investor based in Colorado. I’ve saved $60K and I’m looking to invest in a rental property — possibly out of state. I’m still learning and would love to connect with others who’ve started with similar budgets. Open to advice, tips, or just hearing what’s worked for you! Thanks in advance.

[Don Konipol]

Quote from @Lydia Tilahun:

Hi everyone, I’m a beginner investor based in Colorado. I’ve saved $60K and I’m looking to invest in a rental property — possibly out of state. I’m still learning and would love to connect with others who’ve started with similar budgets. Open to advice, tips, or just hearing what’s worked for you! Thanks in advance.

I wouldn’t make it TOO complicated - while learning as much as you can is always good, trying to organize all this random information into an investment strategy at the early stage of investing is impossible.  Here’s what I would do based on my 45+ years of real estate investing experience

Purchase a small but well located and good condition SFR or duplex in an area within a 2 hour drive (preferably 1 hour) of your main residence. Collect rent, pay bills, keep a reserve for repairs and capital items.  You’ll learn more in a year then all the theories, strategies, and tactic study will teach.