Advice/Resources to Get Me Started (again)

[Laura MacDonald]

Back in the day (pre-kids), I was a highly motivated, highly successful business person. I got interested in real estate, taught myself everything I could using books (Kiyosaki originally got me very motivated) to seminars, reaching out to people, etc.  Bought 2 4-plexes in my late 20's, and later made just under 7 figures in about 18 months doing some flips. Then, kids happened....became a stay-at-home, home-schooling mom of 4 kids (3 with special needs).  Still home-schooling 4 teenagers, but I am ready to get back in the game.  I NEED to get back in the game, but I know the rules have changed, EVERYTHING has changed from where/how to source deals to funding sources, etc. 

I am now 47, and need to build a retirement, and longer-term, generational wealth.  I am interested in multi-family to achieve this, but open to other suggestions if there are better options.

So my questions are:

1) What books/podcasts/webinars/authors/resources would you recommend to get me going again? What resources should I begin to devour to help me understand the world of multi-family investing in the world today??

2) Given my age (47), goals (cash-flow for retirement; longer-term wealth), and the fact that financing would have to be non-traditional (while I have access to a bit of cash, we are entrepreneurs whose tax returns do not look good in the most recent few years), is considering multi-family my best option? If not, what would be suggested?

3) I live in Denver area, mid-way between Denver and CO Springs....any recommendations for markets to begin to target/research? Ideally in CO, but if better markets, would be happy to look out-of-state.

I am VERY open to learning, and will greatly appreciate any advice or insights anyone with more recent experience and success can share.

Thanks in advance.

[Jeff White]

@Laura MacDonald You have a great background in real estate, so it won't be hard to get back into it. Like Matt said above, the key will be to find out what you qualify for, and that will determine your strategies for short and long-term. Start with a traditional mortgage broker to find out if you can get conventional financing since that will be your cheapest money. 

1) Since you are ready to absorb more information, Biggerpockets is a goldmine for information, read everything!  You will find thousands of articles, posts, podcasts etc on basically any thing you want from starting out to situation questions and answers.  All of it is free too.

2) It depends, do you have access to business lines of credit, personal lines of credit, or private friends/family money?  Since they aren't traditional banks, personal tax returns aren't as important to them, and you can go from there. 

3) Denver and Colorado Springs are both fantastic appreciating markets, and I'm a big believer in buy within 1 hour of where you live. The purchase price is definitely higher, but if your goals are long-term, you will be happy with whatever you end up buying.