All Forum Posts by: Macie D.

Here is the "befor" picture.......but this was an older photo they posted on the listing. Since I inherated tenants with the property most of the work I have been dointg is on the outside right now. When I purchased it I found out the previous owners painted the building with the wrong type of paint for Stucco so it is peeling off in big patches. So I am currently working on removing all the existing paint to re-paint the building. I have replaced the roofing and am looking at getting the 1950's windows replaced. I've also done a few electrical and plumbing repairs (just minor things). The good news is that the building recently had new insulation done, new furnaces and new water heaters. When the renters move out I am looking at re-doing all the flooring, re-painting and updateing appliances.

Hi All,

I apologize for my extended silence I've been busy, busy :-) I did wind up purchasing my first property. I closed on June 19th. I bought a little duplex that needs some love. At the moment all my time and money is going back into getting the place fixed up. It is a cute little property with lots of potential but it's a lot of work at the moment. I am finding my biggest challege is one of the tenants that I inherated with the building. Thankfully their lease is up in November so I'm just riding it out until then.

Welcome @Adam B.

I too am a new investor in your area......I'm looking at Pueblo, CO and we are a military family as well :-). My husband is getting ready to retire and we are planing to stay in this area. I have not yet purchased my first property. I'm trying to really do my research before get started so I welcome any advise that anyone may be able to pass along.

Thanks all for the warm welcome! I am so glad to know there are so many people out there to offer advise to a newbie and I will surely be looking into all the resources you provided to be able to make an informed decision before purchasing my first property.

I really do go back and forth on the SFR in the area......I can purchase one for under 50K.......but it when I'm woking twards making a steady income it is really hard not to think that the 4-plex is the way to go. I've been looking at them for $120k.I know it is more of a risk but if the numbers work I don't know if the benefits might outweigh the risks? I know I'm not going to purchase a property (SFR or otherwise) that I don't think I can turn $100 a door on.

The general formula that I am looking at right now is 50% of rent back into property in expenses and maintenance, the other 50% = mortage payment and profit. So I'm thinking if I had a 4 plex that rents at $2100 a month, $1050 goes back into the property, $650 goes into mortage, insurance and tax then I am making $400 on 4 doors. What do y'all think? What formula do you use when considering a purchase?

Hi All,

I would like to take a moment to introduce myself.......and hopefully get in touch with some seasoned investors in my area who might be able to counsel me in this daunting process.

My name is Macie and I am looking to invest in southern Colorado. I have been eyeing investment properties for a couple years now. I have finally gotten to the point that I have a foundation to get started. I am looking in Colorado Springs, Fountain, Pueblo area; with my primary focus on Pueblo. I am completely new to real estate (I wasn't even involved in the process of purchasing my current home) so looking into some of this has been completely overwhelming.

What I do know is that I would like to purchase a multi-family investment property (although I have not ruled out single family if the numbers work for it). I have started looking at properties in my area with a local realestate agent.

I really do have alot of questions about how to effectivly increase my families income and protect our personal assets in the process. Especially questions regaurding formation of an LLC's vs. insurance with an umbrella policy for my investment. I'm sure I am going to need counsil from a realestate lawyer, a lender, an acountant, my realator and others. I would greatly appreciate referals for such counsil and/or any advice from other investors. I would really like to get a good start from the begining so I can make smart choices in the future.

Thank You all for taking the time to help a newbie get started.