All Forum Posts by: Bobby Cofield

I live in Colorado but invest in real estate primarily in Kansas City. I've found that having a good team of people who trust each other, stay in their lanes, and communicate are the biggest reasons we have succeeded. Building trust is not easy and don't trust someone just based on their word. Talk to others they work with and ask for references if you don't know them personally. Having people who know the market and can help you manage the project or property is crucial to project success, especially if you can't be there regularly to handle things that will come up.

Doug, I was in this situation 6 months ago. It depends on how actively or passively you would like to build your portfolio. I work a 9-5, am married, and have 2 kids under 3 years old so I don't have a ton of extra time to actively find, fix, and flip properties. I live in Denver, CO but I have found a great group in Kansas City that provides great single-family home properties that are newly renovated and turn-key for long-term rentals (I'd be happy to connect you). My rental already had a tenant in it by the time I took over ownership, and most of their properties have tenants in place from day 1. This is great because it cashflows starting day 1. All this to say starting is the biggest, hardest, most important step. Start with 1 property and scale as your time and finances allow it. My first property will provide me with monthly cash, appreciation of the home value, and depreciation on my taxes which will help me get to my second property much faster. Now that I've gone through all of the steps to get through my process, I'm that much more knowledgeable and confident going into my 2nd deal which I'm already working on. 

Good luck and hope this helps!

Hope for the best, but plan and budget for the worst!

I've worked with lenders that have allowed me to put down 15% instead of 20%. There are some caveats to that and it's not always the best option but it can be depending on your scenario. It allowed me to put less into the property and still get a cashflowing asset. There are a lot of ways you can get creative about financing a deal to make it work. The biggest thing that will limit your ability to buy multiple houses a year is that thing between your ears. The more deals you work through, the more people you talk to,  the more questions you ask, and the more options you can create to meet the seller's needs (also meet your needs as a buyer) will ultimately dictate how many houses you buy per year. Good Luck!

Hello, I'm new to this community. I followed BP for a while and decided it was time for me to jump in this forum. I have worked with a lot of smart people in real estate which has allowed me to become knowledgeable about different areas and types of real estate. I've built my network through different industries but real estate is a common theme in our investment strategies. My network has provided me with an amazing opportunity to help others in a similar spot I was in not long ago to get started with real estate investing. I'm hoping to continue learning and offer value however I can in this forum. Please feel free to reach out and let's have a conversation.

We have a consistent stream of newly renovated single-family homes ready to be rented or already have tenants in place. To help move these properties we will sell 10% below appraised value. We have 7 addresses with pictures ready for investors ASAP