Hi Everyone,
I'm Chris Sonnleitner, and live in Colorado. I hope to get into the real estate investing market.
Currently I own and run a tile business that I've had for 7 years.
I haven't written a plan out yet, but have thought a lot about it. I'm thinking about doing fix and flips to start. But, eventually take money from doing that and invest in some rental properties. I have a goal of having 10 rental properties by the time of retirement. (about 40 years away or more)
I think starting out I could do a fix and flip because I have a lot of construction experience. I have done and can do roofing, most plumbing, tile, carpet, hardwood, drywall, texturing, painting, gas lines (propane), electrical as far as switching out lights, switches etc.
What I would not feel comfortable doing and would probably hire out would be difficult plumbing, electrical beyond just switching out fixtures, not sure I could do a furnace but I probably could but I would probably hire that out as well.
It would be nice to get to a place where I have rentals and don't have to do all of these things myself.
However, having these skills I think I could do much of the work on a fix and flip myself and I have potential investors who can buy outright a house which I could flip up to certain amounts and share in the profits.
Some of the things that make me hesitant are that I live in Colorado where things are really expensive and there are many investors already. Finding deals is difficult. I know many agents, and maybe a few of them would help me with finding something with potential.
I've been thinking about staying out of Denver, and flipping rural. Less Competition, closer to where I live. But possibly more risk.
I'm currently wondering how investors go about finding ARV values of their potential flips?
I'd appreciate any feedback anyone wants to give me about getting into the game be it flipping or rentals.
Thank You
