Hello!
My name is Evan and I just signed up to biggerpockets.com. I live in Westminster Colorado and I am tired of losing money in the stock market. My main goals are to build wealth and supplement my families income with rental properties or whatever investment makes sense here in Colorado where the housing/land prices are very high and climbing.
My wife and I have some disposable income and are wondering what the best approach to taking advantage of the rising housing costs here. Also it seems like real estate is a good way to build wealth over a lifetime.
Here were some of my thoughts:
- buy a lot, build a house and sell it.
- buy a foreclosure or wholesale house, flip it. This is hard because right now in this market houses are selling in a day.
- buy a residential or commercial rental property. My question here is does this make sense with prices so high?
I don't have a lot of experience buying and selling real estate or much knowledge on rehab costs but I am fairly comfortable getting bids and working with subcontractors. I was starting to look into trustee sales and will probably visit a few next week to watch and learn. I would appreciate any advice people have! I'm looking forward to getting started on my new career!
Evan
