All Forum Posts by: Jessica Mead

Hey Brett! This sounds like an excellent strategy. I am still fairly new to market analysis and it seem like this would be a great way to get to know an area. Also a great way to improve your deal analysis skills! 

Have you had luck in achieving your goals since you started working this strategy? I would love to connect with you so we can exchange tips and tricks! :)  

Hey @Howard Thomas! Welcome to the BP community! 

I am also just about as green as they come, but I've been trying to soak up as much information as possible over the past 6 months or so, which I think is one small way that I can make "actionable moves" towards getting started on a daily basis even with all the chaos I have going on everyday. In fact, my kids think I'm crazy because I wear these bluetooth headphones everywhere I go with the Bigger Pockets podcasts playing any free second I get so that I can absorb more information as quickly as possible! :) 

As part of this new adventure, my husband and I have recently decided to upend our lives and swing more toward the "profitability" side of the pendulum between "comfortability" and "profitability" (this gem comes from Craig Curelop, a BP expert on House Hacking!). We will be doing this by finding ourselves a nice little house hack situation to get into. It seems slightly crazy to be honest - especially considering we have 3 almost-teenagers and 2 dogs! But, gotta start somewhere right? 

Anyway, good luck with your adventure - wherever it may take you!

Hi Bill! Thanks for the welcome - and for not sugar coating it for me! I think it would only hurt me more if I didn't learn these things early on because one way or another I will still be forced to learn. So, the sooner the better I say! 

Excellent points about wholesalers. I will definitely keep this is mind as I look into those properties. 

Hey Ben! I would have to agree. In fact, I think this is the best advice I could have gotten right now. I am going to double-down on my efforts to just get through the first purchase and then I'll start worrying more about finding the "perfect deal" later! Colorado Springs does indeed to seem to be a tough place to start out with a true BRRRR for your first investment. Can't wait to come back in here and share the details!

Hi @Jenny Bayless,

This helps a ton, thank you for the advice! I will keep an open mind when it comes to exit strategies for sure. This market here is crazy! Also, I am definitely looking for that nice little "base hit" to get the momentum going as you mentioned. 

Hey @Douglas Spence! Thanks to you for the warm welcome and wonderful advice! I am actually just starting the BRRRR book and have a feeling if I had just been patient enough to finish reading it and wait to post my questions here, all of them may have been answered! Still, I'll admit I may have just been excited to jump in head first and start talking to people!

Can't wait to meet more people like you who are smarter than me!

Hi @Garret Myers! Nice to meet you, I would love to connect!

I have been to a couple of the local REI meet ups at Third Space Coffee in the Springs, but that's about it so far. Are there any others you would recommend?

Hi @Odie Ayaga, thanks for the warm welcome! 

You make a great point about whether or not an agent would make sense and I'm glad I asked! I am actually hoping to go through a local wholesaler but (as you so astutely pointed out) things are hot and moving fast here in the Springs market so it's next to impossible to get in on things if you aren't dialed in directly! So, at the moment I'm also struggling with an over-saturated market. For this reason, I was also wondering if an agent might be useful for helping me hone in quicker on opportunities as they arise. With that in mind, I would not necessarily need an agent to represent me at a wholesale transaction right? 

As far as hard money goes, part of the reason I was leaning that way is because I would only have so much cash to put down, which makes traditional financing a challenge and have yet come across any other opportunities like seller financing. So I actually just assumed hard money may have to be my go-to until I can rehab a property and refinance it traditionally. 

Thanks again for the advice! 

Hello BP’ers!

I am excited to jump into the forums here and start meeting people! Here's a little bit about me... I am in the early stages of my REI journey – as in, loaded with (probably too much) information and excited to pull the trigger once the right opportunity presents itself! As I'm sure many people have experienced in the beginning, there are some speed bumps I'm trying to get over as I get started and am hoping to find the connections or advice that might give me the nudge I need to keep moving forward.

I am looking to buy fix & flip properties (or those with good BRRR potential) in Colorado Springs and the surrounding areas (including Fountain, Security, and Peyton). As a newbie, here are some of the big questions I am faced with right now:

1. “Is this the right deal?” The infamous analysis paralysis – I feel like I have a few good opportunities that could work in my favor, but think I might need some friendly advice to help push me forward…
2. “Should I use an agent for my first deal?” To my first point, I am thinking that working with an agent for my first deal might be the way to go. Anyone have thoughts on this? Or recommendations on a good agent for investors in the Colorado Springs area?
3. “So, how do I fund this thing?!” Funding is probably my biggest hurdle at the moment, and am leaning towards hard money for my first deal. I would love some referrals for good hard money lenders or recommendations for another strategy.

All of these questions and more… It comes down to finding people smarter than you, right? So, feel free to reach out as I am always looking to make some new friends! 

Looking forward to hearing thoughts on any of these questions from those smarter than me!