Kenneth Otterman, ORGANIZER AND DEVELOPER
Though Ken Otterman hails from Pennsylvania (he staunchly supports Penn State, his alma mater), his life was irrevocably changed after a visit to Colorado when he was 14 years old. The majestic mountains, the drier weather, the clean air, the welcoming people, and the outdoors culture captivated him. It was then he knew Colorado would be his home.
Ken has authored five books in the real estate investment arena. He has been published in over thirty newsletters, magazines, and trade publications over the past thirty years. His writing encompasses real estate investing, management, tax shelters, home purchasing, construction and rehabilitation, negotiation and finance. His principal priority is Goals and Plans, a system that keeps investors moving toward a measurable target. He has been in demand as a consultant for more than twenty-five years, having consulted on more than seventy projects.
In 1991, Ken began his involvement in rental garages and self-storage by purchasing a friend’s under-managed and under-performing rental garage space building. Upon seeing the simplicity of management and impressive cash flow, Ken became so intrigued that he began to look at expanding this investment. Over the next few years, he purchased and improved over 300 garage rental units, finding the ventures manageable in terms of time and effort. In 1998, he began utilizing Limited Liability Companies (Corporations) to purchase, revitalize (through improved management and capitalizing on opportunities) and construct more than 320,000 square feet of self-storage as a “part-time” investment. His area of investment has extended to commercial cash flow properties that include self-storage, mobile home communities, strip shopping centers, office and land lease.
Ken works hand-in-hand with community projects and supports foundations such as Habitat for Humanity, The Caron Foundation, The Boy Scouts of America, Operation Facelift, Latch Key Kids,
Wounded Warrior Project, Steamboat Pregnancy Resource Center, World Vision, and Clean and Sweep program in several cities. He believes in creating a sense of “give backs” that help communities grow.
Mr. Otterman is listed in Who’s Who in Finance and Industry, Who’s Who in the East (1993 – 1998), Who’s Who in the World and Who’s Who in America (1996 to present). He is co-founder and past president of REIA (Real Estate Investment Assoc.), continuing as a charter member on its board. He is also a continuing charter member of DIG (Diversified Investor Group) and their advisory board.
Ken loves spending time with his sons and their families (especially the grandkids!), attacking the downhill ski slopes in the winter and the golf courses and tennis courts the rest of the year. He keeps his Pennsylvania roots alive and well by and keeping track of the Nittany Lions, the Pirates, the Steelers, but follows his adopted Colorado heart by cheering on the Denver Broncos as well.
Joy Rasmussen, General Partner/Real Estate Professional
With more than 20 years of experience in marketing and sales, Joy Rasmussen is a Broker/Owner of Colorado Group Realty, based in Steamboat Springs. She is ranked among the top 10% of brokers in sales in Steamboat Springs, and is a member of “Who’s Who” on Luxury Real Estate.com. She holds certifications as Graduate, Realtor Institute, E-Pro, and Certified Negotiation Expert. She has been a member for over 10 years of the Steamboat Board of Realtors, the Colorado Association of Realtors, and the National Association of Realtors.
“I grew up in the real estate business. In first half of the 1900’s in California, my grandfather was a real estate developer and investor. My father was a financial controller and home builder and my mother was a property manager. This business is really in my blood and it’s very personal to me—it’s part of my life even beyond a career,” Rasmussen said. Upon graduating from San Diego State University with a BA in Parks and Recreation Management, Rasmussen got her professional start working for the city of Park City, as Assistant Director of Recreation. After five years, the travel industry beckoned where she found herself traveling the world for more than 15 years. She represented five-star resort properties and six-star cruise lines, overseeing sales and marketing teams.
Joy’s real estate investment career formally began in 2002, when she obtained her real estate license. She discovered self-storage as a way of acquiring passive income. She purchased ten mobile storage containers as an initial trial investment. Immediately, she was hooked on commercial cash flow real estate. Since then her current portfolio includes being a general partner in ten self-storage facilities, three mobile home communities, three strip shopping centers, several residential properties and a property management company. With this passion and specialized “skill knowledge,” she has taken her very successful brokerage business into the commercial real estate arena by representing investment clientele from all over North America and beyond.
Among her life interests, Joy is an avid competitor in short and long distance triathlons. She is consistently ranked in the top 5% of triathletes by USA Triathlon (the sport’s governing body). She has sat on the Board of Directors for USA Triathlon (past president for two terms) and is the founder of the Steamboat Triathlon and Steamboat Lake Triathlon. She is a USA Triathlon Certified Coach for adults and head coach for the Old Town Hot Springs Youth Triathlon Club. Joy is also dedicated to protecting kids – she is a certified Guardian ad Litem, which advocates for abused and abandoned children, and has been a supporter of World Vision for more than 15 years.
Brent Richards, Developer and General Partner
Brent Richards has been a self-employed, successful businessman for more than 29 years. His entrepreneurial spirit began as a young boy in the Wyoming hills, hunting and catching rattlesnakes for their rattles to sell to a local gift store. He learned quickly that risk, hard work and determination brings a profit. At the age of 18, while living in Utah, he worked in the security industry for large retail chains such as Nordstrom, Weinstocks, and Ross. During this time he began an investigative business, which involved completing asset searches and skip tracing for a prominent group of attorneys.
In 1987, Brent moved to Denver, Colorado with his young family. He worked as a partner alongside his father as a manufacturer’s representative in the pipe, valve and fitting industry. He soon purchased his father’s portion of ownership and re-branded the company, RepMasters, Inc.
Brent’s ingenuity and tenacity have paid off. Today, RepMasters, Inc. is one of the fastest growing valve and fitting representative companies today. Gross sales have grown from $2,000,000 per year when he purchased full ownership of the company, to sales currently exceeding $24,000,000.
As he was growing his business, Brent became involved in purchasing and leasing residential and commercial real estate. His interests also encompassed involvement in the stock market, self-storage, and other business ventures. Not only has his hands-on experience in the business world at every level helped catapult him to success, but his formal education has also been a valuable asset in his endeavors. He graduated with honors earning a dual major in both Business Management and Business Administration.
Brent began to see the value of asset income rather than asset accumulation through real estate and began to seek out, secure, and manage cash flow real estate. Beginning with single-family homes, Brent moved cautiously into commercial and industrial opportunities as he identified right fits for his direction. Brent soon began working with like-minded individuals who aligned with his goals of securing additional real estate holdings.
Brent is involved in and financially supports St. Jude’s Children’s Hospital, Denver Rescue Mission, Salvation Army, and the Special Olympics. He believes that with as much that he has been blessed, it is important to give back.
At every opportunity, Brent loads up the family and spends time at his Williams Fork River Ranch in Routt County, Colorado. His strong faith in God sustains and guides him. His other interests include, family, writing, martial arts, snowboarding and overall physical health through exercise. He fully embraces every moment in life and enjoys a challenge. Luckily for the rattlesnakes, he has moved on to other interests.