Skip to content
Starting Out

User Stats

3
Posts
0
Votes

Getting Started In SE Michigan

Lorenzo Spurrier
Posted Dec 7 2022, 11:46

Hi, I'm a licensed Realtor/Builder in SE Michigan.  I have been in Real Estate sales for going on 5 years now.  The money is great, however, the work doesn't fulfill me at the end of the day.  I'd like to get into Real Estate investing and do residential redevelopment.  I have a few years of experience in manual labor.  I've done complete remodeling of kitchen/baths along with rough carpentry/roofing.  I have the tools, experience, education, and finances to move forward I just don't know how everyone is finding these off-market properties that turn a 10% profit at least.  It seems as if every deal I've analyzed from a number standpoint is a total loss or will result in breaking even.  What are some methods you successful investors are using to acquire and execute these transactions and turn a profit?  

User Stats

26,089
Posts
38,614
Votes
Nathan Gesner
Agent
  • Real Estate Broker
  • Cody, WY
38,614
Votes |
26,089
Posts
Nathan Gesner
Agent
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Dec 8 2022, 06:03

Ashley started out as a waitress making $20,000 a year and she's now up to 60+ rentals making $200,000 a year. I think there's room to succeed in Detroit. Here's her podcast:

User Stats

186
Posts
97
Votes
Matt McGuire
Pro Member
  • Rental Property Investor
  • Montgomery, TX
97
Votes |
186
Posts
Matt McGuire
Pro Member
  • Rental Property Investor
  • Montgomery, TX
Replied Dec 9 2022, 07:58

You have to invest in marketing. Successful investors that are getting off-market properties are sending thousands of mailers every month to lists that they purchase. You really have to commit to that if you want off-market deals. Or you need to find someone who is doing that and get on their investor list so you get sent the wholesale deals. 

BAM Capital  logo
BAM Capital
|
Sponsored
Your Path to Generational Wealth We offer wealth-building and income-producing real estate opportunities for accredited investors.

User Stats

73
Posts
49
Votes
Jim Wellington
Agent
  • Real Estate Agent
  • Saint Clair Shores, MI
49
Votes |
73
Posts
Jim Wellington
Agent
  • Real Estate Agent
  • Saint Clair Shores, MI
Replied Dec 18 2022, 15:58

Either by marketing or networking you can find off market properties. Connect with other agents and let them know what you’re looking to purchase. Go to local in person meetups or starting marketing.

User Stats

45
Posts
12
Votes
Todd Vernon Chunn
  • Wholesaler
  • Detroit, MI
12
Votes |
45
Posts
Todd Vernon Chunn
  • Wholesaler
  • Detroit, MI
Replied Dec 25 2022, 14:52

I am a local agent, wholesaler and I flip 4 to 6 properties each year. Feel free to reach out to discuss and I can point you in the right direction. TC

User Stats

7,485
Posts
4,059
Votes
Drew Sygit
Property Manager
Agent
#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
4,059
Votes |
7,485
Posts
Drew Sygit
Property Manager
Agent
#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
Replied Jan 6 2023, 12:20

@Lorenzo Spurrier real estate investing and residential development are two different things. 

Which excites you more?