Investing Advice in Michigan

13 Replies

Hello my name is Jonne Washington and I am looking to get started in the real estate investing. I don’t know where to begin. I am going to my local real estate investors club in a couple of weeks in Michigan. I don’t have much cash saved up and I have a part time job. I’m 23 years old and just looking to get advice on where and how to start and the things I should have in order to accomplish these goals. I also plan to get my license and learning the traditional side to real estate as well. I just want to gain as much knowledge and experience as I can. I have read some books and articles online but haven’t actually done anything with it yet. But I am ready to start learning. Thank you in advance.

Hi @Jonne Washington

Welcome to BP and Michigan real estate investing. Getting out to investor club meetings is the easiest way to meet real estate investors in your area.

There’s meetings every week. If you go to Meetup dot com you can find them all.

Feel free to send any questions my way, I’m always happy to help if I can answer.

Thank you Dylan I really appreciate it. I will definitely ask some questions if I do get lost or confused. Yes I think going to the investing club is a really great way to get started. I’m excited to attend my first one.

@Jonne Washington Absolutely, as a starting-out investor like yourself I encourage you not only to go to your local REIA events, but be proactive, read books, listen to podcasts, interviews, and also try to find other networking events at meetup.com for example and even eventbrite.com

Don't hesitate about shooting me an email if you have any more questions Jonne, I will be more than happy.

Welcome to Bigger Pockets! This website is a great place to start and just like so many have already said going to some of the local meet up is a great way to learn and meet other investors in the area.  What part of Michigan do you plan to visit/ invest in? 

Hey Nathan, how are the opportunities in Detroit these days.  Lots of difficulties to overcome, but I know things have been turning around.  This Chicago guy would love to invest in that city.  Any initial thoughts?
Originally posted by @Nathan Hall :

The Detroit REIA groups are amazing! I am in the Lansing market and I WISH our local REIA operated on the level that Detroit's clubs do.

Hey Nathan, how are the opportunities in Detroit these days.  Lots of difficulties to overcome, but I know things have been turning around.  This Chicago guy would love to invest in that city.  Any initial thoughts?
Originally posted by @Nathan Hall :

The Detroit REIA groups are amazing! I am in the Lansing market and I WISH our local REIA operated on the level that Detroit's clubs do.


Originally posted by @Brad Taylor :
Hey Nathan, how are the opportunities in Detroit these days.  Lots of difficulties to overcome, but I know things have been turning around.  This Chicago guy would love to invest in that city.  Any initial thoughts?
Originally posted by @Nathan Hall:

The Detroit REIA groups are amazing! I am in the Lansing market and I WISH our local REIA operated on the level that Detroit's clubs do.

Brad,

Opportunities definitely abound there. Things are hot in certain areas near downtown, suburbs like Livonia and surrounding areas, and on detroit's Westside. You'd certainly need boots on the ground and a way to find the off-market deals. That is where people are seeing the best deals: vacants and off-market. Our group is about to start marketing in the Metro area! 

@Nathan Hall , I was a fan of Ann Arbor clubs too. In your opinion, what could Lansing groups do to improve? I'm involved with the Mid-Michigan RPOA and would appreciate your feedback. Feel free to message me if you want.

Hi @Jonne Washington ,

Congrats on making the decision to get involved in REI. At 23, you have so much time on your side.

Lots of good advice here.  Go to meetups, listen to podcasts, read books, etc.  One additional piece of advice I have is that when you find an area of real estate that you're interested in, focus on that niche, whether it be flix and flips, wholesaling, buy and hold, etc.  There's enough content on this site to last you a lifetime, but don't get too bogged down by all the info.  Too many new investors want to do it all, which is understandable because it's all exciting. Pick a niche, learn enough to be confident to move foward, make moves.