Calling all Grand Rapids Investors!
Hello BP!
I'm a newbie investor looking for deals in the Grand Rapids area! I'm wondering how most people find their deals. Do they use wholesalers or are they finding most of the deals on the MLS? Any particular areas of GR that are relatively safe and cash flow nicely? I'm looking to employ the BRRRR strategy, so if anyone has any tidbits of knowledge, then I'm willing to listen!
-Alex
Most Popular Reply
@Alex Lee I think your question is really how people find the best deals not how most people find deals because the answer to your question is most people find "deals" on the MLS, then probably wholesalers, then direct marketing and referrals. In reality the best way to find deals is through directly working with sellers and referrals because the less people involved in the deal the less people holding their hand out for a paycheck. As for areas of GR that are relatively safe and cashflow nicely that is vague because the safer of an investment you chose generally the less cashflow. That's why you see people buying high rises, and commercial NNN leases at 6 CAPs because the quality of tenant and real estate reflects the lower return because of the degree of the lower degree of risk. I think your first step should be to find a qualified realtor/investor to partner with to get you familiar with the area but in the meantime if you see deals on bigger pockets and elsewhere send those deals to your potential investor/partner to see what they think. Many strategies work for the right person, but you really need somebody that knows a lot more about your situation and wants before they start offering advice or you may as well take advice from the local barber that just hears a lot stuff.