Hello everyone my name is Travis. After years of living in California and Vegas I’ve recently moved back to Northern Michigan where I was born and raised. I’ve also recently started learning more about real estate and in particular wholesaling. I’m eager to learn more so if anyone on here could give me some tips and pointers that’d be greatly appreciated!
Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
5y
@Travis T. Braman, my couple pointers: a) make sure what you are doing is actually legal (most wholesalers are operating illegally and transacting real estate without a license). b) know your numbers, what makes a deal work. Most wholesale deals I see are overstating ARV, understating rehab budget, over estimating true rental rates.
If you are honest about your numbers, you will likely be getting less deals, but you will build a much stronger network of investors overtime, since those investors will be able to actually trust you.
Lender · Troy, MI · Member since 2019 · 432 posts · 147 votes
5y
@Travis T. Braman Welcome to Michigan and the real estate world. There are plenty of opportunities. Find areas and markets that you feel works well for your budget and time. This can help to get a buyer and sellers list. There are local REIA meet ups in many parts of Michigan. You can tune in to groups online for monthly meet ups. Some are free and some are paid. You can learn a lot.
Lender · Grand Haven, MI · Member since 2016 · 43 posts · 6 votes
5y
Hi Travis! Welcome (back) home! They say that you are the average of the five people you spend the most time with. My best advice is to surround yourself with others who will "bring up your average." These don't always have to be investors. They could be other professionals inside or outside the industry like realtors, CPAs, attorneys, or lenders (like me!).
Having a peer group of experienced industry professionals who care about your success and whose success you care about can explode your growth. Do all you can to provide up-front value to anyone who you'd like to connect with. This can be as simple as striking up a conversation via phone, email, Zoom, etc.
Best of luck to you! Please feel free to reach out if you have any questions, especially lender-related. Happy investing!
Hi Travis! Welcome (back) home! They say that you are the average of the five people you spend the most time with. My best advice is to surround yourself with others who will "bring up your average." These don't always have to be investors. They could be other professionals inside or outside the industry like realtors, CPAs, attorneys, or lenders (like me!).
Having a peer group of experienced industry professionals who care about your success and whose success you care about can explode your growth. Do all you can to provide up-front value to anyone who you'd like to connect with. This can be as simple as striking up a conversation via phone, email, Zoom, etc.
Best of luck to you! Please feel free to reach out if you have any questions, especially lender-related. Happy investing!
Thanks for advice. I’ll be sure to reach out if I have further questions.