Grand Rapids Tips for newly investors?

[Luis Ramirez]

Hello everyone,

My name is Luis Ramirez, I am a really new investor that its attempting to start their first steps at getting an investment property. I am really excited and I hope to be able to progress in this new journey. At the moment I am mostly interested in Short Term Rentals that I can put on Airbnb. At first I was considering Chicago, since I am from Detroit, but now I started looking into Grand Rapids. Are there any tips that you guys would recommend for a new investor trying to join this community? Any places that you would recommend look at? Any places to avoid? Special stories that you would like to share?

I appreciate any help or comment.

Thank you!

[Andrew Moore]

Congratulations! Getting involved in a community like this is a great first step!

I think when starting off you just need to be a sponge. Commit to building a foundation of knowledge that you can build off of. Read as many books as you can, network with other like minded individuals, and start analyzing properties to get into the habit of what to look for. 

Below are a few resources I found helpful when just getting started off: 
This is a link to a video that Brandon Turner did a number of years ago that does a great job walking through a pretty high level property analysis. The BP youtube channel has loads of super informative content (along with the podcasts, forums, etc.)

The Multifamily Millionaire by Brandon Turner and Brian Murray is a great resource that goes a little more in depth into the overall process of locating and analyzing deals, and building a portfolio of small SF/MFH. 

Break into CRE is a great youtube channel that has some great information on a more technical level. As you continue to learn and grow throughout the process this might help give some insight into more specific concepts from an analytical standpoint. 

Best of luck! Let me know if there is anything I can do to be a resource for you throughout the process!