Newbie from Metro Detroit

Newbie from Metro Detroit

Investor · Chelsea, MI · Member since 2013 · 29 posts · 4 votes

Hello everyone.

First I thank you all in advance for your help.

For the last few years I have been reading, and analyzing real estate investing, but due to economics and family circumstances, it just wasn't an option.

Now, things are changing. My wife and I have transitioned into our roles as parents, I've had a couple of nice promotions, and I am almost done with grad school (MBA).

My background is in accounting. I am a CPA, and spent the first 4 years of my career working of a large regional firm. In 2009 I left the firm and joined two former partners in starting a firm that worked the way we wanted to. Typically we service closely held companies, ranging from $100k - $100M in annual sales. Our clients are generally concentrated in Construction, Real Estate and Transportation.

As far as real estate is concerned, I've always been interested in creating assets that create wealth. During my undergrad I read about about investing in small multi-family properties and though "this sounds like the thing for me", only it wasn't the right time.

I think that time is now, and see no reason to wait longer, except for the right property.

If I've learned anything this far in life, its that "I don't know what I don't know". I came across this site and though it would be a good place to lurk, ask questions and possibly get some guidance. My career and education has me mostly covered with the financial concepts, I'm hoping PB will help me find people to network with, guide me in how to find "the right" properties, and allow me to help others with my background.

If there are any accounting or tax related questions I can help any of you with, please don't hesitate to ask.

Looking forward to connecting and interacting with all of you.

Sincerely,

Scott Baker

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  • Investor · Chelsea, MI · Member since 2013 · 29 posts · 4 votes
    12y

    @Brandon Turner

    Thanks for the welcome! Thank you also for the keyword link. It was my next order of business.

    Its really great to have so many great people working together and welcoming newcomers into the community.

    I can't wait to meet up with the people in this thread; I walk my dog past some of their projects and properties. It's really exciting.

  • Involved In Real Estate · Rochester Hills, MI · Member since 2010 · 812 posts · 178 votes
    12y
    Originally posted by Scott B.:
    @Joe Delia

    Thanks for the heads up. I found it, liked it and added it to my interests. All the updates should show up in my facebook feed now.

    It looks like all the events are right down the street from me, I live off 12 Mile and work off 11 Mile.

    Really looking forward to it.

    Cool while you're at it "Like" delia real estate group ;)

  • Investor · Macomb, MI · Member since 2013 · 654 posts · 115 votes
    12y
    Originally posted by Scott B.:
    @Aaron Yates
    Thanks for the welcome.

    I can't wait to absorb as much information from all of you pros.

    If I can make it to the next meet up I will defiantly be there. Any idea of where or when it might be?

    I have a post going on righr now about it. I have to make a call tomorrow but we r leaning towards Champps on December 10th I believe @Tom A. amd I discussed. It will start at 6:30. Im working afternoons so I wont arrive til around 10:30 so hopefully a few peole will still be left.

    As for being a pro... Im flattered that I give that appearance but Ive only been investing for 2 1/2 years. Im just very aggressive although am very knowledgable in my market and at what I do. The group was started to help anyone in real estate new or 'used' ha ha ha..

  • Real Estate Investor · Lansdowne, PA · Member since 2013 · 1k+ posts · 656 votes
    12y

    @Scott B

    Thanks. It was lots of wind and rain, thankfully no snow (yet anyway).

    Kudos,

    Mary

  • Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @Scott B. - welcome to the community and glad you're taking action to buy real estate.

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Scott B.

    Welcome.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 40 past ones to catch up on.

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

    A buddy in Detroit got a brick duplex it was mortgaged at 80K he got it from the bank for 6K its cashflow 1K a month. Best thing 2 weeks later he got another one same street same numbers.

    Your profession will lead to an endless supply of private money.

    Good Luck

    Paul

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