New Investor from Michigan - Looking to network and grow.

New to Real Estate · MI · Member since 2022 · 1 post · 1 vote

Hi, my name is Neel and I work full-time as an Electrical engineer in Detroit. I am looking to start the real estate investing journey soon. I started doing Market Research during the last two months. I am looking for some suggestions about potential places in the USA to buy rental income property and guidance for closing out the first deal with the goal of making some good passive income long-term. I am open to exploring Out of State properties. I'm very excited to be here and looking forward to growing my network.

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Sanat Bhandari

Investor · Omaha, NE · Member since 2021 · 244 posts · 163 votes

@Neel Trivedi Welcome to BP and good luck with your investing journey

I'm an investor + mortgage broker out of Omaha, NE and work with investors, both aspiring and seasoned, all day long. Feel free to use me as a resource in however way I can help you, whether that be as an advisor/lender

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Sanat Bhandari
Investor · Omaha, NE · Member since 2021 · 244 posts · 163 votes
3y
@Neel Trivedi Welcome to BP and good luck with your investing journey
I'm an investor + mortgage broker out of Omaha, NE and work with investors, both aspiring and seasoned, all day long. Feel free to use me as a resource in however way I can help you, whether that be as an advisor/lender
1 Reply
Alli Breighner
Lender · San Diego, CA · Member since 2022 · 587 posts · 298 votes
3y
Hi Neel-
I'd love to connect, and help offer guidance with your first deal.
Welcome to BiggerPockets!
1 Reply
Nathan A.
New to Real Estate · Sunnyvale CA and Maplewood, NJ · Member since 2022 · 257 posts · 161 votes
3y
@Neel Trivedi you might want to check out this blog post from Dave Meyer, "Top 10 Real Estate Markets for Cash Flow in 2022," as a starting point to thinking about potential markets. I'd also highly recommend David Greene's book, "Long-Distance Real Estate Investing."
1 Reply
Jim WellingtonBusiness Member
Real Estate Agent · Saint Clair Shores, MI · Member since 2022 · 73 posts · 51 votes
3y
@Neel Trivedi Metro Detroit is a great market to invest in. There’s good appreciation and very strong cash flow. All of the rentals I own are in the Metro Detroit area. Wayne, Oakland, and Macomb county.
We’ve got strong sources of employment and a healthy pool of tenants. My team offers a one stop shop to find and fund your purchases.
[email protected]586-204-2010
1 Reply
Arsen Atanasovski
Investor · Rochester, MI · Member since 2017 · 1k+ posts · 584 votes
3y
You sound like me! And it’s great to hear fellow Detroitors on BP!
1 Reply
Julio GonzalezPro Member
Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
3y
Hi Neel, welcome to the community! There is a great group of members on here to connect with.

561-253-6640
1 Reply
Joe HammelBusiness Member
Real Estate Agent · Metro Detroit, MI · Member since 2018 · 614 posts · 666 votes
3y
@Neel Trivedi
We love Metro Detroit, I’d say invest in your own back yard.
(I’m local and my rental portfolio is here and performs very well)
Purchase: $80k-$130k
Rent: $1200-$1500
ROI: 10-14%
Cash flow: $250-$350/door
Appreciation: Double digit (for past 10 years, will gladly send data)
Location: C+, B- (suburbs and certain markets)
We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints. Ever hear of Ford, Rocket mortgage, or Beaumont hospitals? All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.
The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.
[email protected]248-422-1685
FIRE Realty Team - Keller Williams5379 Reviews
Website View Page
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
3y
@Neel Trivedi
You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...
(BP search feature can be problematic, so we’ve also added links @ our website under View Cities & Neighborhoods We Service)

Please send us any feedback via email, as we do not use the DM feature here.
[email protected]248-209-6824
Logical Property Management4.9465 Reviews
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Andrew Vincent
Real Estate Agent · Port Huron, MI · Member since 2021 · 43 posts · 37 votes
3y
I would love to connect! I am a Realtor in Michigan and I would love to be apart of your real estate investing team. Let me know if you have any questions and welcome to the REI world and Bigger Pockets
0 Reply
Wendy PattonBusiness Member
Real Estate Consultant · Clarkston, MI · Member since 2009 · 864 posts · 350 votes
3y
Hi there Neel! Welcome to Bigger Pockets! I'm a real estate investor here in Michigan as well. I'd love to connect and provide you with any guidance I can as you get started.
Michigan Real Estate Investors539 Reviews
Website View Page
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Zac Gronda
Real Estate Agent · Knoxville, TN · Member since 2016 · 14 posts · 29 votes
3y
@Neel Trivedi i live in the Knoxville Tennessee area if you need any help here let me know
0 Reply
Katie MillerPro Member
General Manager, Publishing at BiggerPockets · Denver, CO · Member since 2017 · 463 posts · 642 votes
3y
Hi! Welcome to BiggerPockets and thanks for joining! :)

Here are some tips for networking and making the most of your account.

1) I'd fill out your profile fully before you do anything else! As that will at least help folks that you reach out to know that you are a real person - particularly be sure to include your goals for real estate investing so that folks can help you.

2) Go to the Search bar, and look for some local members in your area! Reach out to a few of the folks, perhaps those with hundreds or thousands of posts in this forum, and connect. You can do that here.

3) Check out some of the local meetups that you can find in this forum! There are so many so be sure to filter by your location.

4) Review this comprehensive 64 page deck on the state of the 2023 housing market for real estate investors put together by Dave Meyer and available for all BiggerPockets members.

5) Consider meeting with a few agents in your area even if you are just getting started! An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do.

6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

Hope this helps! Please reach out with any questions you may have!

Podcast Guest on Show #217
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Joe HammelBusiness Member
Real Estate Agent · Metro Detroit, MI · Member since 2018 · 614 posts · 666 votes
3y
@Neel Trivedi
Welcome,
You’re in the right place (Metro Detroit)
Won’t find better price/roi anywhere else in the country.
Purchase: $80k-$130k
Rent: $1200-$1500
ROI: 10-14%
Cash flow: $250-$350/door
Appreciation: Double digit (for the past 10 years, can send data)
Location: C+, B- (suburbs and certain markets)
We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints. Ever hear of Ford, Rocket mortgage, or Beaumont hospitals? All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.
The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.
[email protected]248-422-1685
FIRE Realty Team - Keller Williams5379 Reviews
Website View Page
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