Portland, MI · Member since 2014 · 2 posts · 0 votes
Hi Everyone,
My name is Brice Furr. I am 32 years old, an engineering student at Michigan State University, and an Army Veteran. Unlike most college students I have already started my life with a family and a home. I have been looking into real estate investing as a means to build wealth while I work as an engineer after graduation. I am solidly skilled in do it yourself home renovation and would like to translate these skills into a buy and hold strategy with single and multi-family units in the Lansing and Portland area. My first move in this direction will likely be renting out my current home after my family upgrades post graduation. I would love to hear from anyone who has tips on turning a starter home into a first rental property.
Looking forward to getting involved in the Lansing investment community
Welcome to the site. I am in GR but venture as far as Portland from time to time. If you have any questions on anything feel free to reach out.
My biggest words of advice for converting your primary to a rental are to not get to emotionally attached. You have to understand that your tenants one day (most likely) will not treat the house like you did. You may have a higher end home with higher end tenants but you have to still take the emotion out of it when you do an inspection and notice things you wouldn't normally approve of (trash, landscaping not perfect, dirty carpets etc.)
I have been through this as I turned my primary into a college rental years ago. It's not a slum but they are also not as meticulous as I once was.
Welcome to the site. I am in GR but venture as far as Portland from time to time. If you have any questions on anything feel free to reach out.
My biggest words of advice for converting your primary to a rental are to not get to emotionally attached. You have to understand that your tenants one day (most likely) will not treat the house like you did. You may have a higher end home with higher end tenants but you have to still take the emotion out of it when you do an inspection and notice things you wouldn't normally approve of (trash, landscaping not perfect, dirty carpets etc.)
I have been through this as I turned my primary into a college rental years ago. It's not a slum but they are also not as meticulous as I once was.
Welcome. Thanks for your service. You might consider student housing see below.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Mason, MI · Member since 2016 · 30 posts · 6 votes
10y
Welcome. I'm in a very similar situation in that I am well skilled in most construction related areas and would love to dive in the property biz. I'm a 37 year old teacher and have Summer's off which is great for a second career. I've built 5 homes acting as the general contractor and completing much of the work myself. Right now I'm figuring out how to get start up capital to purchase my first property. Best of luck. I'd love to chat.