Newbie from Grand Rapids, MI

7 Replies

Hello there,

My name is Brad Dempsey and I am currently 23 years old.  I discovered this site about a year ago but finally decided to start taking the plunge.  Over the last 2 weeks I would say I have listened to about 40+ hours of the BP podcasts and am learning a whole bunch!  The reason for my wanting to invest would be the idea of being my own boss and my success would depend on how hard I am willing to work.  I am completely new to real estate but am hoping to continue to learn and hopefully jump in on some local houses soon!

Thanks for reading!

@Brad D. Welcome to the world of investing. Grand Rapids is an exciting market. The only thing I would tell new investors are 1: Know your numbers and stay disciplined. If you want a 8-10% CAP don't fudge the numbers to make it work. Take all your cost into consideration. 2: If you see a deal jump on it! Inventory in Grand Rapids sells fast.

If you have any questions feel free to contact me. 

HI @Brad D. - welcome!

There is a great community of investors in Grand Rapids, many of whom are here on BP.  Set your keyword alerts to 'Grand Rapids' and 'Michigan,' and you'll start to see people from our area pop up.

Also, keep the questions coming... people on here tend to be pretty helpful. Keep pushing!

Hey @Brad D. , Welcome to BP.

Congrats on getting started. I'm a newbie as well. I've been diving deep into the podcast as well, a lot of information to gain. I'm more so looking to invest in Southeast Michigan.

Good luck with everything!

Brad:

Welcome to BP! Given the fact you're up in Michigan, I feel I can offer this piece of advice to you without it coming across as a "pitch" for your business.

When you are about to "throw yourself" into this new endeavor or REI, I would strongly recommend you meet with a mortgage/financial professional first. When you meet with him/her, he/she will ask that you share both your short-term AND your long-term goals. Then, he/she will be able to help you construct a plan that will enable you to reach your short-term goals and reap the benefits needed for the proceeds and resources that your long-term goals will require. All too often, new investors either overdevelop or spend their money too fast - both of these behaviors derail their plans and stops them woefully short. If you don't have a mortgage person yet, I would strongly recommend reaching out to a couple of investors you know in your area and asking them for a referral.

I wish you the very best!

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