SoCal investing in Southeast Michigan

7 Replies

Greetings!  I'm new to Bigger Pockets and just wanted to say thanks to everyone on here for all the incredible information.  I've learned so much in just the last few weeks listening to podcasts, reading the forums, using the free tools, etc.  I live in Southern California and I'm actively looking for single family or small multi-family buy & hold deals in my hometown area of Southeast Michigan.  Thanks!

Welcome! If you choose to invest out State (which I would NOT recommend) then my advice would be to focus your time and energy on finding and building your team out of State. Make sure you have identified and are 100% comfortable with each and every one of them (realtor, general contractor, property management, etc.) before you even start to think about finding an investment property. Your boots on the ground will make or break your investment. If your team turns out to be lousy, it doesn't matter how good of a deal you find, you are going to have a bad time with it. Ask me how I know this :). Good luck!

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Hi Brian,

I live in St. Clair Shores. We are a wholesale company. I would be interested in speaking with you more about building your team back home in Southeast Michigan. I know the area well. I've been here my whole life. Lol. Let's chat and work on building something great. There's a lot of opportunity in the metro Detroit area. We can discuss our inventory and see if any of the properties we are working on would be of interest to you.

Talk soon!

Mike

Originally posted by @David Faulkner :

Welcome! If you choose to invest out State (which I would NOT recommend) then my advice would be to focus your time and energy on finding and building your team out of State. Make sure you have identified and are 100% comfortable with each and every one of them (realtor, general contractor, property management, etc.) before you even start to think about finding an investment property. Your boots on the ground will make or break your investment. If your team turns out to be lousy, it doesn't matter how good of a deal you find, you are going to have a bad time with it. Ask me how I know this :). Good luck!

Thanks David, I agree.  I do however have a team in place.  I grew up in the area and still have family there helping with everything.  My contractor is family as well, so bonus there.  Definitely great advice for anyone looking to invest out of state though.

@Brian Godlewski That is great news!  The other David and I are generally on the same page when it comes to out of state investing.  As a Californian, I understand the obstacles you are trying to overcome.  The only time I would go out of state is if you have a good team and/or family that can take care of issues as they arise (assuming they are okay with this).

Cheers!

I have a good property manager in place as well.  Speaking of which, does anyone have any experience with Castle Property Management?  I hear mostly good things about them, but there's the couple really bad things I have read as well.

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