Longtime lurker from Michigan (Lansing)

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Longtime lurker from Michigan (Lansing)

Alex Porrett
Lansing, MI · Member since 2016 · 7 posts · 4 votes

Hello BP, I'm Alex.

Since becoming a member of BiggerPockets last July, I've spent countless hours listening to the BP podcasts, reading the BP books, and using the MLS and other resources to learn more about my market. Unfortunately, you can only learn so much from the latter, so I'm reaching out to you guys for some assistance.

I'm originally from the east side of the state (Port Huron) but moved to Lansing after college to work as a policy adviser in state government. I've never owned real estate, but I'm very interested in house hacking for my first purchase. My goal is to buy a house before my lease is up in September - though I'm hoping it doesn't take that long.  

Here are some of my questions: 

1. Can you recommend a real estate agent that is friendly to newbie investors?

2. Are there an abnormally high amount of rental vacancies in the area right now? Do you have any trouble filling your vacancies? Is the 1bed/1bath unit market oversaturated? 

3. Are there any networking events in the area? 

4. Are there a lot of wholesalers around Lansing? 


If you have any additional advice please don't hesitate to contact me.

Thanks!

1Reply
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Most Popular Reply

Aaron Kite
Investor · Lansing, MI · Member since 2011 · 19 posts · 19 votes
9y

I suggest start meeting people. Go to the real estate meetups. There is a meeting next Thursday.

1Reply
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14 Replies

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  • Aaron Kite
    Investor · Lansing, MI · Member since 2011 · 19 posts · 19 votes
    9y

    I suggest start meeting people. Go to the real estate meetups. There is a meeting next Thursday.

    1Reply
  • Alex Porrett
    OP
    Lansing, MI · Member since 2016 · 7 posts · 4 votes
    9y

    Thanks for the reply! Do you have a link to the meetup info? 

    0Reply
  • Keri Middaugh
    Rental Property Investor · Ypsilanti, MI · Member since 2016 · 230 posts · 86 votes
    9y

    HI Alex,  I go to the meetup in Ann Arbor on Tuesdays, and sometimes there are investors there from Lansing.  I also know a wholesaler who works in the Lansing area, but I'm not sure if he's on BP.  I'll PM you his name.

    Best wishes,

    Keri (investing in Ypsilanti, Taylor, and beyond)

    0Reply
  • Adam Buchholz
    Lansing, MI · Member since 2016 · 6 posts · 0 votes
    9y

    Hi Alex,

    I'm a new investor in Lansing as well and I'll be closing on my first duplex in a few weeks. I've gotten the impression that it's pretty easy to find tenants in Lansing, but I'll find out soon. My realtor is Jason Vansickle, and I'd highly recommend him to anyone looking to buy a home, including investments. He is a landlord as well and shares a lot of advice.

    Here's a link to the meetup Aaron mentioned. I attended last month and had a great time. http://meetu.ps/e/CzP9C/zkJ57/d

    0Reply
  • Account Closed
    Investor · Okemos, MI · Member since 2014 · 23 posts · 10 votes
    9y

    Hi Alex - 

    No problem filling vacancies here in Lansing. Look at the big apartment complexes and see how good their move in deals and referral specials are.  If they are offering 2 months free and no security deposit you know you have a vacancy problem.  

    I'm here in Lansing too.  Pm me and let's get a beer and talk real estate. 

    0Reply
  • Robert Orel
    Investor · Lansing, MI · Member since 2014 · 27 posts · 9 votes
    9y
    Hi Alex. I have several rentals here in the Lansing area as well and seem to have no problems filling vacancies. I do notice my cheaper rentals bring in a lot more applications. Most of the time I hold open houses due to the amount of interest I get from adds on Craigslist. I haven't been to the local Meetup yet but it's on my to do list I'm sure that's a great place for a newer investor to go for great information! If you have any questions feel free to ask! Happy investing!
    0Reply
  • Scott Matthew C.
    Real Estate Broker · MI · Member since 2014 · 594 posts · 183 votes
    9y
    Welcome Alex Porrett glad you can join us. If you're in the Ann Arbor area come checkout our REIA. We have a few Lansing Investors that make the trip every month. I hope to MeetUp with you. All the best.
    0Reply
  • Joe Doman
    Investor · Canton, MI · Member since 2014 · 132 posts · 32 votes
    9y

    Where can I find details on the Ann Arbor REIA group or any other meetups in se michigan? I am interested in joining. Thanks!!

    0Reply
  • Douglass Benson
    Investor · Mason, MI · Member since 2014 · 151 posts · 152 votes
    9y

    http://www.lmgtfy.com/?q=Ann+Arbor+REIA

    0Reply
  • Douglass Benson
    Investor · Mason, MI · Member since 2014 · 151 posts · 152 votes
    9y
    Originally posted by @Alex Porrett:

    Hello BP, I'm Alex.

    Since becoming a member of BiggerPockets last July, I've spent countless hours listening to the BP podcasts, reading the BP books, and using the MLS and other resources to learn more about my market. Unfortunately, you can only learn so much from the latter, so I'm reaching out to you guys for some assistance.

    I'm originally from the east side of the state (Port Huron) but moved to Lansing after college to work as a policy adviser in state government. I've never owned real estate, but I'm very interested in house hacking for my first purchase. My goal is to buy a house before my lease is up in September - though I'm hoping it doesn't take that long.  

    Here are some of my questions: 

    1. Can you recommend a real estate agent that is friendly to newbie investors?

    2. Are there an abnormally high amount of rental vacancies in the area right now? Do you have any trouble filling your vacancies? Is the 1bed/1bath unit market oversaturated? 

    3. Are there any networking events in the area? 

    4. Are there a lot of wholesalers around Lansing? 


    If you have any additional advice please don't hesitate to contact me.

    Thanks!

    Welcome Alex. I only own apartments in the Lansing area, but so far am having no problems renting them. My rents are probably too low. Anyway, pay attention to Aaron as he owns a lot of SFH in Lansing and knows of what he speaks.

    1. As far as a realtor, I would contact Cassandra Shively (http://www.tomieraines.com/Agents/Cassie-Shively) for three reasons - 1) she is my daughter and her help in selling my last couple of flip houses was AWESOME! 2) She is an investor herself and has helped many investors purchase single family houses and duplexes in the Lansing, Holt and Mason area. 3) She was among the top 10 Sales Leaders for her Real Estate Company - Brookshire Hathaway Tomie Raines.  

    2. There is Lansing REIA that meets up monthly. Their facebook page is here - https://www.facebook.com/groups/949307535162410/

    3.  Keep reading Bigger Pockets!

    0Reply
  • David Hall
    Real Estate Agent · Lansing, MI · Member since 2016 · 143 posts · 78 votes
    9y

    Welcome Alex.  I am a local investor, property manager and real estate agent.  My answers to your questions are below.  Let me know if you are available to meet for coffee sometime in the next couple days,  I'd be happy to discuss your plans and next steps. 

    1. I am a licensed realtor with Coldwell Banker.  I also am an active investors.  Most agents don't know a good deal when they see one and I would always recommend if you are looking to buy investment properties that you use an agent who has investment experience.

    2. No abnormally high vacancies.  I would always steer towards 2 bedrooms as a minimum as 1 bedrooms are a bit harder to rent.  But again, all my 1 bedroom units are full with longer term tenants, the demand just isn't as high.

    3. I would recommend the Lansing Real Estate Investors Group.  It's free and you can look them up on facebook or meetup.com

    4. I've only met a handful of wholesalers. I haven't done any deals with any of them as often the deals they have to offer aren't too much better than deals you can find on a typical day on the MLS.

    0Reply
  • Kyle Nelson
    Lansing, MI · Member since 2015 · 18 posts · 2 votes
    9y
    Hello Alex, I'm a lot like you. I have been listening to all the podcasts, browsing the forums, and reading all the books and I'm ready to house hack. I'm currently working with an agent trying to get my first deal. I hope to meet with you in the future and discuss real estate. Good luck on the hunt! -Kyle
    0Reply
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