Hello from West Michigan

Hello from West Michigan

Andrew RussellPro Member
Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes

Hi all!

My wife and I are a couple of newbies from West Michigan (Grand Rapids area). We are ready to turn our desire into commitment and actually get started. Our long term goal is not just financial freedom for ourselves, but a business which can provide generational wealth for our family long after we are gone. In the shorter term, we are still working to find our first deal. Buy and hold rental properties are our focus, but we certainly wont shy away from others given the right situation once we gain a footing.

We've known we wanted to use REI as the vehicle to reach our long term goals for a while, but we haven't really been commited to making that happen until recently (not coincidentally, happens to be about the time we discovered BP!). Definitely wish we would have came here sooner, learning about this BRRRR strategy blew my mind and is absolutely something we will be employing.

We've been watching all the webinars, reading the forums and blogs & listening to the podcasts every day, soaking in all the information so we can learn & grow. Looking forward to having the support of this great community as we make our first deal and every one afterwards.

We have preapproved financing, an agent, two markets & the types of properties we are looking for all lined up and picked out. Currently, we spend about an hour a day analyzing deals in those two local markets. Everything so far has been through our agent & the MLS portal. Just this week we began "driving for dollars" (another stategy we just learned about thanks to BP!) and will be sending out some direct mail to those property owners. We would definitely appreciate any reccomended wholesalers working with the Grand Rapids and Kalamazoo areas.

Anyway, it is great to be here, we are looking forward to connecting & growing with this amazing community!

Andrew & Lauren

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  • Residential Real Estate Agent · Grand Rapids, MI · Member since 2013 · 803 posts · 689 votes
    7y

    @Andrew Russell welcome to the site. This is the best resource I have ever found for a newer investor. Also, the local community is great and full of people with experience and information. Don't get stuck on analyzing properties (a reference to your other post) and focus on finding properties that have great potential. The best properties I have ever purchased didn't cash flow on paper from day 1 but exceeded expectations after a little rehab and new tenants with time. Some people get stuck with the numbers on what its worth today and what it rents for now but look out to what the future numbers are going to be and it may open up your options. Good luck

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    7y

    Thanks @Jake Thomas! Trying to not be too conservative, to the point where we never make a move, but also dont want to rush into something just to get started and get it wrong.

    I'm sure we will learn a ton after the first property is said and done. Just got to get it done!

  • Wendy PattonBusiness Member
    Real Estate Consultant · Clarkston, MI · Member since 2009 · 859 posts · 349 votes
    7y
    Welcome i am from Detroit area! 
    Michigan Real Estate Investors533 Reviews
  • Rental Property Investor · Erie, CO · Member since 2017 · 34 posts · 13 votes
    7y

    Welcome @Andrew Russell! You’re in the right place!

  • Lender · Grand Rapids, MI · Member since 2018 · 703 posts · 446 votes
    7y

    welcome to the site.  Best of luck on your adventure

  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    7y

    Welcome to BP Andrew and best of luck investing!

  • Rental Property Investor · Holland MI · Member since 2014 · 79 posts · 27 votes
    7y

    Welcome Andrew! I live in Holland currently and have been investing in buy and hold properties in GR, Kalamazoo and Holland for 3 years. Things are going phenomenally well so far. Let's connect sometime! Let me know if I can be of help as you get the ball rolling on your goals.

  • Investor · Denver, CO · Member since 2019 · 41 posts · 29 votes
    7y

    Good Morning,

    I'm new to BP and in a similar boat to Andrew. My REI journey began about two years ago when I house hacked my first home in Zeeland, MI. Since then, I've used the same approach to flip two more houses in the GR area and am currently doing the same with my fourth house on Gun Lake.

    Up until this point, house flipping was more of a hobby and means to make extra money. However, I'm ready to turn this into a scalable business by implementing the BRRRR strategy and moving into rentals.

    Though I'm not confined to a single city, Kalamazoo is my current target area so I would be interested in hearing what a seasoned investor has to say about neighborhoods to pursue and visa versa with areas to avoid.

    Sorry, Andrew. I Don't mean to hijack your post but I figured any responses had the potential to benefit both of us. 

    All the best,

  • Specialist · Carlsbad, CA · Member since 2018 · 1k+ posts · 638 votes
    7y

    Welcome to Biggerpockets Andrew!

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    6y

    @Wendy Patton, @Dave Thomson, @Tim Johnson, @Ryan Kuja, @Ehsan Rishat

    Thank you all for the warm welcome guys!! Truly appreciated!

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    6y

    Thanks @Andrew Syrios!! I just watched one of your you tube posts a week ago on rehab estimates, good stuff!!

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    6y

    @Brian Fiorillo, best of luck Brian!

  • Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    6y

    Welcome to bigger pockets. I live in Georgia now but spent the first 40 years of my life in west MI. I still get up that way a couple times a year. (Grandville, Wyoming, etc) Still have some family there.

  • Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    6y

    Welcome.  We have been at this for about three years, investing in Northwest Ohio, where I am intimately familiar with, but I was talking to a peer recently about Grand Rapids, as we attempt to seek investors for our next opportunity. 

    What size of properties are you looking at, Single Family or Multi? 

    Happy to share any experience if you need it.  I'd like to learn more about Grand Rapids, maybe take a ride out there in the next few weeks or so (I'm on the other side of the state).  

  • Investor · Chattanooga, TN · Member since 2016 · 676 posts · 543 votes
    6y

    @Andrew Russell welcome to BP. I'm in Chattanooga TN but from GR I have units in MI TN GA and KY. BP is a great site. My best advise is just jump in. My biggest regret is waiting too long to get started

    Let me know if I can be of any help to you.

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    6y

    Awesome @John Teachout. I grew up in Grandville. Do you have any properties in the west michigan area?

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    6y

    Thanks @Jeffrey Holst, I appreciate that advice. We haven't found a bunch of deals that analyze with great cashflow yet. I did find a couple early on, kicking myself for not jumping on them. Won't make that mistake again!

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    6y

    Hey @Christopher B., looking at multi units in GR, SFH in Kzoo. Look me up when you come to town, maybe we can connect.

  • Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    6y

    Thanks @Andrew Russell , I will do that.  

  • Rental Property Investor · Holland MI · Member since 2014 · 79 posts · 27 votes
    6y

    @Brian Fiorillo I'm a big fan of Kalamazoo myself. We have one SFR in Vine neighborhood, the student area to the east of WMU. Ive looked at properties all over the city. Lately, Ive been interested in the Stuart neighborhood. Anyway, Id be up for connecting further regarding Kalamazoo.

  • Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    6y
    Originally posted by @Andrew Russell:

    Awesome @John Teachout. I grew up in Grandville. Do you have any properties in the west michigan area?

    We don't have any MI properties. I had some acreage in northern MI but just sold it last month. I'm from the Hudsonville area and my wife grew up in Wyoming close to the armory. My sister lives really close to the Rivertown Crossings Mall. We lived in the Galewood area of Wyoming for 10 years but sold that house when we moved to Georgia back in 1998.

  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    6y
    Originally posted by @Andrew Russell:

    Thanks @Andrew Syrios!! I just watched one of your you tube posts a week ago on rehab estimates, good stuff!!

     Thanks Andrew, I'm glad you found them helpful

  • Doylestown, PA · Member since 2018 · 19 posts · 5 votes
    6y

    Hi, Andrew.  I am from out-of-state but have some interest in the Grand Rapids area.  We have close friends that live in the area.  I am coming out there in a couple of weeks for a wedding (Oct 11-13).  Let me know if you would be interested in grabbing a drink or coffee to see if there is any common interests to work together.  

    David

  • Andrew RussellPro Member
    OP
    Rental Property Investor · Grand Rapids, MI · Member since 2019 · 26 posts · 13 votes
    6y

    @David Burton, I'll be around, send me a note and we can try to meet up!

  • Specialist · Grand Rapids, MI · Member since 2016 · 1k+ posts · 611 votes
    6y

    @Andrew Russell

    Welcome Andrew. If you want to be on our list send me a PM. We do pocket listings more but will wholesale as well.

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