Newbie from metro Detroit area Michigan

Taylor Michigan · Member since 2020 · 3 posts · 4 votes

Hi, I'm new to BP. I found it by reading Brandon's book. Well 2 of them actually. Anyway I am completely new to real estate. I know absolutly nothing outside of what I have read in those books and am going to have to re read them because I know that I missed a lot. Right now I am an appliance repair technician but previously was a commercial installer of cameras, alarms, sound masking and a lot of other things. My goals were originally to get single family homes and rent them out but now I'm thinking of doing small multi family I haven't quite made my mind up yet.

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Wendy PattonBusiness Member
Real Estate Consultant · Clarkston, MI · Member since 2009 · 859 posts · 350 votes
6y
Welcome and this group/forum is here to help you out. What type of investing do you want to do?
Michigan Real Estate Investors533 Reviews
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Tanner Williams
OP
Taylor Michigan · Member since 2020 · 3 posts · 4 votes
6y
Eventually I want to get into buy and hold investing but I have to find a way to fund at least a down payment. So I was thinking maybe starting off with wholesale or something until I at least save up enough. But I am up to any advice that anyone can give me to start.
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Kimberly VallancePro Member
Member since 2018 · 46 posts · 12 votes
6y
Welcome!
Look up your local real estate investment groups. There are some really good meetings locally where you can get some good information as well as network with people actively investing. You can ask questions and learn about deals other people are doing so you can learn what they are looking for. Then you either do the deal or bird dog it (find it then offer it to another investor for a finders fee). rinse and repeat.
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Julio R Gonzalez
New to Real Estate · Costa Rica · Member since 2019 · 62 posts · 16 votes
6y
@Tanner Williams
I’m in the same boat man. I want to do rentals for passive income but don’t have the capital to start. I also am considering other ways to generate this capital (aside from my day to day work job) and wholesale seems promising.
I'm planning on doing a pros and cons of all the "niches" as the BP guys call it in the books so if you or anybody wants to give some pros and cons for a guy trying to get into REI the right way!
Thanks
JRG
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David BowlesPro Member
Rental Property Investor · Davison, MI · Member since 2019 · 76 posts · 24 votes
6y
@Tanner Williams Welcome to BP!!! Many here are in the same boat as you, including myself. I’m a field service engineer looking at getting into real estate as well!
I think the first big recommendation you will get from most is to look into local real estate clubs. There is a group on Facebook for “metro Detroit real estate” and also a group “MREI” which I believe is ran by @Wendy Patton. Make sure to check that out as well!
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David BowlesPro Member
Rental Property Investor · Davison, MI · Member since 2019 · 76 posts · 24 votes
6y
@Tanner Williams It’s also helpful to set up keyword alerts in the app so you can follow discussions. For instance, look at EVERY forum post that includes the words Michigan, Genesee (the county I want to invest in), and Davison (my home city). That will start getting you familiar with who is active on BP in your area. From there, you can reach out to people directly to start building your network. I am just now starting to build my network.
It’s nice to have people to talk to that aren’t going to tell you how “risky” real estate is, or how “you’re making a mistake” by getting into it.
These forums are great and you will find a ton of folks looking to help you out.
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Ramon HuertaPro Member
Real Estate Agent · Kalamazoo, MI · Member since 2016 · 223 posts · 26 votes
6y
@Tanner Williams i would recommend attending real estate meetups and start networking and learn more about your local market. You will make good connections and find help. Let me know if you would like me to make some introductions.
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
6y
@Tanner Williams: the more real estate events you attend, the faster things will happen for you!
Besides MREI, try REIA of Oakland, Macomb REIA and Renegade Detroit Investors.
[email protected]248-209-6824
Logical Property Management4.9458 Reviews
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Saravanan Saravanan
Lender · Troy, MI · Member since 2019 · 432 posts · 147 votes
6y
@Tanner Williams
Welcome to the world of Real estate investing. Limitless opportunities abound.
Network with local REIA meet up groups of different kind. Soak up and make Year 2020 count for you and your family.
Hope we get a chance to meet in one of the meet ups!
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Tanner Williams
OP
Taylor Michigan · Member since 2020 · 3 posts · 4 votes
6y
Thank you all. I had no Idea that there were Facebook groups for this (although I should of because theres a group for everything). I just never really thought about it. I had no idea there were so many people local to me. Now to go join them and find a meet up hopefully not to far away.
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Dmitriy Fomichenko
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
6y
@Tanner Williams

Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:

Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: https://www.biggerpockets.com/podcast

If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

Wishing you the best!
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Joshua DubkePro Member
Riverview, MI · Member since 2019 · 11 posts · 4 votes
6y
Hey Tanner! I am right in riverview, one of your city neighbors. I am intrigued by finding local meet ups but most seem far from us. Let's try to get one going around us! Also a beginner here trying to build capital at same time as paying for a wedding!
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Justin WindhamPro Member
Banker · Nationwide · Member since 2015 · 4k+ posts · 1k+ votes
6y
@Tanner Williams

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

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