All Forum Posts by: Kevin Lewis

thanks a lot everyone. I had to pass on this one due to the roofing uncertainty I'm still looking for that first deal. I learned a lot in the process so I'm down but definitely not out! Good luck everyone, I'm looking forward to hearing about your next deals soon.

New revelation:sellers disclosure says roof has leaked and was repaired in 2013. It's 15 years old. Anybody have information on roof replacement costs??

Ok, that was what I was thinking I could get due to it being a lot nicer than most of the others in the neighbohood but I'll take your experience over my estimation any day. The 13 mile house has been previously rented for 1100. I've got an offer in on the 13 mile house. thanks everyone.

The 11 mile house is nicer but this is my first deal and I don't know much about the rent difference in location. It has a basement and 2 car attached garage on a huge lot. Thanks for your help.

I think I've found some deals but I want to seek the wise counsel of BP to see what you all think. Those that know the Madison heights area will know a little bit more about the location. Here's the situation: Two houses, one just north of 11 mile for 85k, the other is just south of 13 mile for 89k. 11 mile house has a little more to offer in amenities but they will rent close to the same due to the better location of 13 mile. I'm really wondering if this all adds up for either I them. Here are the numbers. (I'm assuming all the same numbers for either property. The differentiator is only the location. Let me know if you think that makes sense to do.) Purchase price 85,000 Mortgage. 365 Taxes. 175 Insurance. 100 Maintenance. 110 Vacancy 110 Total. 860 Rent. 1100 Cash flow. 240 cash flow. What do you guys think? Does this make sense?

Thanks Jeromie! I haven't been able to listen to any of the podcasts yet but I do plan to as I start to balance my schedule to account for this new desire I have for learning REI. If the desire to crunch numbers, learn, and make money qualifies as a nerd you can throw me under that bus all day! (I know I'm a nerd and my wife and family have confirmed it so I'm just going to let it be! )

Since we're pretty much the same person (figuratively, of course) I'll try to keep you posted on my new adventures as they come up and I'll be sure to keep up with how you're REI adventure proceeds as well.

Thanks for the comment; it's always good to know there are others like you pursuing the same goals!! I'll meet you at the top!!

Thanks everyone for your warm welcome. I'm looking forward to getting to know more people who are involved in REI here in Michigan and in the BP community.

Thanks Joe for the link to your housing reports. That will prove useful in the future and hopefully I'll see you around.

Aaron, many deals have you been able to make in 2 years so that you'll be ready to quit in 2016! Sounds like you have been pretty busy. I was able to take a look at your website too! Very impressive; can you comment on how that has helped you and also about what time you decided that you need the site?

Hello Biggerpockets,

I'm Kevin and I've recently gotten really intrigued by the wealth growing power of real estate. I've been reading 3-4 books a week in my spare time to learn as much as I could about the business. (All the books I've read were from the thrift store as I was just trying to get a general overview from multiple perspectives. Some were better than others, but they all led me to the same conclusion, "Real estate investing is a serious wealth building tool that has gone under my radar for way too long!") Thanks, Brandon Turner for you recent post with some of your top real estate books! I can't wait to get my hands on some more information about real estate investing and the different winning strategies. While I'm saving up for my first purchase I want to learn as much as possible! (I'm hoping to get started within the next 6-10 months.)

I'm a recent engineering grad so I love all of the number crunching. My goal is to use my income from my job to supplement some real estate investing until I can accumulate enough passive income to quit and enjoy the freedom to be with my family.

I look forward to engaging with some of the members here and especially the ones from Michigan!!