All Forum Posts by: Don McQueen

Hey all!

Trying to work on expanding my network of contacts.  Recently upgraded my membership to Pro and have been a member of BP for longer than I can remember.   Looking to connect with contracts, other agents, or investors throughout the community.   Always enjoy reading the posts but thought it was time to get more active in posting.   Feel free to drop me a line to connect and if you are looking for help finding property in West MI I would be there as well.  

Have a great week!

Don

I have seen where people are using a preferred name long with their legal name.  I am totally in favor of people using their given name though as that is what makes us all unique.  

You have to do what you think is best in the end.

Is the current tenant going to stay in the property?    If not, then you can just wait for her to clear out.   All you can do is make the offer to update the paint as part of the increase in the rent especially if the intent is to stay longer term.   If that is not the case, I would hold off on painting.  

Not sure the specific details on your area.   Given the conditions you describe it may be worth running the numbers and exploring the comps if you are looking to cash out.  Have seen low inventory in our area for at least the past 6 - 12 months and it's been a challenge for buyers for sure.    The other thing to consider is your long-term goals and how the numbers stack up for you on the property.   Best of luck.

As Alex mentioned I would definitely start with house hacking.   Would also go get some of the Bigger Pocket books If you haven't already as they are a wealth of knowledge.   My general thinking is that less is always best in the near term.    Map out the big picture dream but then think deeply about all the different steps that you will need to take on your journey.  I enjoy reading through the comments and questions on the forums because it helps me think through thinks I may have missed myself.   Best of luck in your journey.  

Super curious on why you posted on this forum if your note looking towards a real estate play of some sort.   That aside I understand diversifying into various investment classes.   

End of day comes down to your strategy and goals along with your overall appetite risk both long and short term.  Personally, I don't want to sit at my computer trading stocks all day.  While I have enjoyed working my corporate role for the past 15+ years I know that real freedom comes from having an ownership stake in a business.   I don't see a path in my current environment.  Thus, I am transitioning into real estate by starting as a realtor with the long-term target to be an investor / developer.   All of which means that I am spending time both learning and working in the business wherever I can.
 

Given that people are doing more mid term bookings I wonder how will play out on Vrbo/ Abnb etc.   Paying the fees for those multi month terms seems a bit out of line.   Definitely something to that I have been thinking about as I look toward investing in properties.   

I'm in agreement with Randy on this one.    I always look for history and experience in some regard.    Scaling the business as I like to think about it in my "normal" job.    You need to show lenders and partners that you are going to be capable of pulling off such an investment.    Maybe you have some investors or some background that you didn't mention in your note.   Certainly, I appreciate and like the moxy by going big but you may want to consider your foundation and strategy around the long term.  Best of luck in your journey.    

Always worth it to have someone in your corner for a second set of eyes.   Also, this is a perfect chance to start growing your team if investing is in your future.