All Forum Posts by: Donvier Laffitte

The Practice Of Management by Peter Drucker is a classic. Who Moved My Cheese? is also a very famous one.

Thanks again everyone, especially for all the recommendations. I have read through the beginners guide, and chased a few rabbit holes linked from that. Now starting on a handful of the items covered in last night's webinar. Really looking forward to getting started! 

I actually had signed up for a local REI meet up group, but have had to work through all of the meetings. I have since changed my schedule around to accommodate that, so I should be able to make the next one.

I appreciate all the replies everyone, and apologize for the delayed response (busy day). I also agree with your sentiments, and realistically is probably what I'll end up doing. I'd much rather be in a position to lay eyes on the property, and of course gain the experience of being more directly involved. Not to mention I tend to lean pretty heavily on DIY, which is difficult a couple thousand miles away.

As far as my reasoning... I'd say by rank of priority:

1. I have some disabled family members living in a single family I have out in Utah. It would be a bit more convenient to be within driving distance to manage some of that.
2. I don't handle the winters particularly well here
3. I was born and raised in Phoenix, so I'm a bit of a desert dweller in general (though this kind of plays into #2).

All that said, I will likely heed your wisdom and end up starting operations here and deal with spreading out when that time comes. I am very well rooted here, and as you mentioned the market here has significantly turned around over the last few years (fortunately and unfortunately for me I guess?). I'll certainly do some more research and reach out to one or more of you!

Good Morning Everyone,

Another new guy here. Looking to get into multi-family properties (at least initially). I just stumbled across this site a couple weeks ago, and have been looking through as much of the information as I can. It really seems like there's a tremendous amount of resources here, and I'm excited to get started!

While still building my plan, I've primarily decided to go after 4ish-plexes simply due to the intricacies of financing, and the cost barrier to get in the door on larger. My one concern that I've been reading opinions on (and feel free to add yours) is that I don't intend to stay in Grand Rapids long term (preferably relocating within the next year or two). That being the case, I have been looking at investing out west, mainly Arizona/Nevada area as I intend to end up (and am originally from) that area of the country. Realizing this adds a decent amount of risk to the situation, especially being a first timer, I've also considered just getting in the game locally and then worrying about spreading out later. Still a bit on the fence with all that. 

I am currently a software developer by trade, and my background is almost entirely IT (consulting, implementation, training). I have a decent amount of startup capital, and my day job pays well enough to help fund my RE endeavors. My eventual goal is to create enough passive income to have the opportunity of pursuing investing full time, or even added safety for pursuing self employment of any sort.

Looking forward to getting to know the community, and of course getting started!