All Forum Posts by: Saravanan Saravanan

@Tiwana Merritt

Welcome to real estate where sky is the limit.  Dream big and chase it.

Best wishes in soaking knowledge with your "10 acres of farmland in rural Georgia" as your starting point

@Nicholas Daniels

Your goal is not wrong.  I meant to say is that "thinks has to be adjusted as you move along". 

Personally, I learnt more when things went wrong, than everything was touch of gold.  I have been through; unfortunate situations during THREE recessions in last 30 years (1990's; 2000's and 2007's).  

Good luck and keep growing.

@Mel Kline

It is generally easier to manage things when the property is within a 10 to 20-mile radius of where you live.  This is what I have learned and seen from the success/failure of fellow investors over the years.  

Maybe if you developed a strong team; then there is a possibility things can be operated from far.

@Nicholas Daniels

I used to live on $400 to $500/month as a single about 25 years ago.  Had different goal...and as I grew and start to learn more about life :) the thought process gets shifted for the better. So, I can relate to where you are coming from.

It is a good goal to start with.  However, as time progresses; you would learn more and the goals might change.  It is not just passive income that you depend on for retirement; you should also have a sizeable asset base.  These are based on the person's needs, wants, family commitments, health, obligations to spouse-kids, and many other factors.

Keep this as a first milestone and move forward. 

@Dominque Echenique

There are Michigan based local hard money and private money lenders like us.  We are not that far from where your focus of business is.

Explore all options and see who fits your needs well.

It is important that you know all the costs involved in funding the transactions; so there is no big surprises at the day of closing with the lender whom you choose from.

Good luck

@Ragnar Lothbrok

It may be safer to speak with a local attorney who specializes in landlord evictions. If possible try to reach out to the state of Michigan in Lansing.

Sometimes overdoing in the grey area of landlord-tenant law; might fire back in the wrong direction.

Good luck

@Jeremy Goodman

Have seen upswings and also painfully been through handful of down turns of real estate and stock market.

I have started with my first vacant land registered on 14-Sep-1994 as owner on records.

@Jeremy Goodman

Welcome to Real estate.  This is an interesting business with many different possibilities. Sky it the limit.

See what fits you well.

There are local meet up groups, you can meet fellow RE folks as well.

Good luck

@Aaron Olsen

You can always start small and scale up as the needs grow bigger and evolve. This way you have your costs adjusted based on income and assets; that gets build along the way.

Good luck

Scott, Joshua are local here to work with. 

@Laura Bowler Congratulations on your rental that you managed to work along with your full-time career.

Continue your journey to add one at a time and before you know it, the part-time income might surpass your full time.

We have handful of properties in Inkster too :)