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All Forum Posts by: Shane Casad

Shane Casad has started 1 posts and replied 8 times.

Post: My first flip - I broke even

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

@Doug W.

 Thank you for the post. I have to admit it is good to see that not every deal goes as planned and puts thousands of dollars in your pocket as many newbies, like me, may be disillusioned to believe. I'm sorry to see that you didn't put money in your pocket, but glad to see that you gained valuable learning experience from it and will be stronger down the road for it. I have to say, you did an incredible job from looking at the pictures! Good luck on all future deals!

Post: First home investment, foreclosed a good buy or a trap?

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

@Andrew Smith I also have been looking into the same thing. I will be moving out of my apartment in August, and am trying to weigh my options for living. I am a college student at MSU, and considered a live-in flip, or renting out to others to pay my mortgage. Obviously all numbers would have to be right, and I would need to figure out my finances. The alternate to flipping, for me, would be to hold it as a rental. I understand that East Lansing is a completely different market than Pontiac. Best of luck to you!

Post: Are you Pro or Against 401(k)?

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

*Disclaimer* I am only 21, and don't have that much life experience. If anything I say is wrong or if you can provide me with any additional knowledge I would love to hear it. I'm here to learn!

I feel this topic is mostly circumstantial. Whether you are pro or anti 401k depends on your own personal preferences and life situations you are in (as is everything in life)

If you work for a company that provides a match I definitely recommend taking advantage of it, especially if it is a good match. For example, I work for a financial institution here in the Lansing, MI area and they match 200% up to a max 5% contribution I make. However, if your company does not offer this, or you are self-employed and feel that your money can be used elsewhere and make better gains, then do it what makes you happy.

I personally am pro-401k, however. I believe in diversification, as well as taking advantage of the match my employer makes. They are paying me to save. It is a less liquid form of savings, but I think it is important to save for the future. 

Remember, you can also borrow against your 401k if need be (say a really sweet deal comes along) and the benefit of that is you pay yourself back. There are also those qualified reasons for penalty free withdrawals that you can take before the age of 59 1/2. 

I personally chose a Roth 401k because I am in a lower tax bracket, and so I prefer to pay my taxes now rather than later!

Post: Lansing, MI meet-up. Who's in?

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

I should add that if the event was on a Saturday, I believe I could attend anytime at about 4p.m or after.

Post: Lansing, MI meet-up. Who's in?

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

Sorry for the late response @Brian Beadle. I have been very busy with school and starting my new job. I would be very interested in a meeting with a lot of the Lansing/Mid-Michigan local RE enthusiasts. This would be my first experience with something like this so it sounds exciting! As of now my schedule permits things after about 6:30pm. Keep me posted.

Thanks,

Shane

Post: Not quite so new to BP, From East Lansing/Jackson, Michigan

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

Thank you @Dmitriy Fomichenko ! I appreciate the links, I will definitely check them out. I hope that I can meet tons of people and learn a lot of new valuable information. I've already set up a few alerts, for example "michigan". 

Good luck to you in all of your endeavors.

Post: Not quite so new to BP, From East Lansing/Jackson, Michigan

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

@Brett Russell , thank you for the warm welcome!

I'm very familiar with Chelsea, and I stop in frequently. It's a very nice place, and seems to have grown in recent years. I'm assuming people wanting to be near Ann Arbor for work but not live there. 

I will definitely take your advice! Again, thank you.

Post: Not quite so new to BP, From East Lansing/Jackson, Michigan

Shane CasadPosted
  • New to Real Estate
  • Grand Rapids, MI
  • Posts 8
  • Votes 1

Hi there, my name is Shane Casad. I'm a Michigan State student, and originally from Michigan Center( a small town just outside of Jackson). I say "not quite so new to BP" because I have been a member for quite sometime. I've listened to podcasts, read articles, and read some of the BP books. However, I have never formally introduced myself or been active on the site because I was always too nervous to post. I finally decided to take the advice you all have been trying to pound into our heads to TAKE ACTION, so this is my first step. 

I have no formal experience with investing in real estate, although I did work for a contractor one summer for extra work, and he himself owns a few rentals. Right now I'm looking to continue the education process, meet some awesome people with similar interests, and hopefully get some great advice on where to start, etc. 

I'm interested in R.E for many reasons. I feel that investing in R.E is a good option to reach solid financial security, and autonomy. I have always wanted to follow in my grandfather's steps and own my own business and be an entrepreneur, and the one thing I love to learn about, and talk about is R.E. Another reason I am interested in it is that, I feel that investors really can make a difference in the communities in which they operate. Investors can take homes that have been neglected, and bring them back to life which in turn has a positive effect on the area it is in. 

The reason I finally decided to take the plunge and get started interacting is because I see so much opportunity around me. For example, I visited home this last weekend, and a house that has been sitting vacant(I believe) for months, caught my eye. I remembered an article by Ben Leybovich(I think it was Ben, but I'm not 100%) about how he started out by finding a vacant home, finding the owners contact info, calling him that day, making a deal, closed in 2 weeks, and pocketed $20,000. I just seen an opportunity that has been sitting there, and thought to myself "why not me?".

Lastly, a quick, fun story about the first time I discovered the power of R.E:

I was in the 8th grade and sitting in my Social Studies class. We started a long project that would span a few weeks, where we each would be settlers coming from Europe, and making a life for ourselves in America. We each started with the same amount of money, and were given the opportunity to choose to buy land, build houses, own a business(like being a blacksmith, etc.), invest in stocks, and other things. Being the young visionary I was, I took all my money and bought every piece of property I could, built houses, rented them, sold the homes and other parcels of land for higher prices, and at the end of the project a few weeks later, I had the most money in the class. I have been interested in R.E since that day.

So that's a little about me, and I hope to learn more about many of you. 

Thanks for reading,

Shane