New and Learning

[Storm Rowles]

Hey everyone! My name is Storm. 

I am just beginning my journey in real estate investing and looking for some advice on some things. I live in south west Michigan and I just graduated with my associates degree. Rather than transferring schools, I decided to follow my dream of starting my own media production company shooting creative video and photo for brands, businesses, and real estate. I have also been studying real estate investing during this time. Reading a lot of bigger pockets books and podcasts absorbing as much as possible. My plan is to build a solid portfolio of long and short term rentals (Preferably in Michigan as I love living here and take pride in investing here) that would provide passive income allowing me to travel and enjoy operating my media business freely. 

My big question at the moment is if I should get my real estate license or not? I feel that not only would it would be a great side hustle to bring in some extra cash flow to invest with, but would be a great networking opportunity as well. 

Another thing I have been searching for in Michigan are more investor meet ups and networking opportunities. I would love to be able to talk with current investors and hear about their experiences with the market in Michigan and how they journey has been. 

Thank you in advance for any replies. Super excited to keep learning and buy my first property in the next year! 

[Kevin Yoder]

Hey Storm, 

Congratulations on your decision to venture into real estate investing- regardless of your ultimate path! 

It sounds like your ultimate goal is to create passive income through real estate in order to allow you to travel and flourish in your media business.  This is a great plan and something that we're instilling in our children as they make decisions on their upcoming career paths. 

I've been a full-time licensed agent for over 21 years.  And I've been an investor for about a decade.  I can tell you that working full-time in real estate has not only afforded me the income to purchase flips and buy and hold real estate, but equally as important, has placed me front and center to numerous deals each and every year. I like to say that we're on the "leading edge of deals".  To explain all the methods by which these deals come my way would be too lengthy and not the point of my response, but I can share that with working with so many clients (Almost 4000) over the course of 20+ years and creating relationships with these people creates opportunities for them to let me know about any properties that they're aware of that are owned by a friend, family member or acquaintance.  Many of my flips have come from a referral from a real estate client. 

Having said this, all of this income, activity and referral opportnities has come from working "full-time" in the business.  Real estate sales is an easy business to get into, but a challenging business to excel at.  I've yet to find someone who "excels" in real estate as a "side-hustle".  There's simply too much to learn, too much to do on a daily basis, and too much to stay on top up with technology, marketing, prospecting, negotating, social media, presenting, and on and on.  In short, I've made millions in real estate sales by virtue of being a full-time (60+ hours/ week), focused, growth-oriented, hard-working agent who's driven to succeed and wakes up every day on a mission to do just this.  This isn't a part-time gig.  

My advice?  Focus your energy, focus and attention on growing the business you truely love, which sounds like your media business. Use your income from that business to fund your real estate deals, (And eventually the other way around) and build passive income.  Build your real estate empire slowly, but methodically.  Set an annual goal for # of doors or passive income desired and/ or needed to get to your "freedom number". (Passive income pays 100% of your monthly bills).  This way, you'll be free to travel and create unencumbered by financial worry or contraints. 

By doing this, you'll be focused and accomplished vs. unfocued, spread out and going after multiple endeavors at a mediocre pace.  

I hope this helps! 

DM me if you'd like to dig deeper on this. 

Kevin Yoder

616-366-2591

Investor & Realtor 

Creator of InfiniteU

“He who chases two rabbits, catches none.”
- Confucius