New Member West Michigan Lakeshore (Muskegon, Norton Shores, Spring Lake)

[Ryan Brunworth]

HI all,

I'm a new member from West Michigan.  Looking to connect with fellow investors and start my transition in real estate investing full time.  I have to say I love the site!  Been snooping around the forums, podcasts and its amazing how much info is on here.  Got J Scott's Fix and Flip books and am working my way through both of them. 

A little about me.  I'm currently in healthcare and have a very successful business.  However, I'm not really enjoying it.    I'm formulating a plan to get out of it completely and get my feet (more) wet in real estate.  I'm hoping to walk away from my business with a good chunk of money to get me started.  I realize I have a very stable and strong income right now but I need a change.  Its been a change coming for several years now and I'm getting close. 

I have a little experience with buy and hold however the homes were dirt cheap and in very bad neighborhoods. (I got excited when I cold buy a house for 5k and 7k). I ended up doing that a few times until I had 7 units. 5 SFR and 1 duplex. I just didn't do enough research when I went in the first time. I ended up in the wrong neighborhoods and the tenant pool wasn't great. Mostly convicts, people getting out of halfway houses, section 8 etc. Fortunately I was able to sell most of them and gave a couple away to those in need. In hindsight wasn't the best financial decision I've made but those people needed it a lot more than I. Anyway, I bought but didn't hold ;-) (very long at least)

At this point, I'm just not sure which route to go.  (Maybe this is for different forum- not sure)  Fix and Flip or Buy and Hold (in better neighborhoods)? As an example lets say I walk away from selling my business with $300,000  after all debts have been paid.  I like the fix an flip model and think I can be successful starting with some cash reserves but I'm not certain if I should take the safe route, use this money as down payments to buy and hold (15) $100,000 properties at 20% down?  

Any advice? Thoughts?