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Updated almost 10 years ago,
New from Ann Arbor, MI
Hi, my name is Marcus and I'm just getting into real estate investing. I'm from Ann Arbor, MI. My plan is to become a full-time investor so that I can leave my job(I work in information security... a booming field I know, but I'm tired of being stuck in my office all day) in the next 4 months. That might be a bit ambitious, but I'm hopeful.
So, I'm curious how do you all feel about other investors in your city? I see 141 people from Ann Arbor on BiggerPockets and it freaks me out a little. I've read that you should try to invest within 2 hours of where you live, but seeing so many investors here makes me nervous. How do you all feel about this?
Also, what are some ways a newbie can get a leg up on the competition? I may not be as knowledgeable as others, but are there other areas I could improve that would help me in investing? Something besides learning marketing(I'm studying up on it now), and I'd guess I should learn more about interior design. But is there anything else that might help?
My current strategy is to gain a real estate license, become a wholesaler to learn more about the world of REI, start flipping and get into renting at around the same time. But this could change as I learn more about REI. Any suggestions would be highly appreciated.
By the way, I just read(listened to) Brandon Turner's No Money Down book and I loved it. I'm planning to listen to it again. I've also just started listening to Rich Dad Advisors: ABCs of Real Estate Investing.