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Updated almost 9 years ago,
Hello BP and Grand Rapids, Michigan members
Hi all, I'm new to the site and real estate. I own a 3 unit in Cherry Hill and a sfh off of college north of town. I am a member of Grand Rapids RPOA which has saved me thousands of dollars with their amazing classes that help everyone from me to the pros (big shout out to those at the RPOA). Through that organization I've learned the power of connections and want to keep mine growing here.
I have a lot to learn from my first two properties. Buying a neglected, 125 year old, 3 unit home in a historic neighborhood as property #1 is dishing me up as much as I can take but you can "swallow an elephant one bite at a time" and that's what I'm doing with that one. The other property is managed and was basically turn-key. I'm not sure what property #3 looks like yet and as my rehab on the historic home continues my finances will start to shape what I'm after. I want it to be a BRRR style project and whether its a SFH or a multi-family I don't know. Either way, I will most likely buy as owner occupant as that has been my plan from the start (typing from my unit in the 3 unit right now) to allow me to leverage my money a bit and hopefully get another live for free property that also throws off cash as well. I just got J Scott's Book on Estimating Rehab Costs and a couple more and I really want to focus on my current property and learn as much as I can before diving into #3. I'd love to hear from anyone here that wants to meet up and talk real estate and bounce things off of each other or shout out to me here.
Thanks!
-Sean