New investor in Kalamazoo

[Brian E.]

Hello everyone,

I'm a new investor in Kalamazoo, MI with an eye on acquiring my first buy-and-hold property this year.  I've just finished the UBG guide and am now soaking up as much information as possible.  I'd like to connect with local investors and get to know some of you better.  

I've been a full-time software developer for the past 16 years, and would like to slowly replace my day job with passive income from real estate investments.

[Michael Lee]

Hello and welcome to BP!  I have never been to Michigan and probably will stay mostly in Texas while I am still alive.  Buy and Hold units are a long term investment and, hopefully, good.  Always do the numbers on your deals and try to look at them before you offer or at least add a clause to the sales contract that allows you some time ( around 15 days ) that does not charge you when you back outl. Hire/Get a team of people that will help you prepare and do things for you.  The typical, local, experienced, and trustworthy Team members are Attornies, Real Estate Agents, CPA's (or accountants), Inspectors, and General Contractors.  When you close you get insurance right after you close to protect you if there is a loss.  Also, as soon as you can  after a close, change the exterior door locks.  If the locks are still in good shape just install them at another address.  Just keep on going no matter what.  I have heard about mistakes and fear are normal.  Just learn from your mistakes and,  if you ve had any fear, try to turn it positive.

I am 59 years old and I found BP about 7 months ago and I don't know what I want to do.  I went to college, not that it is mandatory, and I got a college degree in business that emphasized real estate.  Since I was in Texas and planned on staying there,, I got a broker license without taking anything extra.  Regardless of what I had I felt more comfortable in the construction business.  I have been in the construction business since I was 17.  I did close a few deals for other people. My father has been in real estate for about 40 years and he has taught me a little bit.  If you think that I can help you please contact me through BP at any time.  Good luck!