Greetings from Southeast Michigan!

Greetings from Southeast Michigan!

Investor · South Lyon, MI · Member since 2016 · 19 posts · 6 votes

Hello! I am relatively new to Bigger Pockets but not REI. I had my former underwater home as a rental for four years and following an extensive rehab sold it to exit the deal nearly breakeven despite poor financials. I've been mulling over getting back into REI at some point but always was under the belief I would have to get substantially more assets to do so. After catching up with an old friend (and Pro member here) I realized how short sighted I was being and have so much at my disposal to work with in terms of income from my day job and leverage available to me.

I'm an extremely methodical person which has a tendency to create analysis paralysis but plan on spending the better part of this year putting a solid plan together for my next deal to occur in 2017. I'm relatively risk adverse so want to have contingencies in place and fully understand the actions I'm taking as well as to build a solid team to rely on! 

Currently living in South Lyon, which is a close suburb of Ann Arbor but work all over in Southeast Michigan. Ideally want to identify properties nearby but as I see it now (which is highly limited) there isn't a vibrant rental market where I live now, save for Ann Arbor and that's a hot hot area. All that being said, I haven't nailed down my specific strategy (flipping or renting SFR or MF) or target area yet as that's part of the plan that's being developed!

Cheers!

Stavros

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  • Ann Arbor, MI · Member since 2008 · 90 posts · 20 votes
    10y

    Hi @Stavros

    If you'd like to meet up sometime, I'd be happy to. I am on a similar path as you. Selling my primary residence to free up by DTI and liquidate my equity so I am ready to jump on any opportunity that comes my way. Renting in the meantime. Perhaps we can help each other out in some way.

    Good luck, and congratulations for recognizing all of your legs up.  Having a w-2 job like we do can make life much easier, in some aspects, than the full time investor!

  • Livingston County, MI · Member since 2015 · 88 posts · 23 votes
    10y
    Stavros Bezas there are endless possibilities out there. If one thing didn't work for you then another thing will, seems like you've realized that and that's awesome to hear. There are some great people on here and local meetups near by to learn from. Be sure to checkout the meetup app. I work in South lyon at the steel mill if you'd like to connect sometime feel free to reach out. Good luck to you and happy investing!!!
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