Hello, fellow BP members, Detroit investor here relocating to WI

[Neil Jarman]

Hello everyone,

I'd like to start by thanking everyone at Bigger Pockets for creating this resource. In the past month that I've listened to the podcast, I have transitioned from tentatively considering real estate investment to fully committing myself.

I began as an unwitting investor in Detroit when my girlfriend (now fiancé) and I moved there to buy a house in the property auction. After months of searching, we found a 4 bedroom two story on a corner lot for $500. We spent a couple years learning how to renovate a home, then left the city and left our home in the care of tenants. I fell in love with the whole process, and will be making this my career. I have held many jobs (currently working as a crew lead in commercial construction), and it turns out that I LOVE the hustle! After reaching out to family and friends, I found investment money and a possible partnership.  

We are currently in the Madison area, "house hacking" in a sense-- property managing a home for a friend while living there and maintaining tenants while a portion of our income from the Detroit house pays our rent. My plan is to meet with a few fellow investors in the area, get a sense for what is available, connect with contractors and find my first flip. I would like to remodel and sell a few to earn capital for wholesale deals, then start building my rental portfolio. I intend to utilize the resources on this site for everything they're worth (priceless!) build teams and provide homes to a niche market. After taking small, low cost steps to add value to our Detroit home (in-ceiling speakers, HDMI cable runs from wall jacks, ethernet hookups in every bedroom), I notice that our tenants really appreciate these amenities and I see the results in how smoothly everything else has gone with the relationship.

If anyone would like advice on investing in Detroit, I am happy to share our successes and struggles. It's a rough city that requires active involvement. I also look forward to connecting with all of you in my current market to share resources and information. 

Best regards,

Neil