New real estate investor, Warren Michigan - Single/Multi Family

[Jacob Sandlin]

Hello BiggerPockets!

My name is Jacob Sandlin, I have always entertained the idea of making my money work for me ever since my grandfather explained the concept to me when I was young. I soon became side-tracked and opened a martial arts school with some acquaintances. The experience taught me many things about business, especially the value of wisely choosing business partners.

As I put that to the side I decided to get married to my beautiful bride Fiona. We are both highly family orientated and wanted to make our own. Now, with a baby on the way I figure it was about time to create a better financial future for my family and me. May not have been the best time to start investing but certainly better today than tomorrow.

My wife and I have started to budget our money using a few savings accounts. I was always interested in purchasing real estate to grow our money. As I started scouring the internet for information, I naturally came across the BiggerPockets tutorials and then their podcasts and then their community. After listening for quite a bit I thought it was time to introduce myself and get things started.

My goal is to achieve $72,000 in ‘passive cash’ yearly in the next ten years using a mixture of single and multi-family homes. I plan on starting with house flipping to learn more of the details of the business and to help build additional capital. I have a small network of people that I have been putting together including contractors, mentors, real estate agents and other investors. I am hoping to expand my network and knowledge with any and all that wish to pass on the hard earned insights.

I have not actually chosen my ‘farm’ as of yet, I am looking into warren Michigan but I am not hard set on it quite yet. A thank you to all who take the time to read and comment on my first post!

[Matt Souza]

Hi Jacob,
Welcome to BP! I am a real estate investor in Metro Detroit myself, still relatively new to all of this. I recently closed on my first deal in Warren actually, I feel like it's a pretty good "farming" area to do some rehabbing.

I'm actually taking a different approach: doing a few buy-and-holds first to learn the ropes, then start flipping next year. Feel free to reach out if you are looking to share some ideas or just to network. Best of luck!