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Updated about 6 years ago on . Most recent reply

User Stats

16
Posts
2
Votes
Nicholas Bastianelli
  • Flipper/Rehabber
  • Novi, MI
2
Votes |
16
Posts

New to Investing in Southeast MI

Nicholas Bastianelli
  • Flipper/Rehabber
  • Novi, MI
Posted

Hey everyone!

My name is Nick Bastianelli and I am brand new to Bigger Pockets. My wife and I are 25 and 29 respectively, we have two awesome kids,  we own two CrossFit gyms and I just became a real estate salesperson in the last couple months.

I read a ton of books and listen to a ton of podcasts and Rich Dad, Poor Dad really kicked off this interest for me a couple months ago.

I grew up in a family that didn’t have much money and have been working very diligently to develop myself in the areas of personal finance and investment so that my wife and I can build a great future for ourselves and our children and set a solid trajectory for the generations to come. 

I do not currently own any rentals although I am very interested in buy and hold rentals. Maybe. I think? But to be honest, I actually have no idea what I’m doing and am completely open to suggestions and learning from those of you who are more experienced.

I am from a construction family and did construction myself so the idea of flipping a home is extremely appealing (I love doing construction and building and renos) BUT the time investment and risk associated if a property undersold seems unnecessary at this point. There must be a safer, better way?

I should note we have no money saved or put aside for me to get started here and I’m not likely to have the means to accumulate a solid chunk of change in the very near future. We have a solid amount of equity in our home but tons of debt in student loans and a little CC debt we’re working slowly to wipe out (will have gone within 15 mo). 

Think that may be too much info but figured the more honest I was, the easier it’d be to get where I’d like to go.

Excited to learn! Thanks Bigger Pockets and thanks in advance to anyone who who replies. 

Most Popular Reply

User Stats

2,396
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1,747
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Brandon L.
  • Real Estate Agent
  • Falls Church
1,747
Votes |
2,396
Posts
Brandon L.
  • Real Estate Agent
  • Falls Church
Replied

Hello! @Nicholas Bastianelli

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent.

There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

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