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Updated almost 6 years ago on . Most recent reply
Newbie investor from Rochester Hills, Michigan
Hello all!
I'm brand new to real estate investing. I've been doing research for the last couple months and using the rental property calculator. I love that thing! I'm looking to buy single family homes in my area (Shelby twp, Utica, Sterling Heights, Auburn Hills, Rochester if possible) with the long term goal of buying rental properties in Florida. I'm currently looking to find a team, a local agent that is familiar with investment properties (surprising how many aren't), CPA, home inspector, etc. I already connected with another local investor and am going to attend some meet ups that he recommended. My goal is to buy at least one rental property this year. Hopefully more!
A little about myself. I'm a car guy. I took a 95 Mitsubishi 3000GT and converted it to twin turbo and then AWD. (Best ET so far is 11.8 at 122, MPH is there, need a better launch!) I know, I should have just bought a VR4. I even built my girlfriend her dream 92 3000GT in Fiji Blue. We drag our cars all over the place to attend meets with other car enthusiasts. I'm currently building a 92 Dodge Stealth (Basically the same as a 3000GT). It has the gizmos that I want and none that I don't, AWS, ABS, Active exhaust all deleted. When I say "build" I don't mean just throwing wheels, lowering springs, and exhaust on. I mean bigger turbos, built engines, transmissions, reinforced drive-lines, bigger brakes, paint, and all the other things that make cars unique.
In 2010 I moved to Michigan from Illinois to work for Chrysler, now FCA. I work in the Service Diagnostics group on our WiTech scan tool. I bought my first house that year and have been living cheaply ever since. I plan to eventually rent this house when I move into something bigger.
If you're local to me, please reach out. I'm excited to be here and I look forward to getting to know you!
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Welcome to RE world of investing.
There are handful of Real Estate meeting in 10 mile radius from Rochester Hills-Troy area. Hope we get a chance to meet in one of the meets up or other occasions.
Rental is one of the vehicle to create passive and retirement income. Investors chose wholesaling to create instant $. Also, people like flipping to add value for the property to get active income.
Either you invest all your capital or you use sources wisely to leverage and accelerate the income creation.
Good luck.