New To The Forum - Introduction

New To The Forum - Introduction

Grays, Essex · Member since 2012 · 37 posts · 3 votes

Hi, just wanted to introduce myself as I'm new here. I'm Jay, 39, from just outside London, England. My wife is from Michigan and we're moving back there in the not too distant future to focus on full time property investing.

I've spent a lot of time in the Detroit Metro area in the past 12 years and follow the market from the UK. I don't claim to be an expert but I have a fair knowledge of the area having lived there for 5 years. We visit family there a couple of times a year and have wanted to get into the Real Estate market for a few years but didn't have the capital to get things moving. We're now in a position where we should have a large chunk of capital coming our way in the coming months and we're ready to start a new chapter in our life in Michigan.

I'm interested in learning from others who have been in the business a while, particularly interested in connecting with people I can maybe work with in future. I guess what I'm working on at this point is getting a better understanding of rehab costs, financing, and areas to target and hopefully I can start networking in preparation for kick off!

Our overall plan is to build a property portfolio over the next few years. We'll be looking at each deal individually to assess the best plan for each house. We'll probably be doing a variety of things, flipping some properties, holding on to others as rentals etc. We will be cash buying the first few properties, but in the longer term, the plan is to build a portfolio that we can sell in 5-10 years for a good ROI.

Look forward to hearing about your projects and hopefully helping out others too.

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  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    14y

    Welcome to BiggerPockets, Jay. I bet people in London find Detroit home prices unbelievable. I'm looking forward to hearing about your journey.

  • Real Estate Investor · Manhasset, NY · Member since 2010 · 74 posts · 8 votes
    14y

    Welcome Jay.

  • Property Management · Memphis, TN · Member since 2009 · 668 posts · 362 votes
    14y

    Welcome!

  • Residential Real Estate Broker · Denver, CO · Member since 2008 · 4 posts · 0 votes
    14y

    Welcome Jay. You're going to love Bigger Pockets

  • Investor · Plano, TX · Member since 2011 · 84 posts · 45 votes
    14y

    Welcome to BP Jay!

  • Investor · West Bloomfield, MI · Member since 2009 · 358 posts · 306 votes
    14y

    Welcome to Bigger Pockets Jay, and an advance welcome to Michigan.

    One of the best ways to get oriented to real estate investing in a new area is by attending real estate investment association meetings. You can get up to speed on local conditions, meet other local investors and figure out who you'd like to do business with.

    If you end up in metro Detroit there are several good ones I can recommend.

  • Grays, Essex · Member since 2012 · 37 posts · 3 votes
    14y
    Originally posted by Tom A.:
    Welcome to Bigger Pockets Jay, and an advance welcome to Michigan.

    One of the best ways to get oriented to real estate investing in a new area is by attending real estate investment association meetings. You can get up to speed on local conditions, meet other local investors and figure out who you'd like to do business with.

    If you end up in metro Detroit there are several good ones I can recommend.

    Thanks, Jon, James x 2, Keith, Anthony & Tom.

    Tom, I plan on getting involved with the REIA as soon as we move back. We will be in a fairly fortunate situation, having a fairly good amount of capital to get us up and running. I just wish we had been in the right financial position 3 years ago!

  • Involved In Real Estate · Virginia Beach, VA · Member since 2012 · 48 posts · 11 votes
    14y

    Welcome to Bigger Pockets Jay. You will find this site unbelievably helpful. I know I have and Ive been on here less than a month. Good luck in your future investings. Not too be too forward but please take a minute to write down my contact information. The Metro Detroit area is by backyard (I'm also a Michigan native)and we may cross path. Again, best of luck too you.

  • Grays, Essex · Member since 2012 · 37 posts · 3 votes
    14y
    Originally posted by Tenisha & Nicole Williams:
    Welcome to Bigger Pockets Jay. You will find this site unbelievably helpful. I know I have and Ive been on here less than a month. Good luck in your future investings. Not too be too forward but please take a minute to write down my contact information. The Metro Detroit area is by backyard (I'm also a Michigan native)and we may cross path. Again, best of luck too you.

    Hi!

    Will do! It's likely our paths will cross once we touch down in Michigan.

    I am already finding BP useful and I've only been here a few hours. I figure the more I pick up while I'm stuck in the UK, the more equipped I'll be when we move.

    Look forward to learning more from everyone here at BP in the months to come.

  • Real Estate Investor · Los Angeles/Santa Barbara, CA · Member since 2011 · 102 posts · 14 votes
    14y

    Welcome Jay Neaves. Great to have you on board!

  • Real Estate Investor · Bellingham, WA · Member since 2008 · 407 posts · 90 votes
    14y

    Welcome Jay to BP. Detroit has a football team as well, both kinds

  • Grays, Essex · Member since 2012 · 37 posts · 3 votes
    14y

    Thanks for the great welcome! I'm already learning so much, just lurking around, reading through the posts and applying it to analyse deals. Hopefully, that will help me to be more efficient at it once we get started.

    Looking forward to hearing more about you all and how your deals are working out for you.

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