Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

20
Posts
5
Votes
Collin Vosburgh
  • Otsego, MI
5
Votes |
20
Posts

Trying to get started but have some questions

Collin Vosburgh
  • Otsego, MI
Posted

Hey everyone, my name is Collin. I'm from Chicago but now live in SW Michigan (Otsego). I've been trying to get into real estate investing for some time now and have been studying and researching all I could. I would like to be involved with getting multi-units for buy and hold as well as gaining enough capitol to eventually be able to flip houses. I think I have a solid plan so far but would like some feedback to make sure it's a good one.

So a few years ago I bought my first house and since have about 50k-60k in equity. Now since my family and I aren't too big on the area anymore (it's kind of secluded and not the best for kids) I'm thinking of renting it out until I get my credit back up for maybe the next year and then selling and using the money I make off of it to hopefully get a couple multi-units. It's a lot of property and has 5 bedrooms and a pool. The mortgage is sort of high so I wouldn't make a whole lot off it (if I rent for 1700-1800 I would make a couple hundred a month) but at least I would be paying it down until I sell. It would be great for maybe 3-4 roommates. It also has a large pole barn on the property that I would still use for myself to run our food truck out of which is also why I would like to hang on to the property. Also I would be able to maintain the property very easily. My fiancee would buy our next house which I would make sure also has some instant equity. And from there keep acquiring more multi-units until we're able to start buying properties to flip. Any feed back or advice would be much appreciated!

Also I've been thinking of getting a real estate license, inspector license or appraiser license. Would having any of those help or even all three? What would be best?

Thanks!!

Loading replies...