Starting my REI journey in Lansing, MI!

[Brendan Carlson]

Hi All,

I'm Brendan and I'm a software developer living in Chicago. When the stay-at-home order started, I got very bored very fast and decided to finally pick up Rich Dad Poor Dad. Well, as many others have expressed, it completely changed my mindset on money. I always had the idea that the only way to be financially free was to either be born into a wealthy family or start and grow a successful (traditional) business. Rich Dad Poor Dad opened up my mind to the idea that I didn't have to be stuck in the perpetual 9-to-5, middle-class lifestyle that I had previously accepted as my fate.

Rich Dad Poor Dad led me to the BiggerPockets podcast, which led me to the BiggerPockets website. I've been lurking here the past couple of months and thought it's about time I introduce myself. I've learned a ton so far and have to give all credit to this community. It's an incredible resource, and I hope to pay it forward in the future when I have some experience under my belt.

Anyhow, after two months of learning and analyzing properties, I've finally decided I'm ready to buy my first investment property. I've targeted Lansing, MI because there seems to be ample opportunity for solid cash flow and because I am somewhat familiar with the area as I attended college in East Lansing. I also grew up 50 miles from the Lansing area, and I plan on moving back to Michigan 1-3 years from now. Initially, I was going to save more before investing, but when I noticed how accessible Lansing is in terms of price, I realized I had enough saved up to jump in asap.

While my short-term goal is to buy my first investment property, my long-term goal is to own 50 units each bringing in ~$200 cash flow. I'd like to achieve this goal in 15 years, give or take. At that point I'd consider myself financially free and would contemplate retiring from the 9-5 lifestyle. My first few properties will be residential and turnkey, but as I gain more experience I'd like to venture into the BRRRR world and maybe even commercial.

I'm obviously a greenie, so right now I'm simply hoping to get my name out there, meet others, learn the business, and buy my first property! I love to get to know new people and learn what motivates them, so if anyone wants to meet up (virtually) over coffee, that'd be great! Just let me know. Thanks all -- I look forward to starting this exciting journey with you.

-Brendan

[Samson C.]

Hi @Brendan Carlson,

You may already know. There is a 'Lansing Real Estate Investors' Facebook group. That group is a huge resource for me. When I have any questions or need some referrals, I post there and people are super helpful there.

They have a monthly meeting. Due to my other priority, I normally don't attend those meetings. Because of the pandemic, they meet online.

Hope that helps.

Good luck with your journey!