New here. From Grand Rapids, Michigan

[Isaiah N.]

I'm 24 years old. I'm looking to get into RE investing. I will be living in Japan for the next 3 years, so this will obviously make investing more difficult. However, most of my family is in West Michigan, so I will be making trips home occasionally. My next one will likely be over the holidays this year.

I've been looking at a lot of multi-unit homes in the $40-80k range.

I've got so many questions, I'm not quite sure where to start.

1. At what point should I seek out a Realtor?
2. What questions should I ask when I see a listing that interests me?
3. How can I find what financing options are open to me? It seems like a lot of lenders don't offer mortgages for lower priced homes, let alone investment properties.
4. Where can I find recommendations for Property Managers? It seems like finding a good manger will be very important.

I appreciate any advice. I'm hoping to gain as much knowledge as possible.

[Brandon Krieg]

Hi Isaiah,

Great to see you. I'm from Michigan as well, and will be living on the West Side starting in a couple of months. From your picture, it seems that you may be in the Military - thank you for your service. There are a lot of very smart RE people on here, so this is a great place to go!

Here's are some quick answers, although not thorough enough.
1. It depends if you would like to utilize a realtor to find your properties. If you'd like to to use one, start developing relationships now. I know a couple of good ones over there if you'd like an introduction.

Otherwise, there are a lot of ways to find deals (doing some of your own marketing, utilizing bird dogs and wholesalers, etc), and often for cheaper than you can find on the MLS - other investors can be your best friend with this one!

2. Try to find all of the numbers you can about a house. What is the market rent? What might your payments be? Cap rates? All of those kinds of things are really helpful to know. In the end, I think the most important thing is cash flow for those kinds of properties. So ask questions that get to the true root of the financials. Also, get a good contractor to inspect it - those costs can hurt if you don't know them ahead of time.

3. There are A LOT of financing options, as long as you find a good deal. You can look into private loans ('hard money'), although be VERY careful about terms if you need a longer term loan. You can partner with other investors and give them a flat percentage or an equity partnership. You can partner with family or friends (if you think the relationship can handle it). And the better relationship you have with a bank, and the more solid info you have about the home/market/etc., the more likely you are to get a loan there.

4. With property managers, I always say find find an investor who's already working in that area, and ask them. Word of mouth recommendations are very helpful. There are a couple of investor groups in Grand Rapids, and good people there can point you in the right direction.

Again, that's just a brief overview, but hopefully it helps. Good luck!