New Member, Southeast Michigan Landlord looking to expand

[Aaron Yates]

Hi everyone my name is Aaron Yates. I work full time in the auto industry as a robot programmer and have been doing this for 10 years. I was born and raised in Michigan.

I have wanted to do Real Estate since before I ever got into the automotive industry. I purchased the Carleton sheets over 10 years ago ( and returned it of course because I was scared, broke and needed the $100 back)

I ran into a lot of negativity then and still do now. The difference now is that I'm finally doing it and don't care what friends and family think. I'm not scared anymore.

I tried my hand at Real Estate right when the market started plummeting in 2008. I was uneducated. Unfortunately because of this, after two weeks into my new venture I was laid off and out of work for all of 2009.

Although that year ended badly and discouraged me from Real Estate, I started over in April 2011 but using cash this time (for various reasons). I dabbled with my toes in the water and bought an REO property that needed little work. This went so well that a year later I was ready to dive in.

My new tenants paid 6 months in advance. This went towards the purchase of a new property. By this time I was ready to run (in my mind anyways).

I sold the new property (2nd property purchased with my own cash) on land contract. I needed enough money down to buy another property but yet wanted cash flow for some time as well. Many people, as well as my agent, said I would never accomplish this task. I received $15K down and did a 5 year finance deal with no balloon. My agent was in shock.

So this led to my 3rd purchase, then 4th and more recently my 5th. Although it took me a year to purchase my 2nd property, I was able to acquire 4 more properties in under a Year's time. This July (2013) is the one year mark since I bought my 2nd property.

Once I was bitten by the bug I just couldn't stop. Until I hit a wall that is. You see, I use all my own money due to my recent credit history. I use all my overtime money, travel money and rental property income to invest into properties. So if I don't have the cash, I can't do a deal.

This is how I came to find this site. I was researching probate courts. I need to get cash to reach my goal of a 6th property by the end of this year and decided to look more into wholesaling to other investors. This may be a little challenging for me because I travel for work and is one of the reasons I have put off learning and trying this type of investing.

My big goal is to have SFR's, apartment complexes, and even move into commercial later on. I want to quit my job in the auto industry and ultimately be Retired by age 50 (goal to quit job is much younger than age 50!!). I also want to expand my investments outside of Michigan when I become more educated in investing.

My short term goals are to acquire 10-15 more free-and-clear SFR properties in the next 3 1/2 years and hopefully my first apartment complex.

After finding BP searching out Probate information and reading some posts, I decided this could be a really good place to help me grow as well as help newbies ( newer than me ) that are afraid and need the encouragement and proof that low income properties can make you money.

I hope this post doesn't seem rude or arrogant. I just wanted to help people understand my position and goals. I have ran into a lot of negative people on this venture and lots of BS from people who claim to be BIG SHOTS.

I believe I can help people and I know I need help as well if I want to grow my company and dream. I get way more NO'S than I ever have YES'S. So don't let the NO'S make you give up on your dream. This comes easy for some people and others, like me, it's a challenge for various reasons.

I look forward to meeting people in here and I hope we can grow together.