New Member Introduction

[Sneha Seif]

Hi BP Members,

Hello from Chicago! My husband Duncan and I are looking to get started in REI in the Grand Rapids, MI area because he grew up there and because the market is much more affordable than Chicago. We'll be doing long distance BRRRRing of SFH to start off but plant to scale up to Multi Family by Year 3. We'll also be visiting the GR area often as my in-laws still live there.

We're looking for recommendations for a realtor who is familiar with working with REIs and understands the BRRRR strategy. Also interested in any recos folks have for contractors and/or any hard money lenders in the area who are comfortable with BRRRR. I'll be making calls this week to start vetting out lenders and getting pre-approved so we can start pounding the pavement for deals, but would appreciate any recos to get started. My husband and I both have excellent credit so I'm hoping it won't be too difficult to secure pre-approval.

We're very motivated to start investing in real estate and our goal is to be under contract on a SFH in the next 30days and cash flowing by November hopefully.

For background: my real estate experience thus far consists of a buying a condo in 2010 in Atlanta (Buckhead) for $135k on an FHA loan, house hacking it and rehabbing it for $35k, and selling it in 2014 for $295k. I was able to pay for my MBA with the profits from the sale, but in hindsight I should have invested in real estate! We've also bought and sold a couple other primary residences through the years, so I'm familiar with buying and selling property.

Anyway, its nice to meet you all and looking forward to connecting to other investors in the Chicago or Grand Rapids markets!

Sneha

[Caleb Reits]

Nice to meet you, and glad to hear you made a profit off that condo, my girlfriend and I are actively looking for multifamily in Grand Rapids right now. Have spoken with a couple of very helpful relators, and viewed some interesting properties. Grand Rapids in the city is so far very expensive but when you factor in that it just keeps increasing in value.... We think it is a good idea to buy SOMETHING here. No matter what it is.