New-ish Investor & BP
Investor · Grand Rapids, MI · Member since 2018 · 4 posts · 2 votes
Hi All!
I'm new-ish to real estate investing (more background below) and have hit a bit of a lull in expansion. I've been listening to the BP podcast for a while and less-so lurking around the forums. I'm hoping that becoming a bit more active on the forums might help myself gain some traction while helping out others where I can.
My background... Currently working full time as a product development engineer. I started out house-hacking a duplex in Grand Haven & transitioning it to an AirBnB. This was before I knew of PB or much at all about real estate investing. Once I started seeing the cashflow pay my mortgage plus some I was hooked. We found a great deal on a single family and moved out/converted the second unit to an AirBnB. So, I'm currently sitting at 2 doors (both vaca. rentals), and a single family with a good deal of equity.
Things I can Help Others With:
Any rental details in the GH area. I'm pretty familiar with the city's process.
Any AirBNB questions or details with the city. Again, after a few years I'm pretty familar with the process.
Things I'm hoping to Improve:
I'm currently struggling a bit to get a second deal. My significant other is pretty resistant to 'downgrading' to another duplex/multi-unit for 12 months, which makes things a little more complex... This would be my preferred strategy. I probably have just enough capital to put 40% down on a second turnkey property, but I hate the idea of tying up that much capital into one property. Obviously potential solutions are flipping, wholesaling, or partnering with another investor on a flip. I think sourcing quality deals is probably my weak point right now.
Anyways, I'm looking forward to being more active on the forums and helping others wherever I can.
I'm new-ish to real estate investing (more background below) and have hit a bit of a lull in expansion. I've been listening to the BP podcast for a while and less-so lurking around the forums. I'm hoping that becoming a bit more active on the forums might help myself gain some traction while helping out others where I can.
My background... Currently working full time as a product development engineer. I started out house-hacking a duplex in Grand Haven & transitioning it to an AirBnB. This was before I knew of PB or much at all about real estate investing. Once I started seeing the cashflow pay my mortgage plus some I was hooked. We found a great deal on a single family and moved out/converted the second unit to an AirBnB. So, I'm currently sitting at 2 doors (both vaca. rentals), and a single family with a good deal of equity.
Things I can Help Others With:
Any rental details in the GH area. I'm pretty familiar with the city's process.
Any AirBNB questions or details with the city. Again, after a few years I'm pretty familar with the process.
Things I'm hoping to Improve:
I'm currently struggling a bit to get a second deal. My significant other is pretty resistant to 'downgrading' to another duplex/multi-unit for 12 months, which makes things a little more complex... This would be my preferred strategy. I probably have just enough capital to put 40% down on a second turnkey property, but I hate the idea of tying up that much capital into one property. Obviously potential solutions are flipping, wholesaling, or partnering with another investor on a flip. I think sourcing quality deals is probably my weak point right now.
Anyways, I'm looking forward to being more active on the forums and helping others wherever I can.
