All Forum Posts by: Andrew Sherwin

I drive through that area on a pretty regular basis (10 times a year or so for my j.o.b.). Very nice area. I like that it's near a good sized town with Macon but far enough away from ATL to not have to deal with that. Atlanta annoys me. I spend a lot of time just west of Tifton. Anyway, congrats on getting the deal under contract and good luck!

As a newb, any advice I give should be taken with a grain or two of salt. That said, the best advice I can give is to shop around for different lenders. My wife and I are looking to buy our first house soon(hopefully a duplex to get our feet wet in the investing game) and the two different banks I talked to had no problem with my parents giving us the 5% for a down payment. They said it would have to be documented as a gift but it's not an issue. And yes my parents do have a mortgage on their house too. I say shop around. Can't hurt to see what other lenders have to say.

Not sure about all this 2% stuff. In Central Michigan there is no way. I'm looking at a nice duplex that is listed at 77k, could probably get it for 70k, but probably no lower. That would mean I'd have to rent each unit for an average of 700 dollars to hit 2%. Around here if I put a 2/1 on the rental market for 700 dollars, I would most likely have 100% vacancy. No one would be even half interested! Of course I have not yet made my first investment so I may have no clue. Right now my wife and I are renting a 2/1 for 400/month and with a little updating, our landlord could probably get 500 or 550 but no more. People said on here that the 2% rule happens in the Midwest, but I don't see it happening here.

Just don't do what I did and go to college by taking out 100k in student loans. It's the only thing keeping me from investing now.

hey Bill. I'm in Alma, a little over two hours northwest of you. I think Detroit is still a beautiful city and loaded with investment opportunities. I get down there a few times a year to cheer on the Tigers. Anyway, enjoy BP. I know I have for the past couple days since joining!

Thank you so much David! How is the market in this area for an investor? My wife is from the Chicago area and we thought about investing there. But I would love to stay local if I can.

Thanks everyone! I have a lot to learn of course. I don't even know the definitions of some of the words y'all use. But I'll learn. And it's fun to read success stories and stuff.

Hey everyone! My name is Andrew and I live in central Michigan. I'm not currently an investor but I'm interested and trying to learn all that I can. My wife is interested in investing in buy and hold rentals and I love the idea of fix and flips. I'm an avid DIYer and love working on things like houses. I'm a full time beekeeper. I work for my father and love the work. I will most likely do it the rest of my life but I want to build a REI portfolio as well. Beekeeping pays the bills but doesn't really allow for building wealth. Anyway, that's me in a nutshell. I look forward to learning from all of you.