All Forum Posts by: Charles Ulrich

They're all over the place in Washtenaw county, I think it depends on the township how well the signage laws are enforced. I have talked to wholesalers who say that Internet marketing works a lot better these days anyway, you just have to make sure your ad or website comes up in the results when users type in "we buy homes in <area>"... which you may have noticed is the same verbiage used on the bandit signs...

@Derek Gibbs Howdy! I'll see if I can make it up there for that. Thanks!

I'm positive I would have walked away from this as well. I'm reading that lots of new investors throw caution to the wind and end up being committed to bad deals. There are probably seasoned investors who can figure out creative ways to make most any deal work but my feeling is that new investors should be more selective about the deals they choose to take on since they have less experience in mitigating risk and estimating costs beforehand.

I'm actively looking for my first property and one of my criteria is that I will only buy a house that needs mainly cosmetic updates and even then within certain limits. One of my major remaining hurdles is that I don't yet have a good sense for the reasonable costs of many renovation projects and repairs. Guessing too low and receiving quotes 2x to 3x the market rate from unscrupulous contractors both seem like great ways to torpedo a deal. Luckily I'm gradually building a great network and have a few people who probably won't mind me running things by them. (And of course, there's always BP.)

In The Millionaire Real Estate Investor, Gary Keller writes that it's far better to walk away from a good deal than to find yourself stuck with a bad one.

@Scott Matthew C. Nothing fancy, a 1980 Suzuki GS850GL. It's not as cool-looking as its brother the GS850G but still technically qualifies as a muscle bike. I bought it as my first bike around 5 years ago for $250 and fixed it up. I keep wanting to upgrade to something newer (or at least more sporty) but  the nice thing about this old beast is that it's fairly ugly so I never worry about damaging it or getting it dirty. It's an absolute breeze to maintain, it's super reliable and is fun enough for now.

Mid-April is usually the first chance I get to hop back on the motorbike for the year, greatly looking forward to spring.

What about you? Have any favorite rides around here?

@Saravanan Saravanan Thanks for the well wishes!

@Dylan Tanaka The A2REIC and Dirty House Buyers meetup are the only ones I've been to so far, I'm looking forward to checking out a few further east if I can make it.

So many warm welcomes! Thank you! I'm going to try replying to you all at once. I'm still getting the hang of this forum so please feel free to tell me if I'm doing it wrong.

@Ryan Blake Thanks for dropping in to say hi!

@Zachary Metler Excellent, I'll be in touch for sure.

@Matt Ridenour Sounds great, I actually live just north of Ypsi and would love to tag along if that would be okay.

@George Blower Thanks! Nope, no relation to the bookstore. My wife and I moved to the area almost 8 years ago after about 10 years in Lansing. Aside from the cold Michigan winters, we love it over here!

@Marcia Gilad Hi Marcia, great to run into you here!

@Oleg Shalumov Thanks!

Howdy!

I've been in sponge mode for a while now just soaking up all the great info and opinions to be had here. The time has come, I think, to introduce myself. (*Deep breath.*) Here goes.

My name is Charles and I'm a computer nerd by day. (I do a little bit of it all: systems administration, Linux, devops, web stuff, networking, some programming, etc.) I work in and live near Ann Arbor, MI. My wife and I have two kids, a couple of sweet doggos, a house in the burbs, and all that normal American Dream stuff. My goal is to eventually have a portfolio of rental properties and other real estate-related assets that will generate enough passive income so that I can eventually quit my day job to focus on my family, my hobbies, and freelance work, in that order. Or maybe I'll accidentally become a billionaire and have a big mansion and swim in a pool filled with the tears of enemies. Whichever happens first, really.

I have been reading a TON of stuff over the past few months and listening to hours and hours of podcasts. I'm a member of the Ann Arbor Real Estate Investors Club (or A2REIC) and it's an absolutely fantastic group. I've learned a lot from it and I keep (figuratively) running into awesome people at these meetups. If you're in southeast MI and haven't stopped by, I can't recommend it highly enough.

I know your time is valuable and walls of text are not my thing so here's why I'm here:

I'm hoping to network with pretty much anyone doing anything in real estate. Phone calls, video chat, and email are great but bonus points if you're in my area and we can meet up for lunch or coffee once in a while. I'm especially interested in meeting with wholesalers, contractors, and other investors. I'm open to partnerships, syndication, and providing private capital to individuals with a proven track record and/or an uncanny resemblance to Ron Swanson.

Here is what I offer in return. In addition to partnerships, I'm open to bartering my time and skills in exchange for whatever you have to offer whether that is wisdom, access to your network, or a stake in a deal.

* I'm great at most IT, web, and general technology stuff. Have a multi-unit and want to provide Internet access to tenants? I'm the guy to talk to.

* I am capable of light carpentry, some electrical (outlets and light fixtures), and some plumbing (toilets and faucets). Perhaps a bit of yard work here and there. I do a lot of DIY stuff on my own house and it's still standing so I really think that says something.

* I have access to capital and I'm willing to invest in the right deals with the right people.

* I am a great listener and I'm willing to be your sounding board for going over deals and other aspects of the business.

* My own network of trusted local professionals in the southeast MI area is small but growing and I'm happy to refer them where I can.

* When it's nice out, sometimes I ride my motorcycle. That's not really relevant to the topic at hand, I just felt like bringing it up.

Anyway, since we're friends now, please feel free to drop me a message. I'm happy to talk to anyone about anything. I'm really enjoying the community here so far and I look forward to our future interactions.

Thanks,
Charles