All Forum Posts by: Collin Vosburgh

Hey Paul! So yes buying rental properties to buy and hold for cash flow is my goal as well. Eventually I would also like to flip properties possibly even sooner if a good deal comes up that I'm able to work out. There is a house in Plainwell that would probably make a great flip if bought at the right price. I think they're asking too much right now.

So my house now I wouldn't be able to make a whole lot off it probably a couple hundred if I rent it for 1700-1800. It is large though 5 bedrooms about 3 acres and a pool. Probably not the "ideal" rental, but because my credit needs a bit fixing I would like to hold on to it for maybe a year, keep paying the loan down, work on my credit and then sell and use that money we make off it to put towards a multi-unit. Preferably two if possible. There's also a large pole barn on the property that we use for our other business that would not be part of the rental which is another reason I'd like to hang on to it unless I can rent that out for another few hundred. We already have about 50k in equity on the house. Unless I can somehow work a deal without having to use my credit. I'm just not sure how to go about that. My fiancee would be getting the next property under her name until I get my credit back up. The other options are we get a multi-unit or rental house right off the bat and stay where we're at. But we would only have about 10k to work with. There's a good house that would probably be a good option for the BRRRR method near us.

Hey everyone. I am new to investing in the Kalamazoo area. Plenty of research and studying but I really need to take action now! I would like to be able to connect with anyone who can help, give advice, maybe help work out a deal with someone? I am torn between moving into another house with my fiancee and kids and renting out our current one or staying and buying a multi unit in our area of Otsego, Plainwell, Allegan or even Kalamazoo. Or even flipping a house if possible but I am mostly interested in buying and holding right now unless a real good deal comes along that would work. We're fairly new to the area (we moved here from Chicago a few years ago) so any advice would be greatly appreciated! Thanks! 

Hi! I am also new to investing in the Kalamazoo area. Plenty of research and studying but I really need to take action now! I would like to be able to connect with anyone who can help, give advice, maybe help work out a deal with someone? I am torn between moving into another house with my fiancee and kids and renting out our current one or staying and buying a multi unit in our area otsego, plainwell, allegan or even Kalamazoo. 

That's a very good point. I definitely want to be more of just an investor and finding a really good realtor might be the way to go. Would it be wise to get inspector certification and possibly appraisal? Then I wouldn't have to hire someone for that and can negotiate better knowing what it's really worth and what needs to be done to it if anything is wrong. I've seen classes for around the 500 mark which might be worth it in the long run maybe?

Thanks Mary! Yeah I was thinking inspector or appraiser as well. I think I may do that just so I won't have to hire someone. Maybe realtor license eventually. Thank you. And yeah the pool I guess might be a bad thing hmmm

Thanks so much for that Joe, great info and advice. That's exactly what I'm going to do!

Hey everyone, my name is Collin. I'm from Chicago but now live in SW Michigan (Otsego). I've been trying to get into real estate investing for some time now and have been studying and researching all I could. I would like to be involved with getting multi-units for buy and hold as well as gaining enough capitol to eventually be able to flip houses. I think I have a solid plan so far but would like some feedback to make sure it's a good one.

So a few years ago I bought my first house and since have about 50k-60k in equity. Now since my family and I aren't too big on the area anymore (it's kind of secluded and not the best for kids) I'm thinking of renting it out until I get my credit back up for maybe the next year and then selling and using the money I make off of it to hopefully get a couple multi-units. It's a lot of property and has 5 bedrooms and a pool. The mortgage is sort of high so I wouldn't make a whole lot off it (if I rent for 1700-1800 I would make a couple hundred a month) but at least I would be paying it down until I sell. It would be great for maybe 3-4 roommates. It also has a large pole barn on the property that I would still use for myself to run our food truck out of which is also why I would like to hang on to the property. Also I would be able to maintain the property very easily. My fiancee would buy our next house which I would make sure also has some instant equity. And from there keep acquiring more multi-units until we're able to start buying properties to flip. Any feed back or advice would be much appreciated!

Also I've been thinking of getting a real estate license, inspector license or appraiser license. Would having any of those help or even all three? What would be best?

Thanks!!

@Marcus Johnson

There's nothing wrong with it and probably a great plan if you can do it

 The thing is the average person doesn't have that kind of money to just buy everything outright and Dave makes statements like "don't even think about investing in real estate until you can" and he "promises" it will fail.