All Forum Posts by: Danielle McDougall

Hi Danielle,

I am also from Royal Oak, Mi, and I can say that I believe it is a great place to invest. I currently do Short Term Renting as an Airbnb and after a learning curve, it has been going really well this 2023, a lot of people see Royal Oak as being in the middle of the Detroit Area, so they like this location. 

You can also look into doing Medium Term Renting, since you have the Beumont Royal Oak hospital in the area, and there are a lot of traveling nurses that have monthly contracts to go support the staff at the hospital. 

Let me know if you would like to connect or if you have any questions and I will do my best to answer.

Hey Danielle,

Welcome to the real estate investing game.  There is no better time than now to start learning.  Deals are on the horizon!  

For learning, I would recommend podcasts & youtube because you can listen on the go.

Biggerpockets, Rod Khleif, Cash Flow Guys & Michael Blank are some of the ones that helped me get started years ago.

If you need any help, my DMs are open.  Good luck!
John

@Danielle McDougall you are lucky to be in one of the best areas of the country to invest in!

You have an abundance of investment choices, from Class A to C (we don't recommend Class D), SFR to apartment buildings, STR, MTR and LTR options as well.

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse

Our analysis is a template you can follow for any city. Doubt you'll find this much info for any other market in the US. So, why would you invest remotely anywhere else?

Hi Danielle! 

You're off to a great start the BP podcast has a ton of information and can answer most of the questions you may have. I would also read "Rich Dad, Poor Dad" by Robert Kiyosaki, that book has a ton of insight. When I was getting started I watched a lot of Pace Morby and Graham Stephan YouTube videos. Pace also has a Facebook group with a lot of seasoned investors that are willing to take a call to answer questions. Keep reading the forums and look into neighborhoods you are interested in and try and sort out your strategy for investing. Talk to some agents and get on wholesalers lists to see as many properties as you can.

Keep doing your research and I'm sure you'll be right where you want to be in a year or two. Welcome to BP!