All Forum Posts by: David Bowles

@Edquan N. Dantzler I’d love to meet with you and talk about your experiences in the area! PM me with a few good dates and times and we will get together!

@Matthew Kerr Have you looked into any real estate groups in your area? That could be a great place to find real estate agents and wholesalers to help generate some leads for you! Good luck!

@Bradley LaBrie @Theron Mcfield I am also new to investing. I’ve been spending a lot of my time educating myself on real estate and am looking to grow my network. I’d love to meet up some time and talk with folks in the area. Lmk if you wanted to meet up for lunch or anything!

@Johnny Crane I know this post is a year old, but it was a great read! I am looking to start investing later this year around my area (Davison), but hadn’t identified a market yet. Are you still doing deals and doing well in the Fenton/Linden area? I’d love to hear more success stories!

@Canneton Howard thank you so much! Hearing back from everybody on this forum has made me realize that maybe I’m not as crazy as my friends and family think I am! Do you work deals often in Flint? If you had asked my wife, we will be ready to grow our portfolio when we are already rich and financially free! She is still struggling with taking on risk, and managing it well for profit. That said, when we buy this house, I know that if we see success, I will be ready to buy the next one!

I figure real estate is much like having a child, no one is ever “ready “. I think I’m about as ready as I’ll ever be! Let’s take a look down the rabbit hole…

@Pamela Morrison Awesome info! That’s the title company I plan to check out as it is the one we used to purchase our home. I was thinking 600 as a bottom line rent should be easy to get, I’ll send you the info!

@Alex Flores Thanks! I think I’m going to use an attorneyTo protect both of us, and as a learning experience for me. I have been studying real estate now for about four months, but have zero real life experience with it.

I’m very excited for this opportunity! Zero down payment and zero interest rate can do crazy things to your cash on cash return!

It’s good to hear that this opportunity is in a good area for investing. I am very familiar with the area. If you ever need any boots on the ground, feel free to reach out to me!

@Mark Durham Thanks for the reply! Oddly enough, I hadn’t thought of that as a factor yet! It’s still pretty up on the air as to wether it is “fixed” or not. Some say the problem was taken care of back in 2017, but folks are still using filters provided by the gov’t for drinking water. Laundry, showers, dishwashing, etc. are good to go. As my brother is living in the house currently, he provided me this answer. I will definitely do some more digging. Thanks for that perspective of things!!! Easy to forget about when you are so close to the issue...

@Dennis M. That’s kind of what I was thinking too! Seems like an extremely low risk opportunity to get myself into the game a bit! Thanks for the reply!

Hi BP. This post is my first action towards building a real estate portfolio, so please be forgiving if I sound like an idiot.

My father in-law owns a property his son has been living in for the last 10 years. The house will be vacant soon, and he’s looking to dump the property.

This house is a 3/1 with an unfinished basement and all utilities work. I think I would only need to replace carpets and clean the hell out of it for it to be rent ready.

Fully rehabbed houses in this particular neighborhood on the east side of Flint, MI are on the market between 30-40k.

I have gently probed him to see what his desires are with the house. Turns out, he just wants to be rid of it, and is willing to sell the house to me with no money down and seller financing (he is retired and doesn’t really need the money.

I believe this property will easily rent for 600$

My primary questions are these:

If we came to an agreement, what players would I need to round up to make this happen? I was thinking an RE attorney, inspectors, contractors.

Do I need a REA to represent me on the sale?

Should I avoid investing in a C class neighborhood as my first property? This is a neighborhood that my wife and I lived in 20 somethings, so I know the area well.

Any other responses/advice are greatly appreciated!