All Forum Posts by: Brandon Krieg

Hi Jerry,

Welcome! There is a good community here in Grand Rapids, both here BP and in the 'analog world.'  Don't be afraid to ask for recommendations or advice.  It's a big world, but the journey is made a lot easier when you partner with good people. 

Good luck!

Hi Jonathan,

I find that the straightforward approach is usually best.  You don't need any razzle-dazzle or magic sales techniques.  Just knock on his door, and let him know that you're looking to buy a house or two as an investment.  See if he would like an offer on the house.  If he's willing, have a contractor come through, and give you a repair quote.

Since you live in the same neighborhood, you both probably have a good idea of what houses have sold for recently.  Show him those details, the repair estimate, and make him an offer.

If he doesn't like it, no big deal.  Every seller thinks their house is worth more than it is.  But if he accepts, you've got a great situation, with easy access to the house.

In short, no need to overthink it.  Walk over there today and talk to him.  (:  

Keep us updated... it's a neat story!

Hi Jason,

Since you asked for pros and cons:

Pros:
-Plenty of variety, one day to the next will hold challenges and surprises
-Many different types of opportunity available - commercial, residential, flips, holds, etc. to keep you growing and learning
-Potential for financial stability and time freedom
-You get to provide a valuable service to the community, and help people.

Cons
-Long learning curve - it takes quite a while to get good at this.
-Ups and Downs - until you have your systems in place, you will likely ride a bit of a financial roller coaster
-Necessary skill development can be difficult.  While different specialties require different skills, you will likely have to become a true expert at a few things if you want to succeed at a high  level.  This is very demanding.
-Market Dependency - if you are tied to a single area, you are subject to the whims of that particular market.  If it drops considerably, you are likely to fall with it (if you are not extremely careful).

Overall, I believe it is worth it.  But it is hard, and not for the faint of heart.  Think hard, and if you decide to jump in, be ready to hit the ground running!

Just to chime in with the other GR Folks here... welcome!  There is a great community of people (both on here and in person) that work here in West Michigan.  Reach out and get help.  It can be exhausting to start alone (I tried it).

Otherwise, hopefully we'll be seeing you often!

@Jake Thomas - Thanks!  However, you give me too much credit.  @Michael Lerch started the group.  (:

@Andy Albrecht - You can search for the West Michigan REI Club on meetup.com. If you sign up on there (it's all free), you can get updates about the upcoming meetings, speakers, and more.

You should also check out the RPOA breakfast meetings every Friday at the Cheshire Grill in Grand Rapids.  There's a great group there as well!

Hi Jackie,

I'm a bit biased, since I help organize the West Michigan REI Club... but on the good side, you don't really need to 'bring' anything! The group has an excellent mix of experienced people (who have been investing for decades), people looking for new connections to expand their business, and brand new folks.

Each session includes a 'haves and wants' section, where everyone in attendance can let the group know what they are looking for and what they have to offer.  There is plenty of networking time, and often an expert in a real-estate related field to speak (insurance, syndication, flips, wholesales, real estate law, etc).  It is also in a relatively relaxed atmosphere at Buffalo Wild Wings.

Mods, if this is too much of a 'sell,' feel free to remove... I just wanted to give an impression of the group based on the question.  Thanks!

@Jimmy Watson - I'll send you a message as well. I have recommendations, but don't want to violate TOS for posts.  Thanks!

Hi @Jacqueline Coombs,

Welcome!  There is a great community of investors in Grand Rapids, both on BiggerPockets and in person!  As you get rolling, here are a few easy tips that have helped me here in West Michigan:

-Here on BP, set your keyword alerts to 'Grand Rapids,' 'Michigan,' and the topics you want to learn about so you know instantly when people are posting about what you want to learn about.

-Check out the 'recommended book' posts in the blog.  I usually find that I've read many, but not all of them, and they typically find some real gems in there (The ONE Thing by Keller is my newest one).

-Check out the local organizations around Grand Rapids - the RPOA, West Michigan REI Club, and other meetup type groups. Very nice opportunities for networking!

-Try to learn every day, but focus on what you're really hoping to learn.  It's easy to get 'shiny object syndrome' and get into analysis paralysis.  So, learn, then act!

Anyway, it's great to have you.  Good luck, and welcome!

@Dominique Hill - Get very good at finding and analyzing properties.  Go out and meet investors (local meetups, coffee, whatever it takes).  If you get a truly good property that meets their criteria, send it to them.  Never send anyone a mediocre or bad lead.

It's better to send out one good lead every 6 months than 10 'meh' ones every month.  That way, you build credibility, and your cash buyers will learn to trust you.  They will recommend you to friends, and your business will grow organically.

Good luck! 

@Brandi Bryan - I highly recommend either using an attorney, or working with a group that works with attorneys.  @Account Closed has it right... You don't want your killer deal tripped up by a poorly worded sentence.