All Forum Posts by: Joe Doman

Thanks everyone, 

I read somewhere  with a land contact, title does not actually transfer to the buyer and there are potential risks with that..? What happens if the owner gets sued or something, is it possible for collectors to go after the property that was sold on land contract?

I have a seller willing to carry back financing. What is the best way to do this in Michigan? The seller mentioned a land contract. I heard there are risks to the buyer with this option? Are notes a better option? What do you recommend?

I probably will need to run this by a real estate attorney.  Can anyone refer me to a good real estate attorney in the Canton, Plymouth, Livonia, Westland, Ann Arbor area?

Thanks!

Welcome! I invest in the same area. I have a couple duplexes in Canton. It is getting pricey, but you still can find good deals if you hustle.

Good luck!

I read the Millionaire Real Estate Investor a few years ago and just recently listen to it on Audible. It is an awesome REI mindset type of book. -Would definitely recommend.

The book's outline is 1. Think a Million 2. Buy a Million 3. Own a Million 4. Receive a Million.

So... I wanted to reach out to the community:

1. How long did it take you to develop your REI education / financial literacy to take the plunge and purchase your first RE investment?

2. How long did it take you to  "Buy a Million". Or what is your goal to achieve this?

3. How long did it take you to "Own a Million". Or what is your goal to achieve this?

4. How long did it take you to "Receive a Million" (If this is you, you are awesome!). Or what is your goal to achieve this?

Please share your thoughts, your strategies and your story.

Nobody has a crystal ball... stick with your strategy, buy at a discount, and keep enough reserves to weather a storm. 

It is a lot like dollar cost averaging your investment advisor might recommend, if you consistently invest over time there is no need to try and time the market... and stress out about when's the next crash.

@Joshua Birk, congrats on securing this deal! It is defiantly tough getting a house in plymouth at that price point for sure. Looking forward to see how everything goes. Keep me in the loop!

Wow, congrats! What made you go the cml real estate route?

Congrats! What an accomplishment! ! The 25k is awesome but I am sure the education/experience from getting your first deal completed (with all the obstacles) is worth much more! Paving your way to financial freedom! Keep it up!!

Congrats!!

Welcome Kyle! There is a ton of stuff to learn here.