All Forum Posts by: Jake Lowing

I use an online bank account like Ally or ING Direct and have them auto deduct money from my bank account every time I am paid. That way I know I am saving exactly what I want to. And having an online bank account, it is harder to withdraw from making it easier to not spend it!

Hope this helps,

If you run android I use Google. They have free software like Tasks, Calendar, Notes and it is easy to use when going from phone, to tablet, to computer etc.

Hey Eric!

Being young and having small pockets myself, I have dealt with the same things you are. I have attended REI meetings myself and found that people really do appreciate that I had the courage to attend. The thing about mentors is that most of them WANT to help (and if they don't then they probably shouldn't be mentoring anyone). Your job is to listen, take notes and show that you are actually serious about expanding your knowledge base and network.

Just remember when asking for someones advice they don't want it to go in one ear and out the other. They don't want to see you attend one meeting, ask for help, and then flake out. Show them commitment. 

Have you ever helped someone by answering their questions? Doesn't it feel good to know that your knowledge may have helped someone change their life? That's the mentor mentality. 

Knowing what you know now, what would you do differently if you could go back to your early 20's?

Thank you everyone for your input! I am going to look deeper into the rental and see if the numbers will work in my favor. 

Overall, I love Grand Rapids as an investment. The city is growing tremendously and has around a dozen colleges in the city itself. Next to Detroit it is the second largest city in the state and is in the top 10 places to relocate according to MarketWatch!

Hello everyone!

I am a 21 year old landlord // Sales Manager // Business Owner // College Student from Grand Rapids Michigan!

I had a great 2014 and I hope you did as well! 

I started the year focused like a hawk... I discovered BiggerPockets in December of 2013 and fell in love. I remember going through each and every podcast/article I could find (I was a sponge). I was inspired by Brandon Turner's concept of "House-Hacking" and knew that would be a great start for me! I took the plunge on March 4th when I went to the closing table (an hour after I accepted a management position with the company I worked for, what a great day :) 

This has put me in a great position. I increased my income by accepting the position and decreased my housing expenses to $0.00 and I am cash flowing about $200.00/month! By renting out the top 3 rooms and sleeping in the basement.

In 2015, I hope to do the same. I would love to get into a duplex this year and I am looking to grow in my career!

This is a very brief introduction considering everything that has happened in the last year. It has its downsides (A LOT OF WORK), but overall I have surpassed many of my peers (and that is a great feeling). With sites like BP, I have the guidance and advice needed to make huge impacts on my personal life. SO THANK YOU BP TEAM!!

Hello everyone! Today I am doing my Biggerpockets due diligence and setting up my profile // leaving iTunes podcast review (5 Stars!)

My first forum question:

I purchased my first rental property last year at the age of 20! So far it has been a great success. I am house-hacking and cash flowing about $200.00 a month, this has allowed me to put about $1200 into the bank each month. Now I am looking to invest again. My first home is a single family 3 bedroom 2 bath house in the Grand Rapids area. I am looking to invest in Grand Rapids again. There is an area of Grand Rapids (East Side) that has boomed within the past few years after the city came in and did some renovating. Now they are looking to do the same within the next 2 years on a popular (but run down/low income) area on the West Side. Right now there is a home for sale that sits on the exact street they "plan" to renovate.

My question would be, how should I factor this into my investment analysis? Do I start looking in that area for rental/appreciation play even though it is lower income with a higher crime rate? Or do I take the city's plans with a grain of salt? And who should I contact about planned city renovations?

Assuming I will be purchasing a duplex and personally living in one of the units, I want it to be safe. I also am just starting my investment career and do not want to put myself in a bad position at the start.

Thanks!

Jake Lowing