All Forum Posts by: Lauren Reed

@marshallleipprandt Thank you for your thoughts! I agree, research definitely needs to be done to assure a return as some areas just don't seem viable at all. As a new investor I'm interested in buying, rehabbing and renting but I'm afraid the returns won't be great outside of the Corktown & Midtown areas.

Hi Fellow BP Members!

I am interested in learning and investing in Detroit and surrounding areas. I grew up in Detroit and love so much about the city. I have been away from the city for about 12 years and now want to move back towards the area and start to invest in the homes in the area. I love the structures of the homes, and vast architecture of the many neighborhoods, but I am not sure of the best locations to start looking.

I would love to hear from anyone that has had some experience investing in Detroit. What were some of the best and worst locations you investing in? What stood about about the neighborhoods and would you invest again or avoid? I would love to hear about any successes, troubles or any advice as a newbie investor looking to take on this big city.

Have any investors in the Detroit area purchased Duplexes or 2-story flats within Detroit? How did these deals work for you? What was your strategy? I'm interested in investing in duplexes there but with Detroit being such a particular market, I would like to get some advice as to how to approach these so that I get the best return on my investments. Thank you for any advice!

Hello,

I was wondering if anyone has suggestions on the best sources to find foreclosures? I know that looking thru the MLS and local papers can provide some good leads but what websites or other resources do investors use to find deals?

Hi @Jake K., First..Welcome to BP! I am a new member as well out of the Detroit area in Michigan. Reading your post, i understand exactly where you are coming from. I have been researching real estate investing for MONTHS now..without taking the action due to the dreaded analysis paralysis. I am in the same boat as you with limited personal funds and credit which has been a source of discouragement while I try to save. However, I have made the conscious decision to start taking the necessary steps in order to make my goal a reality. Wholesaling is one thing I would like to tackle, but BRRRR is a strategy I really want to get into.

The best advice I can give is to just dive right in. The goal is progress...not perfection. Continue to read as many blogs, books and articles as you can in order to educate yourself on the topic and to reach out to those that are doing what you want to do! Create a plan of attack..write down a list of steps that you want to take towards your goals and keep it somewhere that you can see it all the time. Look up and go to your local REI meetings or perhaps reach out to an investor friendly real estate agent who can give you some assurance to the types of options and financing that is available out there, and lastly keep notes of your progress. It is really motivating when you can see exactly what you have done, and can help drive you to want to tackle more.

I wish you the best in your journey. I look forward to seeing you around the Bigger Pockets site!

Hello BP Members,

My name is Lauren and I am a new member located in Ypsilanti, MI. My goal is to implement the BRRRR strategy, but I am interested in becoming knowledgeable about all forms of real estate investing. I come to this site looking to soak in the bounties of information provided and to meet and connect with other investors in the area to learn the in's and out's of finding deals and flipping properties.

While I have limited experience in real estate, I have much experience in office support; including social media marketing management, website creation and managed a few customer service teams, dealing with retaining and bringing in new clients in various fields. I have experience working with various personalities which I believe is a great skill to have when scouring for deals!

I look forward to connecting with you all here on this site and at local events!

@Stephen Meche Welcome to Michigan! I am also a new member to BP currently located in Ypsilanti, MI. I am interested in BRRRR as well within the Wayne and Washtenaw County areas. I wish you the best in your progress. From what I've read and the podcasts I listened to on this site, you will surely get any assistance you may need.

@Account Closed I have experience in Marketing / Social Media management, Website creation and document control. I also have over eight years experience in customer service roles and managing customer service teams and accounts retention.

@Rumen Mladenov Thank you for your advice! I have considered that, but I wasn't sure how that would work, as I have only been in my home  for two years. This is something I definitely should still research as I want to get started very soon.