All Forum Posts by: Michael Dang

Welcome to BP!  Everyone starts somewhere.  Very quickly you'll pickup the lingo.  There will be stumbles. Failure is good.  That means you've learned more.  Just fail quickly and those lessons will be invaluable. Podcasts are also great resources to learn while on the go!

Way to take action @Timothy Casallas!  Agreed with the above.  Study your markets and submarkets.  Read those market analysis's from the brokers and local business journals.  Build a good team support you on your journey.  Thank you for your service!  Looking forward to your posts.

Hi Ben!   Welcome to BP.  You have quite a dilemma.  Yes, it is possible but you need to build a trustworthy relationship with the person(s) on the other end of the phone.  Building a team takes time, effort, and a lot of changes.  You may not find that right person the first time.

House hacking is definitely a proven strategy.  Many have done it.  Why don't you leverage your money and obtain a property $300-400K property?  Think a little bigger.

I don't know anything about Michigan so can't help you there.

@William Graham Bourn - You may want to look at har.com MLS for those smaller deals.

Popmoney, Zelle, PayPal, tenant deposit into bank, or cashier check.

@James Barry

Great choice on a career. You're going to learn a lot. Hope to see you at some tours.

@Justin Lee Taylor. A few things to get or determine.

What are the submarket rents?

What's the upside?

How much CapEx is needed to cure deferred maintenance and improve the asset to force appreciation?

What are your local laws and regulations of purchasing a multifamily deal? Fire Inspection, structural inspection, etc.

Who is going to manage the asset after takeover?

Have you share your underwriting with your lender or vice versa with your lender?

Have you gotten quotes for insurance and other contract services?

Just a few things. I'm sure there are more.

There are a few investment clubs in Houston.  RICH club, Wealth, and a few others.  Meetup.com has a good number of groups to research.

Here's an older thread of clubs

https://www.biggerpockets.com/forums/12/topics/467610-real-estate-investment-clubs-houston-tx

It'll be my first time to this event.  I'll be there!  

Contact Evan Howell Property Management they maybe able to help