All Forum Posts by: Ryan Brunworth

All-

Thank you for the input. The advice is much appreciated. I will still have the ability to do my "Day job", just not in the same location as once I sell I'm sure the new owner will want me out of there after a while. Would I love to do REI full time? Yes. But I'm realistic as well. I like the idea of the passive income with buy and hold so now I'm realizing maybe I don't have to make a decision of which route to go and keep an open mind. If the deal makes sense... go for it.

Ryan

I've been taking steps over the last few months to actively pursue career change in real estate.  I have some experience with buy and hold but I'm trying to figure out the best route to go.  It is likely that I will walk away from the sale of my current business with 200-300k to invest.  I'm not certain which route to go.  Buy and Hold?  Fix N flip? 

I've been doing a lot of reading on here lately and I'm still somewhat up in the air. I've read J Scot's books and like the idea of not dealing with renters but I'm also looking for consistent cash flow and I'm not certain I will come across enough deals to make that happen. I don't have any interest in actively seeking deals through marketing and mailers and would likely get most of my deals from the MLS, foreclosure.com, and/or wholesalers themselves. (this may be naïve of me but I'm just being honest as I have NO interested in all the letters and marketing etc.)

I'm not looking for answers.... just input from experienced investors. 

Any ideas?  Thoughts? Suggestions? 

I appreciate it! 

Ryan- West Michigan

Thanks all!  Looking forward to developing connections soon.  This site is great! 

@Dustin Forney- I see you are just up the road.  Good luck with your first rentals!  

 Certain things have to fall in place for me before I jump into this full time, however it would be great to have a few projects under my belt before I sell my business.  I'm looking to get my team set up soon so any leads on contractors that work significantly with investors in West Michigan would be great. 

@Brandon Krieg - It would be good to connect soon. 

Ryan

HI all,

I'm a new member from West Michigan.  Looking to connect with fellow investors and start my transition in real estate investing full time.  I have to say I love the site!  Been snooping around the forums, podcasts and its amazing how much info is on here.  Got J Scott's Fix and Flip books and am working my way through both of them. 

A little about me.  I'm currently in healthcare and have a very successful business.  However, I'm not really enjoying it.    I'm formulating a plan to get out of it completely and get my feet (more) wet in real estate.  I'm hoping to walk away from my business with a good chunk of money to get me started.  I realize I have a very stable and strong income right now but I need a change.  Its been a change coming for several years now and I'm getting close. 

I have a little experience with buy and hold however the homes were dirt cheap and in very bad neighborhoods. (I got excited when I cold buy a house for 5k and 7k). I ended up doing that a few times until I had 7 units. 5 SFR and 1 duplex. I just didn't do enough research when I went in the first time. I ended up in the wrong neighborhoods and the tenant pool wasn't great. Mostly convicts, people getting out of halfway houses, section 8 etc. Fortunately I was able to sell most of them and gave a couple away to those in need. In hindsight wasn't the best financial decision I've made but those people needed it a lot more than I. Anyway, I bought but didn't hold ;-) (very long at least)

At this point, I'm just not sure which route to go.  (Maybe this is for different forum- not sure)  Fix and Flip or Buy and Hold (in better neighborhoods)? As an example lets say I walk away from selling my business with $300,000  after all debts have been paid.  I like the fix an flip model and think I can be successful starting with some cash reserves but I'm not certain if I should take the safe route, use this money as down payments to buy and hold (15) $100,000 properties at 20% down?  

Any advice? Thoughts?