All Forum Posts by: Account Closed

One great resource that has helped propel our company in social media is the book "Twitter Power" by Joel Comm. Irregardless of your initial thoughts on Twitter it is a powerful tool for businesses when employed properly!

Andrew,

When choosing a domain name the shorter the better for branding purposes. Also, avoid special symbols (like -) and numbers. This helps to keep it memorable and easily communicated to your potential visitors!

Joe,

We are obviously in an extremely unique and one of a kind economic situation. My philosophy is to get into deals that make financial sense in the current moment, and in the future (5-10 years) they are going to look even better!

Delondon,

I have done many deals since then, ranging from Land Contracts to flips! My first deal was the most interesting (and lucrative) thus far!

Thanks for the support.

Russ,

Congratulations on joining BP. You are in the right mindset, setting your goal at 1 deal. The first one is always the toughest to take the plunge but from then on the opportunities are endless. Good luck!

An interesting book that is a must read for all investors is "The Richest Man In Babylon."

It is a staple for anyone's book collection and conveys a message through old world story telling!

Thanks guys! It was easy for me to get in other deals after this one, because the rental worked out so well.

I drove by the rental a few months ago and they even updated the landscaping. I was very fortunate on my first deal! It is a good feeling to know that the tenants take pride in their home as much as I do.

John,

It did need some work, I put roughly $3500 into it. Nothing major, mostly cosmetic (carpet, paint, minor flashing, new kitchen floor).

After speaking with the owners of the company (who I bought the property from) they told me it was a extremely good deal. I also landed a great tenant, a young family with a little baby on the way. They were not Section 8.

I like to think it was due diligence hat helped with my first very successful deal, and of course a little good luck never hurt either!

Tod,

It happened in 2009. 3 Bed/1 Bath was the minimum or entry point I was looking for. Anything above and beyond would have been great but I found my target. It has been a great performing Rental for me. There are more deals out here in the Metro Detroit area if you know what you are looking for!

My first deal was an interesting one!

I started out going on individual showings with a Real Estate Investment firm throughout properties in Detroit and the surrounding suburbs. After going through many, many properties I narrowed my focus as to what I was looking for.

From that point forward I was on the lookout for a 3 Bedroom, 1 Bathroom, Ranch with a 2 car garage in a hard working neighborhood. A few weeks later the Real Estate Investment firm contacted me with a great deal! It was a foreclosed property with very little repairs needed. I bought it for $23,000 and collect rent on it for $925 a month.

Since my first deal I have done a varying range of other deals from Land Contracts to Wholesale flips.

I now work for this same firm (after pestering them with 1000s of questions) and I am really enjoying everything about the business. It has become my personal goal to spread the great news about the opportunities in Real Estate for those who never have even considered it.

I feel very fortunate to be in the position that I am in and cannot wait to pay it forward.

The best advice I can provide for a new investor is to not be afraid of taking the first plunge. Do your research and once you make the first move you will never look back!

Take care!