All Forum Posts by: Riku Kiyokawa

Hi Bp community, I recently graduated college and have been working in SoCal that gives me steady income. As much as I want to implement the brrrr strategy out here, the price tag on homes out here are too expensive and out of my reach. It will take me quite some time to save up to put a down payment. My father and might be temporarily(<5years) moving to the metro Detroit area from Japan for work. Thus I was thinking about putting a down payment on a duplex or single family home and renting it out to him and someone else. Royal oak/Detroit area is definitely less expensive than socal so I would be able to make a down payment. I can trust the tenant because it will be an immediate family. If I go with a duplex I feel like that my father could be my business partner/property manager and look after the other unit. Do you think this will be a good opportunity to begin investing in real estate and becoming a land lord? Please let me know if there are creative ways I could finance the project in my situation. Thanks,

Hi Bp community, I recently graduated college and have been working in SoCal that gives me steady income. As much as I want to implement the brrrr strategy out here, the price tag on homes out here are too expensive and out of my reach. It will take me quite some time to save up to put a down payment. My father and might be temporarily(<5years) moving to the metro Detroit area from Japan for work. Thus I was thinking about putting a down payment on a duplex or single family home and renting it out to him and someone else. Royal oak/Detroit area is definitely less expensive than socal so I would be able to make a down payment. I can trust the tenant because it will be an immediate family. If I go with a duplex I feel like that my father could be my business partner/property manager and look after the other unit. Do you think this will be a good opportunity to begin investing in real estate and becoming a land lord? Please let me know if there are creative ways I could finance the project in my situation. Thanks,

@Jeff F. Thanks for your input! When the down payments are low @3.5% the monthly mortgage would be on the high side. But I'd assume that it would not be an issue as along as I have tenants that pay rent to cover the mortgage cost correct?

Hi all,

I will be graduating from college soon and am thinking about buying a home as a primary residence/investment instead of renting. I plan on renting out the extra rooms. 

What are some of the pros and cons of buying a house out of college?

Some forums recommend waiting to buy a house until settled mid-career, but why not start early?

If a career opportunity pops up in a different location, will having a home make it difficult to relocate? Can't I just hold onto the property and collect rent income?

What are your guy's thoughts? 

Thank you everyone for the input!

@Carson M.I look forward to speaking with you, go green!

@Charles Kao Not much capital to work with as I am paying for school. I am at an internship in California working for an electrical engineering/contracting firm so I do have a source of income at the moment. 

I can estimate project costs, scheduling, subcontractor coordination as well as tracking and verifying subcontractor work (qa/qc). Basic project management skills

Hello all!

My name is Riku, a senior at Michigan State University studying construction management.

I am interested in buying fixer uppers, and selling them for profit or holding onto them to generate passive income. I have basic knowledge in construction from my field of study but I have only taken one class on real estate finance so I have limited insight on how to get the capital to begin investing.

I have looked into buying the books by Brandon Turner on rental properties and the books by J Scott. Are there books in particular you guys recommend I read in order? As of now I am thinking that I need to read books about procuring capital to begin investing. 

I would greatly appreciate it if you guys could point me in the right direction!!

Also if anyone in the Lansing area is seeking another hand on their project, I would be more than happy to offer my service in exchange for the experience and knowledge you have in real estate investment.

Thanks for reading!

Riku K