All Forum Posts by: Shawn Nofziger

My wife and I are both six figure earners. We have the means to self fund two to four properties off the bat. I know there are pros and cons to each side of this question but is it better to self fund your first deal or to put a down payment for a real estate investment loan? What seems to be the overall consensus on this question? And if the answer is well it depends, what does it depend on?

And my apologies I should have prefaced this by saying I am very new with all of this and am trying to put together a roadmap and plan for where I want to go with everything. I love that there is a forum for being able to ask questions like this in and get a great responses back. I really appreciate it

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Quote from @Jaron Walling:

@Shawn Nofziger If you're green to REI the auctions are not a great place to start.

You should download the lists of properties, research a few, attend online or person, and learn the basics.

It's not as simple as the RE gurus preach on social media. I would not bid on anything. I have done this few times and then compared the sold price to my numbers. In this market the auctions are dry. The majority of properties are not deals. In fact if you don't do proper due diligence some are "traps" with bad layouts, fire damage, and tiny sized lots.

Some RE is perpetually a bad deal. You can find opportunities on MLS and with wholesalers and walk the property. This eliminates half the risk! Most of the auction properties you can't go inside. Newer investors will not understand that if they don't hit a few base hits and get the ball rolling.

Thank you so much for the information. It all makes sense. Great information.

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I have quite a few options in my areas to bid on foreclosed properties. Can anyone share their experience? Was it lucrative? What should I keep an eye out for?

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Thanks guys! That was super fast. I appreciate it.

From the sounds of it, I won't be making that mistake.

So excited to see what is in store with this forum and what my future holds.

Thanks for the help!

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Hello,

I am JUST getting into this and was wondering if there is an advantage to getting my real estate license or do most people do this without one? I don't want to go through with getting one (which I wouldn't mind doing) if there really isn't an advantage. I am really leaning toward multi family units.

If it matters I am in Central Michigan.

Thanks

Shawn

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Hello,

My wife and I are in the Lansing area. We are thinking about doing my first deal and are here to learn and absorb as much as we possibly can. If you're in our area I would love to connect and learn.

Side note - Lansing (the capitol) was not a location option.

Shawn

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Ann Arbor, Michigan

All Forum Posts by: Shawn Nofziger

Shawn Nofziger has started 4 posts and replied 6 times.

Post: Self fund first property or get loan?

Post: Foreclosure auctions? Good or bad?

Post: Foreclosure auctions? Good or bad?

Post: Real Estate License? Yea and nah?

Post: Real Estate License? Yea and nah?

Post: Hello - Lansing MI Here