All Forum Posts by: Account Closed

@J Wade

It's very much needed in Michigan, there are a few sources to go through. Reach out if you would like more info.

@Daniel Mendez

You should be looking for where you can add value to a community instead of taking it. When people line up to buy cheap properties and drive the pricing up they dig themselves in a hole that the new/inexperienced people fall into. You will need to look into the areas that have the potential for rehabs, affordable housing, 5+ unit shopping centers, and community redevelopment programs. These are all things that I have found to make money and change the community, I.E adding value.

@Mark Ermence whats your advice?

@Shivam Bhalla

Welcome and congrats on taking the first steps! The best advice I got when I started out was to LEARN, by that I mean take some time to look into your markets and find out exactly what you want to do for the first deal. There are hundreds of options available and its all about finding that right fit that doesn't put you in financial jeopardy. Personally I am a fan of tertiary markets, but that's because we have a housing contract with the government, there is value in these markets that will allow you to grow and experience the ups and downs of real estate investing.

@Jacob Evans

This all depends on those buying in the market and your ability to add value to it. Follow the pattern is generally a safe bet...eventually. I say this because where there is a lot of competition you'll tend to sit on things a little longer. So assuming your purchase price is right, your rehand estimate is correct, and you have enough cash reserves to pay your mortgages and holding cost for about 5-6 months it could be very lucrative or bring you to your knees. If it's your first property I would focus somewhere with a little less risk and more exit potential.

@Ryan Proffit

No worries, I can send you some info youd like.

@Tracie Janoska

Ah I understand. It's still something to look into I suppose.

@Alfredo David

That's perfect, the next thing to do is to find the value that you can bring to that market, is it flips, buy and holds, or anything else without a lot of competition for the first few deals you do.

@Alfredo David

Its apart of the process, I am happy to help in anyway I can. Do you have a market that your currently looking into?

@Tracie J.

I think it's notable that you are trying to get into the affordable housing game, but Sec 8 is a little risky for many of the reasons you listed. If you want something that is stable and fits your mission you may want to consider the HUD-V.A.S.H program, its a housing program for veterans and they have more recourse and resources than Sec 8. I'd be happy yo set you up with my contacts in each area.