All Forum Posts by: Tim Wilson

@David Zheng sending the best vibes I possibly can. I honestly can't even relate to what you are going through outside of the hours you are putting in each week. I have been through that myself, not in regards to real estate but I feel like when you get up to that many hours in general it can driver you up a wall.

You mentioned "with no money down and essentially doubled my units" without getting into details you aren't willing to share does this just mean you didn't have it financed, or were you able to work something out with the seller or other investors that didn't require the upfront payment?

-Tim

Hey Courtney, Welcome!

New to it myself and continuing to get my feet wet within this forum. I couldn't help but notice the mention of Michigan. Being from the Grand Rapids area myself I may be a bit biased but we plan on moving back in a few years and I can't say enough about it. Before we left until current the West side of Michigan has been getting a ton of attention for Grand Rapids and the Great Lakes.

This market has been exceptional the last 5 years and has been booming. There is also news of an Amazon DC moving into the area just south of the city that will change the area even more (pros/cons to both sides of it). We sold a house there within the last 5 years that we flipped within a year after buying and ended up getting an offer for higher than we could even appraise for. I personally would highly recommend the general Grand Rapids MI area and would think you could get into it for right around your proposed budget.

Either way, best of luck from an MI born investor.

Hello - To kick it off, if you could buy multiple 80k properties and gross 1k/month positive cash flow after expenses count me in! That sounds incredible. We are closing next week on a place in general Minneapolis area that will be around $300 positive/month and that sounded very good.

Personally after a couple purchases now, we prefer the monthly cash flow over appreciation. Appreciation is great and can be extremely beneficial in the long term through the ebbs and flows of market flux etc but it is the cash flow that will allow you to take addition risks in the short term. Without it at least for most people, coming up with that next down payment is extremely tough.

Aaron - we have used that rule ourselves, I've heard it isn't the wisest thing because you can tend to limit yourself of opportunities but after moving between a few states and a couple of home purchases when we buy rentals we like to have them as a "fall back" per say if we were to come back to the area and want to live in something while finding another house, we would need it to be functional and nice enough for ourselves in order to purchase.

Thanks Anthony. Newer investor myself, sold the last one around 2 years ago and just purchased again to close next week. I will be using all of this and then some! Thanks!