All Forum Posts by: William Strickland

Quote from @Michael Smythe:

@William Strickland is your property finished and rented out yet? What city is it in?

Not finished yet but finally making some headway with it. It’s located north of Detroit. 

Quote from @Storm Rowles:

Quote from @William Strickland:

Hi BP community,

Long story short, I have had the vision in my mind for a long time that I would get into real estate and that has grown to be a fairly lofty goal with how big it has gotten. It took getting laid off from my W2 last year to finally give me the kick in the butt to get started. My plan to get started was to get into the industry on the side until I can switch to a full time focus and involvement in companies within the REI realm. With circumstances coming up that required me to move back up to Michigan from Arizona I am now pursuing to be licensed in both states (already licensed in AZ). I chose to become an agent to get exposure to the market, gain access to the tools, and honestly I love looking at houses and want to be able to serve others by ensuring they are taken care of when looking to make one of the largest commitments of their lives. Whether it is correct or not, I see being an agent as a way to get a greater return on my time than that of pursuing the top of a W2 role in the corporate world.

With all that, I finally have purchased my first investment property and I am doing a lot of the work myself to save as much of my capital as possible in hopes of getting into the next property. I don't have any questions or requests other than I would love to connect with anyone in the Oakland County, Michigan area or Maricopa County area in Arizona. I love AZ and the playground of a state it is and plan on having some base there in a couple years. I hope to meet more of you on here and best of luck to all the other newbs out there.

Will

 Congrats Will! Quick question. Are you working on the side as a real estate agent? If so, how has your experience been? I am looking at potentially getting my license on the side to gain access to the tools as well as network. Have you felt it is worth it? 

Hi Storm,
I am currently only doing referrals right now because my first rental and W2 are consuming all of my time right now. While I want to jump in right away, I might just assist a couple agents I know in the area so I can make a few extra bucks for my investment account and maintain the income from my W2 until I can comfortably make that leap. I know this will take longer but is the safer route in my eyes with all the market volatility and potential changes to the broker fee structures (is it finally settled?).

Hey Scott,

I wish I could give some creative answer, but as usual I may have left out some info. I do have a W2 right now which enabled me to qualify for a basic conventional loan. I am currently planning on staying in my W2 for the next few years until I can break free fully. For the loan we were going for a DSCR loan but thankfully we were able to pivot at the last minute and get into a conventional loan with it identified as an investment property which lowered the rate. I used proceeds from the sale of my primary in Phoenix to fund this first purchase. With luck and not much run over, I will have some capital left over for the next property or another investment, which ever one makes the most sense. My strategy is going to be to play it conservative and have plenty of equity in properties intially until I have a decent portfolio where then I can dedicate more time to play in the creative finance realm. I feel I need more knowledge before that happens though.

Will 

Hi BP community,

Long story short, I have had the vision in my mind for a long time that I would get into real estate and that has grown to be a fairly lofty goal with how big it has gotten. It took getting laid off from my W2 last year to finally give me the kick in the butt to get started. My plan to get started was to get into the industry on the side until I can switch to a full time focus and involvement in companies within the REI realm. With circumstances coming up that required me to move back up to Michigan from Arizona I am now pursuing to be licensed in both states (already licensed in AZ). I chose to become an agent to get exposure to the market, gain access to the tools, and honestly I love looking at houses and want to be able to serve others by ensuring they are taken care of when looking to make one of the largest commitments of their lives. Whether it is correct or not, I see being an agent as a way to get a greater return on my time than that of pursuing the top of a W2 role in the corporate world.

With all that, I finally have purchased my first investment property and I am doing a lot of the work myself to save as much of my capital as possible in hopes of getting into the next property. I don't have any questions or requests other than I would love to connect with anyone in the Oakland County, Michigan area or Maricopa County area in Arizona. I love AZ and the playground of a state it is and plan on having some base there in a couple years. I hope to meet more of you on here and best of luck to all the other newbs out there.

Will

Hey Carmen,

I have to admit with a last name like that, I am weary about replying. 

I had the exact same question last year and this is the path I have decided to choose. I am keeping my W2 or a W2 for the time being so I have some stability for my family and a constant paycheck. On the side I have gotten my Real Estate License and I am going to assist a very successful agent I know. I am treating this as part of my business and any net profit from this will go directly into my REI account. As soon as it is feasible I am going to invest into additional properties when it makes sense (numbers/cashflow wise). Eventually, hopefully sooner than later, I will be able to hit my number and switch to my REI business full time and explore other avenues for income streams.

Thats my strategy as concise as I can put it but the hard facts are that I need income to support my family, all I have is determination and grit to get me there on the side. Just the start of my story and I wish you the best of luck in your journey!

Will

Hi Nick,

I recently just moved back up to Michigan from Arizona and I consider myself a new investor as well. I am also licensed in Arizona and planning on getting my license here in Michigan as well. I know a few agents up here but we are over on the East side of the state in Oakland county. Feel free to reach out.