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19 December 2024 | 22 replies
If you want to be an active investor, to be successful, you need an advantage.
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18 December 2024 | 4 replies
We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.
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17 December 2024 | 2 replies
I've been successful at renting out detached garages on a few of my properties.
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19 December 2024 | 3 replies
Hey Bigger Pockets community, I'm just starting out in Step 1 (get educated) on what I want to become a successful career in real estate investment.I also currently run an e-commerce business that is currently completely online, but would benefit from having a brick & mortar storefront, and I had an idea that maybe using the investment capital I'm looking to allocate into real estate into a commercial property my business can operate out of until I decide to sell the property in or rent it out to another business.I am obviously very naive when it comes to the complexity of any good real estate deal (especially commercial VS residential), but I'm hoping to spend as much time learning from everyone here who is on their journey as well.My main concern with the idea of buying commercial to operate my business out of it that I might struggle to rent it out afterwards and that there may likely be depreciation in the commercial real estate market over the next 5 years.I understand there is a lot of nuance depending on the local market but I'm guessing commercial is even less of a "safe" bet than finding a solid residential deal to leverage in some way.
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23 January 2025 | 165 replies
It seems like you are pretty successful.
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28 December 2024 | 8 replies
Especially when there was far wealthier people than me spectating my journey, and probably highly successful and well to do people here reading this.
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20 December 2024 | 19 replies
Hi Shawn-Congratulations on starting out on your real estate investing career.You have a question about whether it is good to have your real estate license or not as an investor and you are leaning toward multifamily investing.I personally think having your real estate license is helpful as an investor.Having your real estate license allows you to work with other investors to help them build their portfolios which helps expand your network while being productive, you can research market value more effectively, find out about deals before they are listed, and of course it allows you to collect the commission on purchasing any listed property.To Your Success!
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18 December 2024 | 1 reply
Nice - congrats - hard to find Multifamily DSCR Loans at that size but looks like you successfully executed!
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17 December 2024 | 4 replies
How to find a mentorNot every successful person will make a good mentor.
19 December 2024 | 5 replies
Wish you much success in your ventures and Happy Holidays!