I'm located in the Grand Rapids, Michigan area and am open to properties basically anywhere in southern Michigan (anything south of Muskegon from Lake Michigan to Lake Huron is fair game imo.)I now have a fairly large nest egg of cash beyond all of my other investments (stocks, bonds, treasuries, crypto) and I want to turn that cash into a real estate investment or investments and I think my deep background in tech, systems, and marketing should be able to help me substantially.It seems to me like BRRRR on multifamily units makes the most sense, but I'm open to suggestions.I'm basically retired at this point as the only work I do each week is 3-4 hours of consulting for larger tech companies and I'm on a couple advisory boards.What are the best first steps in building a team and creating the systems necessary to start making deals?

As a lender, we require flood insurance if the property is in a flood zone, which can eat into your cash flow if you want to hold the deal. 

Hi @Josh CarpenterFor our locks, we've opted for the Schalge Encode, and it's been an absolute game-changer for us.

If you hold a property long enough and it is a good one then getting all your money out and ending up paid off is a great thing but for some an asset to leverage.At the end of the day it is all about personal choice.

The seller will obviously hold the debt/note for the existing mortgage while the title gets transferred to me.

Looks like one is better for a flip and the other has an incredible upside with equity so we plan on holding that one. 

@J Shoe I will start by saying consult with a personal attorney and CPA (and have them work together.)Typically people buy in an LLC just to keep their name off the record and for asset protection and operation agreements.As a sole investor a lot of people will buy in their personal name so they can more easily obtain quality financing, and then move the asset into the LLC.A lot of people of California use trusts (DSTs) to hold the asset, so they are not contributing to the problem of over taxation in CA, as CA has a franchise filing fee of $800 every year for each LLC.Just some things to think about, but find the professionals that can tailor a system for you personally.Cheers

Be ahead of the game, grab chances that fit your investing plan, and keep eyes on your money aims.Good luck!

Investment Info:Townhouse buy & hold investment.

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