Anyone here from Michigan?? I found this website a few weeks ago and I think its great! It seems there are alot of people from Texas, and a few other states but not many from Michigan. I’m glad I have someplace to ask questions as I start this adventure. I’ve been reading about real estate investing for a while and like many before me I have procrastinated to the point where I am fed up and what to change my life. My plan is to find a mentor and start wholesaling my first 3 to 5 deals to build up some reserve. Then flipping retail and also holding for long term. Any suggestions would be greatly appreciated.
Hello!
I live in Detroit! I am very new to this business. I am still in the information gathering phase and have not done a deal as of yet. However, I have found a few good vacant properties and I am planning to contact the owners tomorrow. I just finished finding the property tax info etc.
There are a few RE Clubs in Michigan. Where do you live?
I wish you much success!
Your signature is newREI in Det. If you are in the Detroit area there are several excellent investment clubs. There’s one in Novi that meets the second Tuesday of each month. There’s a Wayne County real estate investors club and one in Oakland County. Go there, shake hands, listen and learn!!! Find someone to help you, answer your questions and tell you what not to do. These clubs are really invaluable and there are a lot of good people who are making their living by investing.
Oakland county’s website is the following: I’m sure a phone call could produce a similar club in Wayne county.
http://www.reiaofoakland.org/
Nice to see a few Michigan investors on this site!
The Wayne County REIA is www.reiawaynecounty.org. It meets the first Tuesday of the month. It’s a hike to get there from the northern suburbs, but well worth the trip!
There is also another group of landlords called DOLLARS, www.dollars.org. It meets in Warren. Have to have 10 properties to become a member, but you can attend the meetings as a non-member. It is the third Thursday of the month.
There is also a group called American Landlord Association that meets in Detroit. It’s still a small group, but there have been some excellent highly relevant speakers including the the director of Building and Safety and representatives of the water co. If you invest in Detroit you’ll know why a meeting with the water co. is huge! Their website is www.americanlandlord.net.
Kim Drake
Hi I am Eleasha and I am in Michigan as well. My partners and I are still pretty new at this as well. We all have backgrounds in mortgages, and real estate sales agents. But we are taking our real estate careers to the next level with our investing. We do wholesale, lease options, bank REO’s and Mortgage notes investing. I have just joined the new real estate investors REIA Group and I have been a member of the Oakland County REIA. I would say HANDS down joining a REIA is critical to your success!! You gain a lot of knowledge and extremely good contacts for networking through them.
Hi Ciecie66,
I visited your website… how has business in Detroit been for you and your team?
Things have been moving quite rapidly for us now that we have gotten focused and making quite a few contacts in the industry. How are things going for you?
Eleasha
Well, it’s starting to progress… I am in CA, so you know prices are inflated as inflated can be… I wanted to start out by wholesaling properties, but people in CA want FMV for properties that need major rehab work… So I figured i’d buy out of town. I have a pretty good team of people that I work with and the pace should pick up…
Hey there…
I’m in Grand Rapids. I just found this site a few days ago, and have been glued to it. I’m trying to learn as much as I can before I begin things. I have a friend that is a Realtor, and he will become my partner to get things going.
I get so excited when I read all of the success stories about other newbies who have taken the next step.
Well folks those of us that are fairly new and have made offers and those that have just found this web site, one thing that I have noticed is that as a REI you can not do this ALONE… you HAVE TO HAVE a TEAM!
For example: RE Attorney to ensure your deals benefit you and your assets are protected, Tax Expert to help you pay as less taxes as possible, Mortgage expert to ensure that you are getting the best rates for that particular deal and there are others… Without these folks at your disposal you could be losing money…
Do any of you have a TEAM set in place to help you in this new career path we’ve all chosen? Stay focused and keep studying!