In this episode, I interview a pair of brothers who are killing it in Michigan real estate. They have a portfolio of rentals, as well as a thriving fix-and-flip business. These guys have been friends of mine for about four years now. I have always been impressed with them, and I was thrilled when they agreed to be on the show. I think you’re going to learn a lot from these two guys.
Here is what Andy and Ray are currently working on: they just filled the sixth rental property in their portfolio. Their goal is to increase their rental portfolio by another four to six properties this year.
On the fix-and-flip end of their property, they currently have six houses in various states of renovation. A couple are on the market, a couple are in the middle of rehab, and a couple are closing in a week. This year, they plan to flip a total of 18 houses.
They both quit their job about a year ago to become full-time real estate investors. Since then, they have really attacked their business and are doing extremely well.
Andy handles most of the renovation and project management of the rehabs. Ray is a licensed realtor and does most of the acquisition, negotiation, and sales. Together these two are a very powerful combination of skills and ability.
One of the biggest mistakes that they see new real estate investors making is not knowing their target market very well, and therefore making mistakes on which house to buy. If they had to start over and build their business up from scratch, they said the first thing that they would do would be to get out and start networking immediately. Another great way to build their business would be to try and partner with an experienced investor.
firstname.lastname@example.org – Ray’s personal email address. Shoot him an email if you want to get in contact
(313)506-8000 – Ray’s personal phone number.
facebook.com/detroitrealestate – Great place to see what Andy and Ray are up to and connect with them
Dropbox – a great resource for sharing files. Andy in Ray use this in their business all the time!
Asana – an incredible project management tool that the guys use in their business.