Looking for Michigan Triplex and Investor-Friendly Realtors

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Looking for Michigan Triplex and Investor-Friendly Realtors

John Baluch
Troy, MI · Member since 2016 · 9 posts · 0 votes

Hello BP Community,

I'm looking for a Triplex / Fourplex in the Detroit Metro area. I am primarily interested in the following surrounding areas:

- Novi, Royal Oak, Auburn Hills, Livonia, Ann Arbor.

I am planning to buy during the first quarter of 2017, and I plan to purchase more within the subsequent years.

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  • Fady Fareed
    Investor · Novi, MI · Member since 2016 · 72 posts · 31 votes
    9y

    hey @John Baluch how are you planing on funding these deals? are you taking out loans, cash, HML?

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  • John Baluch
    OP
    Troy, MI · Member since 2016 · 9 posts · 0 votes
    9y

    Hi Fady, 

    I'm going to use an FHA / 203K loan for the majority of the cost. I believe that the MSHDA program lend me $7.5k for the down-payment if it's in Washtenaw and Wayne counties (I wouldn't qualify in many other places), but it's not a deal breaker if I can't use MSHDA. I have my own cash saved up for the up front costs. Somebody also mentioned that MSHDA might not cover multi-family properties.

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  • Emilio Basa
    Wholesaler · Sterling Heights, MI · Member since 2014 · 335 posts · 105 votes
    9y

    @John Baluch - Hi John. Good luck with finding some properties for yourself. PM me and I can help you out if I can.

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  • John Baluch
    OP
    Troy, MI · Member since 2016 · 9 posts · 0 votes
    9y

    Thanks Emilio!

    0Reply
  • Sarah Lorenz
    Specialist · Ann Arbor, MI · Member since 2016 · 356 posts · 191 votes
    9y

    What is your price range?

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  • John Baluch
    OP
    Troy, MI · Member since 2016 · 9 posts · 0 votes
    9y

    I'm comfortable around the $150k - $180k range, but I would go up to $250k if something great comes by. With that said, I don't want to exclude anything without a proper review.

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  • John Baluch
    OP
    Troy, MI · Member since 2016 · 9 posts · 0 votes
    9y

    One more thing BP community,

    I haven't found a realtor yet. Are there any here in the Metro Detroit area that are experienced with multi-family properties?

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