Hi from Grand Haven!

[Erich S.]

Greetings from Grand Haven, MI.  After about 20 years of stock market investing, I'm looking to diversify our family's portfolio with some rental property.  We are currently looking in the Holland/Grand Haven/Muskegon area for leads and ideas.  Being new to this style of investing though we are taking it slow and working on learning the ropes.  I appreciate the wealth of information on the forums.  Happy investing all!

[Erich S.]

Thank you very much for the informative reply Julie!  

I've been on the fence about MF homes. Clearly, the more units you have under a roof the better the return in terms of income/mth. However, I'm concerned about resale later. The pool of potential buyers is so much smaller since it is basically requires either an investor or, at least someone interested in becoming a landlord. Still, it's hard to not like the numbers involved relative to SFHs. Since I'm primarily interested in diversification at the moment, my guess is that if we do decide to jump into real estate, it will probably be in a more mixed form. . . starting with a SFH and picking up one or two MF later.

Out of curiosity, do you happen recommend anyone around here for investment property financing? It's my understanding that after about 3-4 places, most conventional banks will be quite hesitant to loan any further.  Since you've got 7-8 to deal with, I figure you must've already gone down this road. 

Thank you very much once again!