New member in Livonia Michigan

[Ed Sena]

Hey Everyone,

Excited to be part of this community.  In the short time I have been a member, I have been able to learn and pick up some great knowledge and insight.  Hope one day i can contribute as much as some of you.

I work from home as a web developer and my wife is a physical therapist.  We are expecting our 2nd child in December and have been thinking of ways to create additional income because we are choosing for her to work 8 days per month (so we can keep her benefits).  We have been educating our selves via some great investing books and learning materials right here on Bigger Pockets!

Currently looking to purchase a rental property in the Ypsilanti and Ann Arbor corridor. Based on our personal understanding and working with a really good realtor in the area, we have determined that a short-term rental situation may be a strong option  (airbnb, homeaway, etc...)

We have so much to learn and are loving it!  Any insight and perspective on the following questions would be great!

1. Any suggestions for lenders that can do a construction loan, then mortgage on a rental property?  We are looking for no more than $200K, have excellent credit, and cash.

2. Does anyone know of a parcel or house in the Ypsi / Ann Arbor corridor? Not listed on the MLS.

3. Would love to hook up with a mentor or like minded investors in the Livonia area.

Have more questions but will ask later in other parts of the forum.

Thank you!

[Keri Middaugh]

one idea is to drive around the areas you like and look for For Sale By Owner. There is one on Pearl street in Ypsi. I agree that the area is expensive, especially the neighborhoods close to UM stadium. I would advise you to keep your options and strategies open.

Best wishes,

Keri