Mike K intro SE Michigan

[Mike Kratz]

Well...I read Rich Dad Poor Dad a while ago. Since then I have wanted to use Real Estate as a investment/cash flow investment but haven’t approached it as a business. I am ready to make that turn.

I currently have a home in Jacksonville, FL that has been rented for the past 6+ years. It was more out of necessity than preference. I was way underwater.

I recently bought a home in Warren, MI that is up for rent. This is the start of my Real Estate for cash flow endeavor. It was a totally rehab project that should be a BRRR hopefully. I haven't done that yet but that is my plan...

I also own a home in the Rochester, MI area that I am thinking about renting and buying another home in the same area. This would offer me the ability to fully realize my equity that I have build since 2012. Not sure how this would work or the stipulations that a lender would place in me...

My background is homebuilding and building materials but the finance and investing is new to me.

I am looking for a CPA recommendation in Southeast MI before I get to far down this path. I might sell my FL home since there is actually some equity there now, too. A 1031 exchange might be my path.

Well. We shall see go this goes.

Mike

[Mike Kratz]

@Mike Kratz

A quick update:

I still own the house in Warren and it has been successfully rented for the past few years.

Purchased a studio condo in Rochester that I am currently updating and it should be listed for rent within 3 weeks.

I bought another complete rehab and it is going through final inspections now. Also, in Warren just a little north. Should rent nicely and is currently listed.

I purchased a commercial property in downtown Romeo through a 1031 exchange from the house in Jacksonville.

I just got another home under contract in St Clair Shores. Another rehab project in my future.

Sold our personal residence and moved not too far to take some of the gains.

So...a couple years and added 5 more doors.

I am looking for easier/less time intensive suggestions and and networking opportunities. Other than BP not many around me are in the RE game.