Pontiac Michigan New Investor

[Erin Anderegg]

Hello BiggerPockets! I am new to the site, have throughly enjoyed several podcasts, and a few webinars and found myself here. I work full time as a physical therapist in southeastern Michigan. I am looking to begin investing in Pontiac, MI in the next few months begining with a single family rental. So far what I have been looking at are 50K-70K homes and they seem to rent between 750-900, depending on the part of town. I welcome any advice you have for a beginner, as well as recommendations from investors regarding specific property management companies for Pontiac. Thanks, and excited to be here!

[Michael McIntosh]

Hi @Erin Anderegg,

I currently have for SFRs in Pontiac and am always looking for more. When seeking new opportunities, I'd recommend you have a list of specific things you're looking for and when you find those items - pounce quickly. The market is pretty crazy right now and prices have increased 50% in two years in some areas. That being said, there are always deals to be found but it's up to you to put in the work to find them.

If you're looking for your first rental, have you considered househacking? If I had to start fresh and I didn't already have a family, I would 100% pursue that path. Not sure what stage of life you're in though.  Best of luck to you!