duplexes in Ypsilanti...

[Account Closed]

HI,

We found some duplexes in Ypsilanti, MI for $80,000. We can easily afford that. They have tenants already and have a positive cash flow. At least that is what it said. Is it a good idea to start out with inherited tenants, at least till we get started? We're really excited about this. What is the market like there regarding REI?

[Keri Middaugh]

Hi Estelle,  I live in Ypsi and can tell you about it.  For starters, Ypsi is wonderful.  We have a university, quality libraries, a variety of types of neighborhoods, a river, nice parks, an artist community, urban gardens.  We also have struggling schools, a bit of poverty, and a distinction between the haves and have-nots.  The taxes in the city are very high, while township taxes are low.  Are you able to come to Ypsilanti and see for yourself?

Experienced investors do not recommend inherited tenants, but sometimes that what comes your way.  I do not have any experience with this myself, but have considered the possibility. 

Best wishes,

Keri