All Forum Posts by: Chris England

Thanks for the input fellas. I'm having a hard time deciding on purchasing a 2 family or a single family home. My opinion on a duplex is you will get more turnover and problems compared to a single family. This will be my first deal and I want to set myself up for success. I'm trying to look at all options so I was considering section 8 also. 

I'm considering purchasing a duplex in the Detroit area. This will be my first rental property so I'm still learning. I'm curious if anyone has experience using section 8 in the Wayne county area and what there opinion is on it? Also what's the process of getting your rental approved for it? Pros and cons etc. 

Thanks for the help guys. Obviously there will be a lot of questions starting off. 

I'm from the Metro Detroit area and I'm considering purchasing my first rental. Talking with the bank today my broker told me that in order for him to do a loan the amount had to be at least 60k. After my 20-25% down. I've dealt with this broker on several other deals and have always been satisfied. I'm just curious if banks will no longer loan less then 60k on a investment property or is this just the mortgage company I'm dealing with? Any feed back would help I'm new to Realestate investing.