All Forum Posts by: Debbie Pelloski

Thanks. I never thought of that! And yes, definetely a mortgage. Escrow just seemed easier as ut doesn't cost more to have it handled but I didn't consider that it would affect my returns

I want to offer on a duplex, as my first investment property, and the city has it zoned as single family, although it is registered as a duplex and a rental and I can continue to rent it as a duplex. Here are the 2 replies I received back from the community development director:

The records I reviewed showed it as an existing duplex. Thus, while it may be zoned as single-family, it may remain an as a nonconforming duplex as long as the use of the house as a duplex does not discontinue for 6 months. Thank you.

You could not rezone it because it would be illegal spot zoning. As noted, it can remain a duplex as long as the use is not discontinued. Thank you.

So my question is is this OK? Will it affect my plans to sell it down the road or any other plans? I would appreciate any input! Thank you in advance.

I'm a newbie in Michigan and property here requires, so far as I've been told, 13 months of prepaid taxes. I'm wondering if I should be figuring that into my cash in cash return since I will need to bring it to close, but will eventually get some or all back on a sale? It is definetely making my numbers lower (sometimes negative in the first year) than I expected, as I'm mostly looking in Oaklamd County, which has the highest taxes in the state.

Thanks for the welcome! We are excited to get started! Our goal is to try to get into 3-4 deals within a year. Our eventual goal is single family only but we will try to find some multi. It's hard to focus as it all sounds exciting

Thanks for the welcome! We are excited to get started! Our goal is to try to get into 3-4 deals within a year. Our eventual goal is single family only bit we will try to find some multi. It's hard to focus as it all sounds exciting

Hi. I'm a new investor living in Farmington Hills Michigan amd want to find an investor friendly realtor that works within Oakland county. I'm currently looking for single family/multifamily in Ferndale, Royal Oak, Berkley, Oak Park, and Southfield. Any reccomendations on behalf of yourself or someone else would be greatly appreciated. Thank you!

Hi, this is Debbie from Michigan. My husband and I are still learning, but hoping to invest in single family rentals (maybe duplexes) in the Ferndale area. We are also looking in Royal Oak, Oak Park, Berkley amd Southfield. My brother in DC is wanting to partner with us in a cheaper market in the future, but already owns a few DC rentals. We are still trying to figure out when and how that will happen, but its fun! We have a ton to learn but are enjoying the podcasts.