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All Forum Posts by: Devron Goodwine

Devron Goodwine has started 7 posts and replied 34 times.

Post: Looking For Investors in Michigan

Devron GoodwinePosted
  • Posts 34
  • Votes 11
Quote from @Taylor Ford:

Hello everyone!
I have been in Real Estate for more than 6 years and I am looking for Investors In Michigan.


 Guess I'm the newbie from Michigan investing. I'm in the Saginaw area.

Quote from @Alan Asriants:

Usually I have a no pet policy. But in some cases I will allow pets. 
If I allow pets I: contact previous landlord about tenant and pet, and I will actually visit their current place to see how they take care of it. 

Generally speaking, how clean the animal is says more about the owner than the animal


 This sounds like a plan I'll have to use. If the pervious owner can vulture, then I may concerned it.

Quote from @Albert Johnson:

We allow pets and charge a pet deposit and monthly rental for the pet. Like most people on here at least fifty percent of renters have pets.


 I did not know the percentage is that high. What price range of property would you recommend? 80k and up?

Quote from @Nathan Gesner:
Quote from @Devron Goodwine:

How do you determine if you'll allows pets in your rental property?  And what's the worst experience anyone has had when allowing pets in your rental property? 

If a pet tends to keep the renter long then I encourage it. And the comment about the emotional support animal is so true. I think there trying to put more regulation to that rule. It happening with support animal boarding flights.

About half of all renters have pets. If you do not allow them, you lose out to half the renters in the market or the renters will just get a fake prescription for an emotional support animal and you'll be forced to allow the animal but not allowed to monetize it.

Instead of rejecting animals, figure out how to protect yourself while monetizing it.

Personally, about 1/3 of my rentals allow animals and we rarely have a problem that's not covered by the security deposit. Good renters are good pet owners. 5-year-old boys are rougher on houses than most pets! Pet owners tend to stay longer and pay more because they know it's hard to find a good pet-friendly property.

Quote from @Adam Martin:

I allow and encourage dogs but no cats.  I’m extremely allergic so that makes me more cautious but cats stink up the house far more than dogs.  I go as far as to ensure every house practical has a fence to encourage them and charge 35/per dog plus a 600 additional security deposit.  Although most of my tenants had dogs I don’t have any stories outside of I feel I may have to stain the deck more often but that is cheap and I’m well ahead what I have collected vs paid out in wear and tear.  If I had the choice of 2 tenants relatively equal I’d pick the one with the dog for more revenue and additional deposit.  These are single family and I may feel different with dogs in multi due to the noise.  


 Great explanation. If you had to put in the fence yourself, would it still be a good investment with only $35 extra a month?

How do you determine if you'll allows pets in your rental property?  And what's the worst experience anyone has had when allowing pets in your rental property? 

Quote from @Michael E.:

Hi @Devron Goodwine. Most of the posts about Saginaw are 5-10 years old (or more) but I'm in Saginaw. I don't have a rental in Saginaw but I'd love to connect with you.

 What would u be looking for if you were to invest in Saginaw? 

Post: What are my option

Devron GoodwinePosted
  • Posts 34
  • Votes 11

Thank you, I appreciate the advice. 

I'm noticing that there's not to many originally 2-4plexes. Their turning these huge homes into duplexs and maybe a 3plex if it has an attached garage. The most valuable markets are on the Westside of town and the township of Saginaw. The North, East and South end of Saginaw is considered lower income which I don't mind investing in. 

Post: What are my option

Devron GoodwinePosted
  • Posts 34
  • Votes 11
Quote from @Marc Winter:

Way to go on your first project!  I'd agree with @Robin Simon--rinse and repeat with the BRRRRR method.

And, keep in mind the following:    The VA loan program is designed to help veterans secure housing for themselves and their families, so the property being financed must be intended for the borrower's own occupancy as a primary residence. Therefore, using a VA loan for an investment property, rental property, or vacation home is not permitted.

I will have to stay in the property for a year which is plenty of time to rehab a 2-4plex. I'll have no rehab fund and will have to pull out of pocket to complete it. I can pull the equity out of the 1st property but will have 2 loan to pay. Is that smart?