All Forum Posts by: Dan O'Neill

Northern Michigan Rental Property Owners Association

Northern Michigan Rental Property Owners Association (NMRPOA), a non-profit organization assisting landlords and real estate investors, will be meeting Monday, September 11, at noon at Harrington’s By the Bay. Please arrive no later than 11:45 a.m. if you are ordering lunch. Guest speaker for the lunch meeting will be John Kessel whose topic will be mold in the home. All members and interested parties are welcome. To RSVP and for more information email Chris at [email protected].

@Jessica Harriet

It depends what type of property you are looking for. Move-in ready SFH's, 3-2's and 4-2's are getting pretty expensive to the point where they don't make sense as rentals but you can still pick up small homes, 3-1's and 2-1's which need some work for <100k. Depending on the area, rents could be $900 - $1200, more or less. Vacation rentals are very viable here as well. It's a vacation spot with beautiful summers and tons of sandy beaches all along the coast. A person bought the property right next to my rental at the same time as me and does weekly rental on the bottom unit and 12 month on the top. She is getting >$2k per week for her 3-2 unit. I love living here. If you can handle the winters it's a great place. Summers are absolutely awesome.

I have owned a rental in Burlington, or rather just across the river in Winooski.  It is a university town with lots of young professionals. It has a large teaching hospital as well. I rented out a 3 bed 2 bath condo there for 5 years for $1700/month and that was likely less than I could have got as I had 0% vacancy for the 5 years.  My tenants were always groups of 3 young professionals.

I now live in the Traverse City area.  There is a big shortage of rentals in Grand Traverse County, Leelanau County and Benzie County.  There is some new inventory coming in TC, high-end stuff and more reasonably priced rentals are always in short supply.  I am currently working on my first MI rental, a triplex in Benzie County.   

Northern Michigan Rental Property Owners Association

Northern Michigan Rental Property Owners Association (NMRPOA), a non-profit organization assisting landlords and real estate investors, will be meeting Monday, August 7, at 6:00 p.m. at The Traverse City Elks Lodge. Please arrive by 5:30 p.m. if you are ordering dinner. Guest speaker for the evening meeting will be Attorney Anders Gillis who will be speaking on evictions. All members and interested parties are welcome. For more information email Chris at [email protected].

@Melody Everett-Neddo

@Jake VandenAkker

Do you have any specific criteria your looking for? What kind of property? SFH? Small multi? Vacation rental? Fixer and if so degree of work req?

@Jake VandenAkker

What are you looking for recommendations for?

Northern Michigan Rental Property Owners Association (NMRPOA), a non-profit organization assisting landlords and real estate investors, will be meeting Monday, July 10, at Harrington’s By the Bay. Please arrive by 11:30 if you are ordering lunch. RSVP is required. The meeting will begin promptly at 12:00 p.m. All members and interested parties are welcome. For more information and to RSVP please email Kathy at [email protected].

@Melody Everett-Neddo

Northern Michigan Rental Property Owners Association

Northern Michigan Rental Property Owners Association (NMRPOA), a non-profit organization assisting landlords and real estate investors, will be meeting Monday, June 5, at 6:00 p.m. at The Traverse City Elks Lodge. Please arrive by 5:30 p.m. if you are ordering dinner. All members and interested parties are welcome. For more information email Chris at [email protected].

What about taking the loan personally then transferring to LLC after?