All Forum Posts by: Erika Koenigsknecht

Thanks Derek!! 

Hey! I recently sold one of my investments and I am looking for my next house to flip.  The investment I sold was in Royal Oak, MI, which is a very hot market right now.  I am looking for a market a little closer to home (Plymouth) with potential.  I am new this and I don't know how to go about picking the right market to begin my search.

I just ordered some books to read before I actually invest--but anyone who has insight in how to research markets or invests nearby and has input on where I should be looking would  be greatly appreciated!  I am considering Livonia/Plymouth/Canton right now but open to suggestions!  Thanks so much!

@Cal C.

@Wayne Brooks

@Rolanda Eldridge

Thank you so much for the information!!

This may be a dumb question but I am just getting started and trying to figure out all of my potential costs before I invest.

Do you have to pay the normal capital gains tax on a property when you sell it for a profit if you are re-investing that money into another property?

Thanks to anyone who can help :)

@Tom A. Thanks so much for letting me know about the spec home. I would love to come check it out. Hopefully it fits into my schedule next week. Thanks again :)

@Account Closed I live in Plymouth so I am looking in Plymouth or Northville for my next investment. My rental in Royal Oak will be my test run for a general contractor since I already own it. I plan to rehab that in the next few months.

@Brandon Krieg Thank you! I will have to check out the Ann Arbor REIA--thanks for sending me the information. I can't wait to get started :)

Anyone have a good resource on how to investigate the market trend in an area before purchasing a foreclosure to flip?

I know I want it near my house but I wanted to look at trends to pick the best city--Royal Oak, Livonia, Plymouth, etc…

Any help is greatly appreciated :)