All Forum Posts by: Ethan Evans

@Nathan Kirgis, where is this Michigan tax calculator/estimator that you refer to?  I need to try this out!  I'm in the Lansing area as well.

Hello David and fellow Lansing area investors!   Is anyone meeting or doing zoom calls lately?  I'm looking forward to meeting more of you while learning from and enjoying conversation with you all.

Ethan Evans

I'm in the education phase now as I'm keeping up with the podcasts and reading Set For Life now.

I am slowly working on warming my wife to the idea of using some of our reserves to buy an entry level rental home/duplex, but have also started thinking about whether going to house hacking, even if it's more on the "luxury" end with having an ADU or separate mother in law suite might be a better approach.

Question:

From a numbers and practicality standpoint, am I better off to upgrade my personal residence so I can house hack, or take that same cash and put it towards an entry level B or C class rental home?

I live in the Lansing, MI area.

Thank you all in advance for any advice you can offer!

Ethan Evans

I love what is often said on the podcast about financial freedom and independence, and how that allows a person to live their life the way they want to with intention.

I, like many of you, am a hard worker and that can easily turn into an imbalance that's detrimental to my wife and kids.

I'm looking for advice and any examples from those who have made intentional decisions to put family first, while also making wise and aggressive financial decisions to move toward financial independence.

I greatly appreciate any advice or input.

Thanks for the response and welcome, everyone!  I have been devouring the podcasts too, they're great!

@Sean Sloop...

I used to live in the twin cities, so that's cool to see you're from there!

Nice to meet you, thanks for letting me know who you use for PM.  I think I looked at DS Huber a while ago, I'll have to give them a second look!

Thanks for the tip on the 30 year mortgage. I have heard that, and am weighing if I want the flexibility and be able to save towards the next purchase, pay for fix up costs so I can BRRRR it, or what.

Thanks again!

Ethan

Hello!  My name is Ethan Evans and I'm new to Bigger Pockets and investing.  I live with my family in the Lansing, MI area and am looking to buy my first investment property as a buy-and-hold rental.

I have a real estate agent that I've worked with previously and am now getting an LLC setup for this first property. I grew up as a Dave Ramsey so I want to do a 15 year mortgage on my rental properties, but still have more learning to do about other types of financing and what makes sense for my strategy and comfort level.

I am also seeking a quality rental management company as I don't want to manage all of the day to day as I'm getting started.  Any recommendations are most appreciated!

For the property itself, I want to start small and buy under $80,000 either a single family or multi family home, preferably with tenants already, and something that's already in good condition.  I'll try some fixer-uppers later on; my day job keeps me pretty busy right now.

I'm looking forward to meeting many of you in the forums and value any advice and encouragement you can offer this guy!