All Forum Posts by: Janeea Wright

@Matt Hurley great advice. I will look into getting those code books soon. Do you have any realtors you recommend in the Ypsi area? 

Can I also ask where about in Ypsi? The places we were looking at are near/in Depot town.

My husband and I are educating ourselves and wanting to get started in real estate investing. (We'll also be first time home buyers.) In particular we would like to do some form of house hacking but multi-family home availability in Wayne county (excluding Detroit) and Washtenaw county seems scarce and even more difficult trying to find one to fit our needs with having young children. We were thinking of purchasing a home at a low enough price point where we could build a basement apartment. Are accessory dwelling units legal in the Belleville, Canton, Ypsilanti area? Do you think it's worthwhile to build an ADU if legal to rent to a tenant? Or would it be better to buy and hold a SFH that we could rent after a couple of years if we can't find a multi-family suitable for our needs?

I am currently getting started in real estate. My husband and I would like to house-hack our first property. There are limited small multi-family properties in my area and some of them have 1 unit leased until next year. My analysis of the deal showed good cash flow(if I'm not missing anything). I've also come across some properties that we could invest in without house-hacking but both units are leased. Is it recommended to entertain a property that already has a tenant or should I stay far away? What are some pros and cons of purchasing a property that already has a tenant? 

The thing that causes me the most confusion is estimating repair/re-hab costs and ARV and determining reserve amounts.

Thanks. Like a basement suite? 

I am in the education phase of real estate investing and hoping to get started soon. My original plan was to house-hack a duplex/triplex, live there for a couple years and either repeat or purchase a single family home. I am not seeing many multi-family homes in my area of interest. My brief research concluded that trying to convert a single family home into a duplex may not be cost effective. What’s the best way to invest in single family homes if I have to go that route?