All Forum Posts by: Joseph M'Mwirichia

Hi Fuchi, assuming all the inputs are accurate, your cashflow at ~$50/door is very poor, especially for the Detroit area. What part of Detroit is this? I lived in the area for almost 20yrs. You at the very minimum want to cashflow $100/door on MFR and have double digit cash on cash returns in 90% of the markets.

Sounds like a police case, followed by the local lending association. Every state has one, and should be easy to revoke his license given the track record.

Welcome Leland! A house hack is absolutely the way to go, especially in greater Ann Arbor area, you'd have no serious problem finding renters either within your own circle to start, or from the community at large.

We lived in the A2 area for about 15yrs before moving south. BE GREAT!

Great work Matthew!

Congrats!

Hey Brad, you are in the right place. Start with listening to the podcasts, identify what you are good at, could be finding distressed properties, analysis, or phone skills, etc. Leverage that as your knowledge grows and while at the same time connecting with local real estate enthusiasts. You'll find your footing soon enough, then it's off to the races.

@George Blower solid intel. One could also transfer funds and open true self directed IRA with a custodial group like Equity Trust and then use those funds a little more freely.

Indeed, lots of options...if the funds are there to deploy.

Massive CONGRATS! Are you self managing this rental?

CONGRATS! That's a true value add and your are being rewarded handsomely for it.

Massive CONGRATS...on to the next one!