All Forum Posts by: Jason D.

Welcome! A lot of great areas in Michigan to invest in! Educate, pick one and go. Best of luck.

Depends on what your looking for. Typically, a nicer house, school district, walkable neighborhoods are more expensive, draw a "better" tenant but also cash flow less. Some are fine with that, if you are then target something similar. I focus more on working class B type neighborhoods. Houses may be older but in good condition, little lower price and better cash flow typically. Some will argue harder tenants to manage, however if you screen properly some of that can be avoided. You can just as easily get a bad tenant in a more expensive house if you are careless with the process. Best of luck!

Not crazy, I think many on this site wished they'd started at 18. Keep reading and learning until your confident in the path you want to take. Entering college and the demands with that need to be considered. If you move off campus your second year, buying a house and renting out rooms while living there would be one option....I'm sure others will chime in with more. Figure out what your comfortable with a go for it.

Have something planned for when you wake up. Coffee, a workout, walk and plan your day...I have gotten up around 4am the last 7 years. Always tired but I'm tired when I wake up at 7 on the weekends too. Once it becomes habit it's much easier. If your waking up for the sake of getting up early with no plan then it will be hard to adhere to for most. Best of luck!

A lot of investors looking for the same thing. Unfortunately I have more people to avoid doing business with than I do great referrals. I'd be interested in hearing from others in the area. Best of luck.

Living in that property for a year as an owner occupied seems like a small sacrifice to potentially save yourself $60-80k in DP. No idea on your living situation but you could potentially turn that $100k into 3-4 other properties in as many years. Best of luck!

The bank I use for my properties allow for tenants to direct deposit with just my name and birthday. They are given both and know the account "name" to tell the teller. They have no other info, including my actual number (I use google voice for all tenants) and do not know my home address as all mail is sent to a PO Box. Never had any issues and I never keep more money than what rent has been deposited in that account. Once it's in, it's transferred and all is well.

Guys- I have searched the file place but am still in need of a "change of ownership doc" showing the addresses of units being transferred (sold) and the effective date. This is for two Veterans who are tenants and are receiving payment assistance. The office I am dealing with and their case worker do not provide any such form and the closing company says they do not either. When asking for clarification I've gotten very short, not helpful answers. Anyone else had experience with this or have advice on finding something that will suffice? Thanks in advance.

Find the owner, approach them with an offer. Doubt they'll say no if it's been abandoned, just a matter of finding what they want vs what you can't pay/what it's worth. If it's been empty a long time tread with caution...could be some major issues.

I just went through a similar situation actually. Older seller, husband had died and was trying to sell off remaining properties. Can't speak to the issue with 2 houses on or lot but, when initially looking into my situation one of the properties was purchased so long ago that there was not a recent sales history over the last 30 years. Also, both had been purchased through LC from previous owner so they did not come up on MLS either. I purchased 2 properties and was trying to combine them into one loan but could not w/o doing it as a commercial and I was running into issues when pursuing that route...one of which was the low purchase price for a commercial loan. In the end I had to do 2 separate mortgages, one for each property. I got a lower rate this way but more paper work and a longer process overall (long story there). We agreed on an overall price for the two and then named a price for each to match the overall offer. This left me a little more equity in one property off the bat. This was my first dealing with this situation, I'm sure others are more versed in the situation your describing....best of luck and congrats!