All Forum Posts by: Keri Middaugh

I just saw that 114 W. Michigan is for sale for $259,900.   Stewart, is this one of yours?  Here is the description:  Welcome to beautiful downtown Ypsilanti! This immaculately maintained historic building features over 1800 square feet of retail space and two beautiful apartments on the second floor. This would be a great opportunity for an investor, or an owner occupant with a monthly income of $2,450 and all tenants interested in staying. This building is as beautiful as advertised and is sure to impress.

I'd love to see something wonderful go in here!

I've lived in Ypsi for the past 13 years or so, and here's my take on it.  The city of Ypsi has some culture but the property taxes are very high due to the fact that EMU comprises such a large part of the land.  Ypsi township is cheaper but lacks culture and character.  Then, there is the big brother/little brother tension with Ann Arbor, plus the vacant warehouses.  All that said, those who love Ypsi REALLY love Ypsi and are very loyal.  I plan to invest here!

Excellent info.  I'll be keeping this in mind next time I visit an auction.

We own 2 single family rental properties that are cruising along just fine, and we'd like to expand our real estate portfolio.  We also have a private lender who is willing to loan us $50,000 for our next purchase(s).  My question is this: what is the best way to maximize this money to really jump start our portfolio?  Buy a very modest single family home in a cash deal? Use it as five $10,000 down payments on 5 modest single family homes (and mortgage the rest of the purchase prices)?  Use it as a large down payment on a multiunit property?  We'd like to generate enough passive income to leave a job within the next 5-10 years. Thank you!