All Forum Posts by: Keri Middaugh

So great to hear from investors in Dearborn!  I'm eager to invest there and want to learn more.  If you guys and gals every want to meet up for coffee and discussion, let me know!

 Do you mean, look for an agency that is more of a mom-and-pop place, not a national chain?  I am in the same boat, soon to be looking for  a brokerage as a new licensee.  My understanding is that the larger national brokerages offer extensive training geared toward retail real estate.  Anyone have thoughts about training?

@Sarah Lorenz, I was in Traverse City recently for the first time since the 1980s/90s and I thought, "Holy sh*t, this place is the Ann Arbor of the north!" Eateries, wineries, theater, boutiques, novelty sports, all with high prices. The east side of the state (Lake Huron) is much more humble and affordable, but not quite as snazzy.  I imagine the purchase prices and rental rates reflect this.

I absolutely love all this talk about Detroit!  I've been visiting and doing some reading and talking to everyone!  Detroit, like many other cities, has a multifaceted story.  I see that there is a conflict between Old Detroit and New Detroit - some people might use the G-word (gentrification).  As investors, rehabbers, and developers, I feel its of utmost importance to preserve the culture and history of those who have never turned their back on the city - the old Detroiters, and make the new prosperity and opportunity available to them as well.  Do no harm!

I can recommend these fascinating books for those who want to dig deeper (from their armchairs):

• How To Live In Detroit Without Being A Jackass, by Aaron Foley (bonus if you can ID the cover design reference)
• Detroit: The Dream Is Now, by Michel Arnaud (these 2 books alone will show the delicate balance needed between Old and New)
• Unreal Estate Guide To Detroit, by Andrew Herscher (highlights the quirky underground creativity that permeates the city) 

Hooray!  I am so jazzed that people are taking Detroit seriously!

I always recommend @Joshua B. - real estate attorney and investor himself!

@Joseph Abbott and others, I'd like to hear more about Dearborn.  Have the prices been going up steadily, as they have in Ann Arbor/Ypsilanti?  Do you have experience in single family, multi family, both? How are the taxes there, and rental inspections?

Thank you!  One of my goals is to buy a duplex or triplex there in the next year or so.

Congrats on this project!  I think I owe you a  phone call :)

This is a 7-unit in the small town of Ida, MI (southeast Michigan). Mostly 1 bedrooms, good tenants, some long-term. Gross monthly income just under $3000. Annual taxes about $3000.  Asking $149,900. See listing: http://www.realtor.com/realestateandhomes-detail/2...

Hey, Daniel,  I agree with the others in that private money comes from your own personal networks.  That said, one way to develop those networks is to attend meet-ups.  Perhaps you can connect with other investors who are looking to lend out of their self-directed IRAs.  I attend the one in A2, which meets on Tuesday nights.  Maybe I'll see you there!