All Forum Posts by: Michelle Chowan

@Emilio Basa, our goal is to replace our income and have our retirement using rental properties. We are in the process of house hacking our first multi family- but we would really like to get started in some flips in the meantime. Our goal is to be able to quit our current jobs in less than 3 years, have 5 multi families/ small complexes, and perform 2 flips a year. We are technically "wholesalers" right now because that's what we thought that was our only option. We're starting to realize that's not all true- and being that we're in our 30s with 3 small children- we are interested in building wealth and replacing income sooner than later!!!  We are willing to work in a 30-45 minute radius from macomb- so up to lapeer, west to Waterford, (might dabble as far as howell) east to st Clair, but want to stay north of 11 mile as a general rule. What are your methods and where do you do business? Thanks for asking.

I am interested in finding a partner and doing our first flip. I can never seem to get a straight answer for what exactly the holding costs are made of, a list with what kind of fees. Insurance Mortgage payments of any Property taxes Commissions Title insurance Utilities How do you calculate all of this? What am I missing? Trying to get a partner for funding and am willing to split the profits in half- but I'd like to be 150% prepared before I pitch the deal to a potential partner

We are planning on investing locally at first, it seems too overwhelming to do something far to start. I will message you now. Thanks!

My husband and I are embarking on a new lifestyle of real estate investing. We are determined to learn! We are looking for partnerships at this point, and building relationships who will help us grow, and whom we can help as well. We would love a solid professional colleague in whom to have partnerships in the near future. We are all about learning and gaining experience! Is there anyone in this BP crowd (metro Detroit) who would like to discuss plans and partnering for the future? We would love to meet over coffee and share our goals and hear yours as well!

We have always wanted to move out of state, and with our children being young and homeschooled, this would provide us the perfect opportunity to get away for a couple years to see how we like it. Given that we will be living for free, we can then rent our unit out if we decide to come back to Michigan. Also, my husband works for Waste Management, and he can transfer to any yard. I LOVE AMISH culture. We took a vacation there last year for a week and we fell in love. I'd much rather be in the Buggy City than the Motor City. :)

Hi! My husband and I are searching for a quadplex to house hack in for a few years. We are currently in Michigan but the realization of moving out of state just hit us. If there was a time to do it, it would be now.

We are looking for investor friendly realtors in the Lancaster area, since we are looking for a quadplex to house hack. We are also looking for a lender who specializes in FHA loans, since that is all that is available to us. We are pre-approved in Michigan, but it was no easy task so we need someone who really knows what they're doing.

Any input on the REI market in Lancaster and surrounding areas must be considered obviously, so please share!

THANKS!

House hacking, living in one unit and renting out the others.

We plan on house hacking in a quadplex multi family home. We are ONLY FHA eligible due to past issues. We are concerned that the quads we can afford won't pass the FHA inspection. Are quads as a primary residence 203k able?

We plan on house hacking in a quadplex multi family home. We are only fha eligible. We are concerned the quads we can afford won't pass fha inspection. Are quads as a primary residence 203k able?

We plan on house hacking in a quadplex multi family home. We are only fha eligible. We are concerned the quads we can afford won't pass fha inspection. Are quads as a primary residence 203k able?