All Forum Posts by: Nick Hudspeth

I currently live in Royal Oak, MI. I am wondering what my best option is to start as an investor. I am unsure whether to start with a SFR closer to my location in the metro Detroit area or possibly invest in a STR up in northern MI (possibly Traverse City or other vacation destination)

What areas in Metro Detroit have the best cap rates for SFR or residential multifamily rentals?

Does anyone have experience they would be willing to share about investing in MI? I am open to all suggestions and conversations. 

Thanks,

I just purchased my first property for a house hack in Royal Oak, Michigan. I am extremely excited to be starting my journey in RE investing. I am looking to build my network and knowledge about investing in the Metro Detroit area.

I have read many books and listened to many RE podcasts to get to this point and it is a great feeling to finally close on the first property to really begin the journey.

Looking to share information with local investors. Also willing to listen to any advice I can get from experienced people!

I am in the middle of purchasing a duplex in order to house hack. Should I set up a LLC to collect the rent payments? or should I just collect them in my name?

Will the LLC give me any tax benefits or anything?

I plan on purchasing more rental properties in the future. Probably in the next 1-2 years. Would it be easiest to just set up the LLC now?

I am 24 years old and have a house in mind that I am looking to purchase a property and house hack. It was originally a Duplex but the last owner converted it into a single-family. I am looking to convert it back into a duplex.The kitchen in the upstairs unit was removed for a laundry room. It should be fairly easy to convert back into a kitchen, I would assume, although I have essentially zero handy-man skills (Looking to improve, however.)

The location is almost perfect and I can't believe I found a place in this great of a spot. Very Close to the nearest downtown.

For Rental purposes should I form an LLC to collect rental payments? I plan on using a conventional loan with 3% down in my name. Is this the right move? Is there anything else I should be thinking about?

Thanks in advance!