All Forum Posts by: Rodolfo Santin

Thanks all, for the comments. I think I'll get a HELOC as a future tool, buy my next house with 5% down with previous savings and rent out my current one. Does anybody know great broker with biggerpockets mentality to work in this area ?

Thanks for the recommendation @Michael Smythe. Indeed the cashflow in the houses I have analyzed seems very challenging at the moment. Do you have any recommendations for a B market in this area that would be wise to review? 

I see the new construction as a bit of a rough learning curve and I am not sold on it but I find it interesting since at the moment the W2 can sustain the monthly cost seeking for cashflow in a few years. I appreciate the comments 

Hi @Travis Biziorek, your situation is very inspiring. First of all, congrats for your great snowball effect ! Seems like efforts are paying off.

It would be very interesting to understand the asset class and the markets in which you were effective. I like a lot the idea of using HELOC for a short period of time and paying it back quickly to try to mitigate interest variable rates volatility (to an extent). I'll look up the renegades and go to the meetings. Is there any secret handshake that should learn to get in?

Thanks for the interesting approach @Michael Thach. As you mentioned I lost my ideal chance for a refi, and then HELOC became the only option to tap into that equity.

I thought extensively about the Airbnb approach and it is an option, although in the area the comps don't look fantastic. It might be one strategy to keep in mind to be flexible in the next months. 

It was a long time during the renovation and I agree on not spending that much time anymore. By a chance do you have any suggestions of a nearby area to house hack?

Hello to the community, 

I have been looking for creative ways to take the next step. I bought a fixer-upper in Troy MI in 2020 for 240k, it took me around 1.5 years and 55k to finish the project while living in the house and a full-time W2. The current value of the house is around 340K, therefore at the moment, I am sitting on 100k equity (plus the loan payment of the past years). Also, I have been renting out one of the rooms for the entire past year and things are going well. 

I want to keep house-hacking ideally but now with duplex, triplex, or fourplex in Troy MI or around the Detroit suburbs. I have not located anything that works for me in the market and at the same time I see the evolution of costruction going towards modular costruction. To me that makes a lot of sense and it is very interesting as everything seems to be up to code and more efficient.

My current thought process leads me to buy the land and work with a construction company what is in the field of modular construction and duplex. 

The problem is I don't know where to start. I am about to get as many calls as possible to construction companies and try to figure this out and then I think it would be better look for available land and start from there, and then another thought comes to mind. 

The goal is to cashflow in a year or two when the 2 units become completly invesment properties. 

The other challenge is that I have 100k in equity sitting on my current house and I don't know how to acces it in a smart way without selling the property.

I would love to know if there is any RE investor or agent in Michigan that is in a same path or has done something simliar.

Thanks all!

Hello BP community, 

I am a new investor after cash flow / buy and hold in Troy, MI. I bought a house with the intention of doing a live-in-flip and I learned in the hard way that I couldn't do everything myself. Right now I want to finish this project soon so I can move on to find a next deal but I am lost in the search of a handyman or a contactor can anyone point me in the right direction? I am also looking for how to tackle a cost effective exterior painting.

Even I can help the contractor to do the work if that helps, I just don't want to go through the learning curve of the remaining repairs.

Thanks I'm advance.

Hi Gary, I found a plumbing LLC will be doing my rough plumbing, the rest I can handle it.

 Are you working doing something in the Troy area or mostly Detroit?

Hi Eli, I wonder if you ended up finding a good plumber. if so would you share the contact? I am starting in this world, just bough my first house in Troy, MI and I intend to house hack but I need a plumber to rough in a new bathroom addition. If I end up finding a good one to a reasonable price I'll post it here.