All Forum Posts by: Tammy Thompson

In 1999, I bought a 1/4 acre lot in Northern MI. We excavated it, but in a well, septic, and slab for a single wide mobile home.  Moved the home on to the property, and never went back.  The well, septic, and electricity was never hooked up.  

My husband and I are considering using this property as our first "investment" but I'm not sure how to determine if we would be better off selling it or using it as "start up funds."  I would guess the mobile home is in major disrepair and would probably need to be removed and purchase a new one. Our other option is to leave it as vacant land and sell it. 

We plan to visit the property in the next few weeks to determine what we are "up against." Our thoughts are to get a construction loan to put the new trailer on it, have it attached to the slab, reassessed as real property, then rent it out (we have friends close to the property that would be willing to take care of it for us) or sell it.  Then use those funds to buy properties in KY where we currently live.

Any thoughts or suggestions would be greatly appreciated as we are unfamiliar with the market for vacation rentals in that area. The property is surrounded by State and National forests, 5 mins to the AuSable River and a neighborhood lake with a beach and fishing.

I am on Day 3 of my membership in the BP family and a bit overwhelmed at the wealth of information and success stories available. Getting into REI was actually my husband's idea even though I have been in the Real Estate industry (off and on) since 1996. So imagine my excitement that he is on-board with my passion.

Posting in forums, completing my profile, and basically "putting myself out there" is my first step in getting out of my comfort zone. My next step is to start attending REI meetings in the area. I am an introvert, so these first steps will be a challenge but I also realize how important "getting out of my shell" is to our success.

I would also like to express my appreciation to everyone in the BP community for being so welcoming and being willing to share their knowledge.  I am inspired by everything BP has to offer.