All Forum Posts by: Thomas Daugherty

Thanks everyone for all this great info. I'm sorry if I don't get back to everyone individually. However I am reading everything!

I'm very much hoping to never go back to w-2 employment. I am getting ready to start a lawn mowing business. I do need money coming in lol. I've also looked at other options but all are working for myself.

Thank you so much for answering. Lansing and Ann Arbor are close and I have looked at both areas. The problem would be the cost of homes in Ann Arbor is very high and out of my range for now. Lansing has the same problem as Jackson. However there are areas of Lansing that are nicer and safe. I think once I have the first STR up and running mining then I will start looking for the next deal. I do like the idea of short term over long at this point. I think once you have the right systems in place they can be less work on the owner. Would you agree or am I kidding myself?

Hi bigger pockets family. I need advice! I worked as a corrections officer for 23 years. It was awful and I had no pension. So I quit. My wife supports us right now. I'm 47 and for the first time have no w-2 job. I took all the money from my 401k and a HELOC loan. I have $105,000. I'm in the process of buying an STR property. I have run the numbers over and over. It seems like a good investment.

My question is with the remaining $45000 should I invest in a long term rental? I'm in the Jackson Michigan area and there are a lot of rentals in the city. The problem is the city is not very good.

I can get a triplex for around $100,000. I am just worried I will have so many problems as to not make it a good investment.

Any comments or ideas or advice is greatly appreciated. Thanks in advance.