All Forum Posts by: Ryan Shuchman

If you aren't going to live in it the taxes are 935/mo not 700. Welcome to A2!

Wow nice find. All the big $$$ stuff was already done.

The home is in ypsilanti township, MI. There are some C areas nearby but this is a very solid B area. It was listed on Hudhomes. I tried to do offmarket/wholesaling myself but my job is just too crazy to support it.

Steve, I just checked as I was curious. I don't think we have the notarized rule in Michigan over 12 months. Most of my tenants are seeking security that they can settle down for a longer period so they are drawn to a multi-year term.

All of mine are SFH for now. I keep looking at multi-unit, but with a full time job SFH is a very easy manage for me and I don't want to rock the boat.

Nice find. Have you found with 2 beds you get higher turnover? My model is longer term leases as I hate turnovers.

Just added my ninth property after about a year of looking. I promised myself I would wait for a better deal after the last few were good, but not great.

SFH purchased cash for 77k, appraised for 105k, 15yr loan at 4.25% for 73k.

Leased it yesterday for 3 years at 1235 with rent bumps every 12 mos.

Back to the hunt :)

I take the average for the area, using several of the above, and add 100. My units are usually nicer when i'm done upgrading and people want to rent from me after meeting. If I don't get a good one then I go down in 25 dollar increments. 

1. about 2 months

2. Part time

3. MLS

4. near home

5. approx 10 years, 8 SFH

6. 2 hours a week

If I was 23 with no wife/no kids/no huge pile of junk to move I would be buying owner occupied, fixing up at night, and moving in 9 to 12 months. Rinse and repeat. 23 isn't a problem its a gift.

4 kitchens, 4 (or more baths), etc. 1800 in annual repairs non-reserve seems light to me.