All Forum Posts by: Wendy Patton

Feel free to reach out if you need any contacts or people in MI - We have 1200 members in our group.  

@Drew Sygit is correct.  He would know as he does property mgmt.

@ken 

@Ken M. well said   Many investors think they are the same or close to it but all are different animals (or cars).  Every type of creative financing is unique and yet they are all in the same family.   My specialty if you ever want to ask any questions.  I have written books on these topics also.... 

I have a great book on subject tos if you are interested - check it out on Amazon.   but i will gladly answer any questions you have also 

@Connor Anderson I know it's a little far but feel free to check out our meeting also - it is the largest in MI -  metro Detroit.  and we have had many members and visitors from your area that drive -  it happens to be tonight also

@Jesus Schwoerer If you are in Metro Detroit please look us up - I host the largest group meeting in Michigan for investors and we happen to meet tonight.  I also have some great resources for you here.

of course i will say MI - but agree the midwest is best for cash flow and cost of entry.

@Sarah Steinhaus there are many great places in the city of Detroit to invest, however, you are right that there are some that aren't so great.   If you are planning to invest in the city, you will want to work with someone locally who won't steer you wrong.  There are some scammers (like anywhere) that are over selling properties in the city.  If I can ever help you, please reach out.  I don't work with buyers myself but i do run the MREI and know many who are reputable.

@Stephen Fleming.I agree with everyone above who talked about your capital gains being tax free - this is something to consider very seriously.   

also for Michigan deals - once you move from your personal to rental in MI you have to rescind your homestead exemption and your taxes will likely be close to double.  Check with your township on this as this will completely change your "cash flow" expectations.  We always think we will have a certain about of cash flow, but the you have to add extra taxes in MI, vacancy, repairs, etc.   I hope this helps because this is crucial (especially in the city of detroit - taxes are very high)

would love to touch base to share events and schedules with you for our down state group