Hello all,I got started in real estate at 19 years old when I closed on a junky $59,500 barn-looking-house 4 miles away from the University of Michigan-Dearborn.

So i need some advice and wanted to see if i could get your opinion on a deal im looking at.My name is Rodrigo. im an investor in michigan and i have 3 properties which include 4 units, one is a duplex. househacked the duplex for 3.5 years.bought a single family last october (traditional financing) and 2 more houses (one i will live in) under a land contract, with only $7000 down per property. total rent gross is $5605/month.So all my places are within a block of a a college that doesnt have enough housing for its students so they have to live off campus. we are full until summer 2020.The person that sold me the two houses under land contract is offering me 3 more properties on land contract with minimal cash down, around $10-15K per property he using a gross rent multiplier method to price these so heres the break down. all houses below are rented through summer 2020.property 1older house maintainted well 4 bdrm monthly rent is $1550 property taxes are around $5000 annually.1 block-2 min walk to campusnew roof furnace and water heater in last 5 years.cashflow around $300 monthly using my number of $650K for everything.property 2 duplex 4 and 5 bed units, rents for total $4040/monthlots of new stuff in 2017 interior and exterior.literally across street from campustaxes are about $10,000 annuallycashflow around $900 monthly using my number of $650K for everything.property 3 single family next to duplex. new construction in 20175 bed gross rent is $2300, also across street from college, taxes around $6000 annually.cashflow around $589 monthly using my number of $650K for everything.land contracts are 6% interest, 30 year amortization, trying to push the balloon to 7 years ( he seems flexible on the balloon and down payment).at a gross rent multiplier of 8 (his number) im looking at a total of about $750K, but i like the number better around $650K which is about a 7 gross rent multiple.

I live in TX and currently work with an “acquisition company” that basically is a well organized wholesaler business.I also invest in MIchigan and I’m looking for recommendations for a similar company where I can work with an agent that deals with off market properties.

Hello,We are closing on a SFH  in Dearborn, Michigan.

For example, here in Michigan there’s a Rural Loan program that allows 100% financing and down payment assistance.

Out in MI, this would most likely mean to sell on a Land Contract. 

The advantage is that once you have a certain amount of equity, the MI drops off.

House is a 3-1 in SE Michigan with an ARV of $280k, still negotiating but I can likely get them down to $200k (that I’ll give in cash from a hard money lender).

Hi Everyone,My name is Marcus and I am a licensed realtor in the state of Michigan. 

I'm active in Michiana (NW Indiana through SW Michigan) Let's link up.