Hello everyone my name is Kevin Armstead, I am in a similar situation as Jesse, I live and want to invest in Canton Michigan, I'm about 45 minutes west of Detroit.

I just met with an investor who's originally not from the area went to college in upper Michigan but came here for a job with an ad firm who does marketing for Ford based on a scholarship incentive.

@Jason M.  I

Michigan landlords and investors should be happy with these new statutes.

Kudos,Mary Actually he can he can do a conventional first mortgage at 80% through any bank that funds agency loans sold on the secondary market to fannie mae and or freddie mac and stack it with a 10% second through TCF bank and have no monthly mortgage insurance.TCF Bank:1 or 2 units maxmust be primary residencemin 700 fico middle scorerates as low as 4.24% if your combined loans are 89.99% LTV then its 5.24% (1.99% + prime) interest onlyMax 18%adjustable monthly, payment interest onlyOption two is he can use a conventional MCM mortgage if his income conforms with local median incomes and if he is a first time buyer you can buy 1-4 units as primary with only 5% down (subject to MI company) and potentially no MI if structured correctly.

For those in markets where you don't need to buy "dumps, and slumlord" houses to cash flow them, (like here in Michigan), the above analogy is backwards.  

My name is Shaun Huston, I'm from the Western Michigan area.

Bruce M. I

My cousin just bought a place in Michigan and the agent he was using promised him 50% of his commission for using him.

Hey BP,I have a potential deal in Southfield, MI that i would like to wholesale and i am a bit unsure on how i should structure my contract for purchasing this property.