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Feeling stuck on purchasing multi-family properties in Michigan
Hi all,
I'm stuck and I don't know where to start or how to strategize a game plan on how to build my portfolio. I currently have a small portfolio but they are single family homes.
I'm not afraid to buy, in fact I hate money sitting in the bank doing nothing for me. I have a team of 2 other investors, one of which is an experienced contractor so we have that department taken care of.
Is there any way to find cash flowing properties off market? The goal is to buy 2-3 duplexes, tri, or quad units every year and so far I have none for 2024.
We tried to place an offer on one but deal fell through, and another one had a lot more work than we anticipated so we pulled out. Any advice on strategy for multifamily properties would be helpful in terms of narrowing them down, and areas in Michigan to look in. We're currently looking in Jackson, Brighton, Howell, Ypsilanti, Chelsea, Fenton, Whitemore lake, and Fowlerville (Michigan).