New Member in the Detroit Suburbs

[Chris H.]

Hi everyone!

I've always been interested in real estate, and after doing a lot of research and reading a lot of books over the last few months, I've decided to finally take the plunge! Just closed on my first investment property (single family home) and I could not be more excited. I'm planning on using a property management company to do the land-lording, as I work as a full-time project manager and that takes up the majority of my time. I did purchase the property in my own name, rather than using an LLC or a corporation, and I paid 20% down with a mortgage from the bank. My next big decision is whether to pay off the mortgage aggressively and move the house into an LLC or corp for financial protection, or if I will go with an umbrella insurance policy and continue to invest in new properties. Any advice is welcomed!

- Chris