Mike K intro SE Michigan
Well...I read Rich Dad Poor Dad a while ago. Since then I have wanted to use Real Estate as a investment/cash flow investment but haven’t approached it as a business. I am ready to make that turn.
I currently have a home in Jacksonville, FL that has been rented for the past 6+ years. It was more out of necessity than preference. I was way underwater.
I recently bought a home in Warren, MI that is up for rent. This is the start of my Real Estate for cash flow endeavor. It was a totally rehab project that should be a BRRR hopefully. I haven't done that yet but that is my plan...
I also own a home in the Rochester, MI area that I am thinking about renting and buying another home in the same area. This would offer me the ability to fully realize my equity that I have build since 2012. Not sure how this would work or the stipulations that a lender would place in me...
My background is homebuilding and building materials but the finance and investing is new to me.
I am looking for a CPA recommendation in Southeast MI before I get to far down this path. I might sell my FL home since there is actually some equity there now, too. A 1031 exchange might be my path.
Well. We shall see go this goes.
Mike