All Forum Posts by: Erin Anderegg
Erin Anderegg has started 7 posts and replied 22 times.
Post: Pontiac Michigan New Investor
- Investor
- Romeo, MI
- Posts 22
- Votes 12
Thank you all for the suggestions and encouragement!
My husband and I just moved to our first home (also in Pontiac) last summer, and due to our stage of life are hesitant to move again so soon for a house hack. Alternatively I've been considering a HELOC or cash-out refinance on our current home to fund the first deal. Any thoughts on which is best?
Our strategy prior to discovering real estate investing was to aggressively pay down our current mortgage in a few years. Now I have been thinking about renting it out when the time comes to move later on, but I'm not sure what would be the best approach. If we have it totally paid off, then when the time comes to rent it the cash flow would significantly improve as there would be no mortgage payment. If we refinance, it seems like it would drag out the entire process for much longer. What do you think?
Post: Pontiac Michigan New Investor
- Investor
- Romeo, MI
- Posts 22
- Votes 12
Hello BiggerPockets! I am new to the site, have throughly enjoyed several podcasts, and a few webinars and found myself here. I work full time as a physical therapist in southeastern Michigan. I am looking to begin investing in Pontiac, MI in the next few months begining with a single family rental. So far what I have been looking at are 50K-70K homes and they seem to rent between 750-900, depending on the part of town. I welcome any advice you have for a beginner, as well as recommendations from investors regarding specific property management companies for Pontiac. Thanks, and excited to be here!