All Forum Posts by: Account Closed

HI,

We found some duplexes in Ypsilanti, MI for $80,000. We can easily afford that. They have tenants already and have a positive cash flow. At least that is what it said. Is it a good idea to start out with inherited tenants, at least till we get started? We're really excited about this. What is the market like there regarding REI?

Thanks Scott, 

Kind of hard to do when you're not there.  But I'll try to find a property manager there. I had the opportunity to visit the area when I visited family in Mi, for Christmas.    

Thanks Sara,

That is very helpful.  I can't think of anything else at the moment.

Hi,

I recently read that the University of Michigan was voted top in country. Since it is one of areas I'm interested in investing, I was wondering how that would affect real estate values.  I realize that housing costs are already quite high there compared to other cities in MI.

Hi,

I don't know if this has ever been discussed yet.  One of the problems that I came across was trying to talk to my husband, whose English isn't that great, about investing in real estate. This problem was solved, when we found out that one of his friends has a BIL who is into real estate investing, and in the state that we were interested.  We got his phone number and talked to him and he was able to answer our questions in our own language, so that my husband could understand.  That calmed him down and we're finally able to move forward.  

I have it on my Kindle wish list.  Looking forward to reading it!

I am certainly not giving up!  I have decided to just take it a little at a time. Mostly by reading alot and listening to the bp podcasts. Also, I am doing some networking. In the meantime, we're trying to save as much as possible.   When the time is right, everything will fall into place.

With me it is the opposite.  It is my husband who is hesitant in doing this. Whenever we discuss the possibility of investing in real estate, he'll find a reason why it might not be a good idea. Several years ago, we had lost some money in the stock market, and I think that he's afraid of losing again. We're both in our 60's so there's not much leeway for making up for any losses.  

Having  him read something doesn't help, his English isn't that good and he has difficulty comprehending what he reads.  It has been really frustrating.  We can't agree on anything, we often end up arguing and I end up in tears.  

Thanks for your replies!   The problem is, that we live in the EU and the property is in the US.  From  here there isn't much if anything that we can do.  This has caused a lot of frustration and my husband has been hesitant in doing anything.  Sometimes, I think that this just might turn out to be another dream that didn't come true.  

Hi,

I just saw a listing for a condo, that has a tenant renting already.  The price is reasonable and very inviting.  Is is wise to invest in something already occupied rather than to start with something that is empty?