All Forum Posts by: Jack Parking

Valid point @Joseph Cacciapaglia, I think I'm one of those investors who think that foreclosures are automatically a good deal. I'm not wishing foreclosures on anyone, that would be such a difficult thing to go through. I'm just wondering if these foreclosures will flood the market a little bit and turn west MI into a buyers vs a sellers market. 

Wow, thanks for the great advice guys

@Nathan Broekhuizen @Matthew Irish-Jones initially the plan was to live in the SFH ourselves for 2 years and then rent it out when we buy a third (or potentially 4th) property. I guess its safe to say we aren't looking to generate a cash flow from it right away (Although we have been keeping an eye out for properties with the potential of turning the basement into a separate apartment).

I would love to pick up a foreclosed property; do you guys feel with everything currently going on that we will see a wave of foreclosures in the next 3-6 months? 

Hi all. 

I am a new investor looking to get into the market. But I need some advice. 

I am in the Grand Rapids, MI area, which is an incredibly hot market right now. Properties are gone in a matter of hours. I am currently renting, but keep getting bid out by other buyers. Initially I was looking at MF units (duplex) but now I just want to get out of renting and start building equity, so I've been looking at SFH.

Here's my question:

I have 100k roughly to invest. My plan is to buy a property now and then use the equity in that property to buy another one in the fall (Which will hopefully be a duplex). What would be the best strategy to use this capital? i.e. put a 100k downpayment on a property, or save some of the capital for the second property? 

Any advice would be appreciated