All Forum Posts by: Jeff Jansen

@Robert Damato following this thread... I to just got a tri-Plex under contract yesterday wondering the same thing.

Just put a rental property under contract in Ionia Michigan. Is anybody invested out there? What are your thoughts on the market?. Seems like a good area in between Grand rapids and Lansing.

yes, that is correct. I guess my biggest concern is having a $500,000 loan and only $830 coming in. Like I mentioned in the description...Newbie here. 

Tomorrow afternoon I am going to look at 2 neighboring 4-plex's. Asking price $250,000/ea. with $3,000/ea. income. I am using my HELOC for the %25 down payment. After running the bigger pockets calc. one building with cash flow $830 the other $950, then I need to take out $900 for HELOC payment. Does this still seem like a good investment? Looking for any advice available.

Thank you!

Thank you for your response and input. The house just sold in 5 days. Too bad it looked like a nice rehab.

I just looked at a 100 yr old home yesterday that will need to be rehabbed. I'm looking to live in it for 6-12 months during this process and then turn it into a short term vacation rental. It looks like there is water seeping up through the basement floor. Mold does not look to be an issue, the rest of the house is a typical hundred-year-old home that needs updating. My question is, should the water seeping in the basement keep me away? Or can an Everdry company come and fix the problem?

Thanks!

@Adam Detig ok great, thank you. I will look into that.

Long story short,. We are a family of four looking to relocate to the Austin Texas area from Michigan. Ideally I would like to house hack a duplex for the first year or two then hold as an investment. How do I go about getting a conventional or FHA loan without having any work history at the time of the move? (since I'll be staying a new job at the same time). Is this going to be an issue with bank funding? Any tips or experience with this?

Thank you for the feedback! I'll definitely be diving in this weekend. 

Hey everybody! My name is Jeff and I currently live in the West Michigan area.  I am looking to get started in the rental property world via the duplex. My biggest problem I am running into is where do even begin to look for these properties for sale other that craigslist or zillow/trulia?  What is the most effective way you have all found to find the right duplex for sale? Thanks, Jeff