All Forum Posts by: Jeff Roth

HI Lamar-

Great question!

I would find an investor friendly Realtor locally that is also an investor themselves or local to the area you want to invest.

They will have experience and connections to help you find and evaluate investment properties.

I would ask the investor friendly Realtor for a property manager referral as the property manager will be an important member of your investing team. They should be involved in the selection of the investment property and giving input on how to maximize the return on investment.

Finally, I would recommend you consider starting with at least a duplex if you can, so you hopefully always have a rent check coming in during a vacancy.

To your success!

Hi Michael-

Great question and an important skill for investors to understand.

I recommend the ABC's of Real Estate Investing by Ken McElroy and Ken's YouTube Channel.

If you are an investor, I recommend finding and using a good property manager for your properties as soon as possible to maximize your return on investment and make owning as passive as possible.

A good property manager is a key part of your real estate investing team.

Get them involved early in the underwriting process of a potential acquisitions and the planning for adding value.

To Your Success!

Hi Shaheen-

Great question and congratulations on deciding to invest in multifamily properties.

There are several markets in Michigan that have affordable multifamily pricing with good cashflow that include Lansing, East Lansing, Kalamazoo, and Grand Rapids.

To Your Success!

Hi Katherine-

Great questions.

As a Realtor and real estate investor in Michigan, I think Realtors that continue to add value regardless of market conditions will be in demand and do well.

Additionally, I think working with real estate investors is a smart diversification of value a Realtor can bring--not all Realtors do.

To your success!

Hi Ben-

Congratulations on getting started and great question.

Personally, I think it is better to cut your teeth with single-family before scaling with multi-family.

Additionally, I recommend using a property management company to handle the leases and tenant issues even if you rent rooms out in a single-family rental.

The reason for this is they will know local and federal housing laws and keep you out of the weeds and out of trouble.

Additionally, it provides a shied from awkward moments in the house or with a tenant over unpaid rent or difficult behavior. You can act like just another tenant and can call the property manager to deal with it.

Also, your future self with thank you because using a property manager makes owning real estate more passive and that is what you want. I common reason people do not stay in business is the hassle of property management. Pick a solid local property management company and let them help you run your properties well to reduce tenant turnover so you can get on with your life.

This will help you scale your portfolio over time as well.

To Your success! 

Hi Logan-

Great question.

Real estate is the most effective way for the average person to build wealth--that is why I believe in real estate.

I heard someone say recently that real estate is a get rich slow game and you should have an active source of income as you build your property portfolio. I agree with this statement and my active source of income is helping people buy, sell, and invest as an investor friendly Realtor.

To your success!

Hi Mike-

Great question.

No, I do not think direct mail is dead but I prefer door knocking and using door hangers over direct mail as it gets you in front of the sellers.

Consistent action on the same properties and farmed areas will get you the best results.

To your success!

Hi-

All three property management companies I use are smaller but have their own in-house maintenance people.

I would ask on blogs like this for property manager referrals or Facebook groups for investors in your area.

To your success!

Hi Wenlong-

This is a great question.

I have three property managers I work with in Michigan in different areas.

All of them do rehab services and I let them until I find I reason not to which has only happened once and mostly due to the contractor they selected and not workers from the management company.

I like real estate being mostly passive and if I am managing contractors it becomes active very, very quickly.

To your success!

Hi JJ-

Great STR questions.

In Ann Arbor, MI for example, you need a STR license for each unit if a multiunit property.

Yes, a multiunit property can be owner occupied but typically the lower taxes for an owner occupied property is the percentage of the property lived in by the owner. The percent of the property not lived in by the owner or other units would be taxed at the higher non-owner occupied rate.

To Your Success!