All Forum Posts by: Jim Wellington
Jim Wellington has started 1 posts and replied 68 times.
Post: Rental Properties, Detroit
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Jayde-
id highly recommend connecting with @Drew Sygit. He ones of the leading property management companies in Metro Detroit. He’s got a ton of experience in Detroit. Investing in Detroit is different than the suburbs so you need someone who knows that area. Having the right company to manage it is critical.
Post: Best way to finance multiple buy-and-hold single family homes
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Hello,
I also own a DSCR lending company, Level Up Capital. I've got programs that go as low as 50k per property provided there is at least two. Happy to further discuss.
Post: As a Real Estate Investor, when is the best time to start an LLC?
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Opening an LLC is generally pretty easy and inexpensive. I would probably just go ahead and do it now.
Post: Personal Loans or LLC
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Hi Kim. I own a DSCR lending company, Level Up Capital. There are advantages to doing the loan to your LLC. One is the loan goes to the LLC and you're the guarantor. This does help provide barriers and negative impacts to your personal DTI ratios. The underwriting process is also more streamlined. We don't require tax returns, pay stubs, or w2s/1099s. That said the rates are generally a bit higher. You'll get a better rate and terms in your personal name. Happy to schedule a call to further discuss. Thanks!
Post: Looking for a Real estate agent in SE Michigan
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Quote from @Kevin Cullen:
Drew Sygit Thank you for your help. I will be in contact with them on Monday.
Thanks @Drew Sygit
Kevin I’d be happy to help I’ve got a ton of experience personally in real estate investing and working with investors as well. Additionally I own another company, Level Up Capital that offers funding for investors on their properties Let’s schedule a call to further discuss. Thanks!
Post: Finding Funding For Deals in Detroit
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Quote from @Drew Sygit:
@Arron Paulino connect with @Jim Wellington
Check out this info also:
You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:
https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse
(BP search feature can be problematic, so we’ve also added links @ our website under View Cities & Neighborhoods We Service)
Doubt you'll find this much info for any other market in the country. So, why would you invest remotely anywhere else?
Please send us any feedback via email, as we do not use the DM feature here.
Also, if you like our response, please don’t be shy about giving us a vote😊
@Arron Paulino I’d be happy to schedule a call to discuss how we can help fund your deals my partner company Level Up Capital providers asset based dscr loans
Post: Looking for Investor-focused real estate agent
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
@Kevin James. Happy to assist. We offer a one stop shop that can find and fund your deals. I’m an experience investor, lender, and agent that can provide a full service experience. We can schedule a call to further discuss.
@Drew Sygit thanks.
Post: Cash Out to scale - self employed issues for mortgage
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Thanks! @Drew Sygit
Kenneth, I’m happy to connect and further discuss.
Post: Out of state investor - Q&A
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Quote from @Todd Swanson:
Dean, I own a rental home in Roseville, MI and will be purchasing several more in that metro area later this year. I live in San Diego. Let's connect.
@Todd Swanson Roseville is attractive market to invest. I own a few rentals in that area and live in Metro Detroit.
Post: Out of state investor - Q&A
- Real Estate Agent
- Saint Clair Shores, MI
- Posts 73
- Votes 51
Hi Dean,
I live in Metro Detroit and invest in this area. Happy to connect and further discuss. Michigan is a great area to invest. We’ve got a solid appreciating base of real estate that also offers good cash flow.
If you are looking for a property manager I’d recommend @Drew Sygit of Logical Property Management.