All Forum Posts by: Jon W.

Welcome @Bryan Whitfield this is a great place to learn and meet people. I have not made it to one of the BP meetups but I hope to soon.

8%-10%

The property management expense will be on top of all the others. 8-10 monthly with additional expenses to turn over a property.

@Darrol Phillips Welcome to BP. There is a ton of information here. Dig in a learn but it is great that your son can lead the way.

@Ashleigh Rogers welcome to the BP community. I am a fellow Spartan and also invest in the area. College rentals can be great. Parent co-signers are a must but more importantly is your relationship with the tenants. You are often one of the first authority figures they will deal with after leaving home. Your rental is also usually one of the first places they are in charge of taking care of. If you are supportive and keep communication open they seem to take care of things. If not, they can go into "use" mode and you could be in for a surprise when you turn over the property. Good luck.

Scott, Welcome to BP. There is a lot to learn here.

@Paul Jamgotch I am a buy side trader in the Detroit area. The profession is not as stable as it used to be and we have been close to being in the same situation as I suspect your firm is in. Unfortunately there are only a handful of trading positions in all of Michigan. If you lose your job you almost have to change careers completely. Best of luck to you. Stick with it and I am sure you will succeed.

@Theodore B. and @Joe Delia , thanks for the info. I will call around and see who I can get in to see.

Jon

Thanks @Aaron Yates , I will give him a call.

Detroit area investors...do you have a good accountant you would recommend? I live in Sterling Heights so I am looking for an accountant in Oakland or Macomb county. Thanks.