All Forum Posts by: Jon W.

Welcome Lloyd. Nice to see more Michiganders in the BP community. Good luck with the expansion.

Welcome to BP, Brad. Keep up the good work.

Welcome to BP. It looks like you are on your way. This site is great for learning and networking.

Where are these properties located? I am guessing Detroit, Pontiac, or Flint.

Thanks, Joe!

2% is attainable but you usually have to compromise on location and/or tenant. The better locations that attract better tenants will usually cost more and net you a lower return. The cheaper houses in poorer neighborhoods might cost less and show a better return on paper but usually are more problematic to manage. You need to find the spot in the middle where you are comfortable investing. I prefer to lower my return and invest in easier to manage properties in better areas that might also have more appreciation upside.

Eric,
Have you thought about buying a duplex? You could live in one side and rent the other. That way you can start investing and get into a home for yourself at the same time. If I could do it again that is an option I would seriously consider. Berkley is a great area. Clawson, RO, Madison Heights, and Sterling Heights are all great too and affordable. Good luck.

Jon

Brian,
You can find everything you are looking for here. Good luck.

Tyrone,
Welcome to the world of Biggerpockets. The information on this site is amazing. REIA of Oakland is a good one.

George,
First State Bank in Macomb does portfolio lending too.