All Forum Posts by: Keri Middaugh

Can you elaborate on that? Is Robinhood a REIT platform?

Thanks for this input, everybody. I am looking for a passive way to invest a smallish amount of money (less than $20K) that is sitting in a self-directed IRA, waiting to be directed by myself to something useful. Ideally, I would lend it to someone locally, but in the meantime, I'm learning these other options. So, if Lending Club is not your favorite, what is?

Have you participated as a lender with Lending Club?  I'm eager to hear about how you chose the loan to invest in, how the returns were, quality of customer service, and any other aspect you'd like to share.

Thanks! 

The market is very hot right now and sellers are greedy (in my opinion).  Down the road, will you be able to get $1540 a month in rent for your condo?  That would meet the 1% rule and likely be a break-even deal.  Or you could hope the market keeps rising and sell for more that $154K in a year.  Another option is to rent something yourself immediately and wait a year or so to buy.  Canton can be pricey, because many neighborhoods are new and the schools are good.  Have you considered looking at some of the nearby town that might be more affordable? Belleville is not too far, also Garden City and Ypsilanti.

Could you househack to make the place more affordable and perhaps soften the blow of a high-ish sales price?

Best wishes,

Keri, in nearby Ypsilanti

There is also the Metro Detroit Real Estate Investors fb group.  They are pretty active.

Hi Estelle,  I live in Ypsi and can tell you about it.  For starters, Ypsi is wonderful.  We have a university, quality libraries, a variety of types of neighborhoods, a river, nice parks, an artist community, urban gardens.  We also have struggling schools, a bit of poverty, and a distinction between the haves and have-nots.  The taxes in the city are very high, while township taxes are low.  Are you able to come to Ypsilanti and see for yourself?

Experienced investors do not recommend inherited tenants, but sometimes that what comes your way.  I do not have any experience with this myself, but have considered the possibility. 

Best wishes,

Keri

I can recommend agent Todd Chartier of Moving the Mitten brokerage.  Investor friendly.

interior pics?

Where in Michigan?  You can network to get referrals of quality property management  companies.  It will be worth the money!

I'm about to purchase this book and, in the spirit of being frugal, will probably purchase the ebook.  Am I still eligible for the bonus material?  Thanks!