All Forum Posts by: Keri Middaugh

I can recommend Joe Randall with MB Financial in Ann Arbor.  Investor friendly, easy to work with, nice guy.

Hello and welcome!  I'm also from Ypsilanti and always looking to connect with other local investors. 

Househacking is the best idea! I wish I had done this before I settled down. What area are you looking to buy? I'm in the Ypsi/A2 market and can keep an eye out for you. It's also a good idea to network face to face with other investors. I hear there is a great REI in Troy :)

Best wishes,

Keri

What neighborhood?  I grew up in Belleville :)  Perhaps I could drive by and give you an idea.  Have you done rehabs before?  Allow for a large fudge factor for unexpected costs (as well as quiet costs such as insurance, utilities, etc).  Good luck!

following and pondering....

So, @Joe Villeneuve, when an owner goes to re-fi a low value property, as in Scenario #2, what does the solution look like? One (or a few) investors give their funds to the owner (acting like they are refinancing the deal) in exchange for a %age of the ownership (i.e. the cashflow and future equity)? Are there terms for repayment, or just a % of the ownership?  Still getting my head around this option.  I will be in this re-fi position shortly :)

Thank you!  And hope that your lengthy post means all is well for you :)

Detroit always deserves a second look. There are real people here who need quality places to live. There is some amazing history, culture, and architecture here. If you are just trying to "buy up some cheaper properties," then perhaps Detroit is not a great fit for you.

I suggest punctuation and a property management company.  You could join a facebook page that is specific to real estate investing in that city, and then ask who people use.  Call them and interview them.  Ask for referrals and call them too.   Best wishes, Keri

HI Tony,  I am in Ypsi too, and finding the same challenges.  The key is to finding off-market properties, which is hard to do.  You can connect with local wholesalers and have them send you deals.  You can Drive for Dollars and approach owners yourself.  This area is pretty competitive and prices reflect that.  Best wishes,

Keri

And bring muffins.