All Forum Posts by: Michael Saberniak

Okay, I do not read through all 20 pages of comments, buy why would anyone use this service with the high fees when you could apply for business cards on your own? US Bank has given me some pretty nice credit limits with only 3% transaction fee to get the 0% for 18 months. I would think in under an hour of study you could figure out what cards to apply for and get some nice signup bonuses.

Lesley, the article you just posted states the following:

 "Note that there is no limitation preventing the Fund from borrowing cash in order to purchase or improve the property."

 Where is the requirement that the property must be purchased for cash? I have done a munch of reading on this and have not seen this. 

The Munising area has been really busy and growing with all the traffic from Pictured Rocks Nat. Lakeshore.  There are a couple good managers there too that I could recommend.  Marquette should be good as well, a little more diverse as far as attractions go. Marquette is a bit more expensive to get into, but did not really get hurt at all in the 2008 down turn. 

Seems like that would be hard to break even with that deal.  This is on the upper end of the price spectrum for Marquette too.  Most of the duplexes I see listed are in the 90-140 range. 

Hi Michele, 

I buy in some parts of Escanaba. Are these listed? Could you send me more info?

I have been scratching my head for a couple years on the idea of development projects in Marquette. Rents are high enough it seems like it would cash flow if you can keep acquisition and building costs in check. 

Hello there fellow Yooper.

So what city is this deal in? Iron Mountain? or Marquette? If anywhere outside of Marquette it seams way over priced, you should be at about $30000 per door after any reno on 2 bed units. If Marquette you can raise rents to $800 plus......

Thanks for the information! I am really surprised that you use a lockbox and let potential tenants in that way. I would be afraid of squatters! I am assuming this has not been an issue for you?