All Forum Posts by: Theresa Randall

The SEC is the major entity preventing average people from investing in crowdfunding sites. However, there is potential for this to change in the near future. Check out the "Jobs Act". I am eagerly waiting to participate myself. http://www.forbes.com/sites/chancebarnett/2015/03/26/infographic-sec-democratizes-equity-crowdfunding-with-jobs-act-title-iv/

Hi Diana, flying into DTW is as safe as any airport. Another Airport to check out is FNT, which is north of Detroit but very small and quaint. I'm glad you are planning a trip here before making an investment. Ann Arbor and Sterling Heights should be completely fine, just take normal safety precautions. The same goes for Warren, but the city is very large and does border Detroit. I am sure if you are visiting properties with a Realtor who knows the area you will be fine. I would recommend checking out Royal Oak too. It has a nice downtown area and will give you a good vibe of the burbs. Grand Rapids is on the other side of the state, it's a great city but I can't speak to the neighborhoods.

Hi Doug, Where in the Detroit area are you planning on investing? The property taxes are probably higher in comparison to other markets. But, many of the Detroit suburbs have excellent schools, libraries, and community centers. The basic property taxes are split into two payments, one in the summer and one in the winter. Sewer is included on the water bill, which most cities bill quarterly. I believe trash is included in the property taxes. Gas is usually used for HV and the water heater, gas prices peak around Dec-Feb for the winter and are very low in the summer months. I am assuming you would have the tenant cover the water/sewer, gas and electric. I am still in the learning stages myself, so I can't offer any advice on the C of A. Hope this helps. I would definitely recommend making a trip to Michigan, we have beautiful weather in the Spring, Summer and Fall. Good luck on finding the right property.

I would roll-over the 17k to your new employer's 401k plan. Then take out a loan from the new 401k plan. This way, you will be paying yourself back and should avoid tax penalties for withdrawing early. Definitely do some more research and good luck!