Metro Detroit Realtors and Investors
9 Replies
EDDIE JONES
SFR Investor from Lathrup Village, Michigan
posted about 2 months ago
I'm looking for Realtors and Investors to network with and to share ideas and to keep everyone motivated. I'm interested in finding deals from pre foreclosure and probate in the metro detroit area.
Joe Villeneuve
from Plymouth, MI
replied about 2 months ago
Ok. You peaked my interest.
EDDIE JONES
SFR Investor from Lathrup Village, Michigan
replied about 2 months ago
@Joe Villeneuve Hello sounds like you would be a great person to connect with. Which Reia are you with and when do you think you are going to start back with the in person meetings?
Justin Beavers
Rental Property Investor from Detroit, MI
replied about 2 months ago
@EDDIE JONES pm me
Joe Villeneuve
from Plymouth, MI
replied about 2 months ago
Originally posted by @EDDIE JONES :@Joe Villeneuve Hello sounds like you would be a great person to connect with. Which Reia are you with and when do you think you are going to start back with the in person meetings?
Not affiliated with any REIC's...yet. Haven't found one I like yet. |Haven't really been looking that hard though.
In person meetings?
Paul S.
replied about 2 months ago
The probate one is something that has always interested me... there are thousands of properties every year that go to tax sale because of no will and the family doesn't have 2 nickels to rub together to go through probate.
Lisa Gould
Investor from Southeast Michigan
replied about 2 months ago
@EDDIE JONES - I am interested in what you are suggesting - could you please include me also?
Lisa Gould
Investor from Southeast Michigan
replied about 2 months ago
@EDDIE JONES - I am interested in what you are suggesting - could you please include me also?
Mark Pedroza
Real Estate Agent from Roseville CA ~ San Francisco, CA
replied about 2 months ago
Originally posted by @Paul S. :The probate one is something that has always interested me... there are thousands of properties every year that go to tax sale because of no will and the family doesn't have 2 nickels to rub together to go through probate.
Just because there was no Last Will of Testament doesn't have to do with property taxes being paid. Those are two different entities.
If the proposed PR (Personal Representative) doesn't have the fee's to start the probate process perhaps you, as an investor can pay out of your pocket to assist the estate.
If you do, you'll now be considered as a creditor and when probate has started you'll file a as a creditor to get your money back in addition to purchasing the property.
Paul S.
replied about 2 months ago
Originally posted by @Mark Pedroza :Originally posted by @Paul S.:The probate one is something that has always interested me... there are thousands of properties every year that go to tax sale because of no will and the family doesn't have 2 nickels to rub together to go through probate.
Just because there was no Last Will of Testament doesn't have to do with property taxes being paid. Those are two different entities.
If the proposed PR (Personal Representative) doesn't have the fee's to start the probate process perhaps you, as an investor can pay out of your pocket to assist the estate.
If you do, you'll now be considered as a creditor and when probate has started you'll file a as a creditor to get your money back in addition to purchasing the property.
My point was typically their are many heirs and no funds to go through probate - noone pays the taxes and the property eventually gets foreclosed due to taxes. I have no interest in helping people fund probate and becoming a creditor (no money in that for me). Agreeing to a price THEN funding probate was the option I was exploring. The hard part is most of the time there are 63 low IQ heirs you have to go through to establish a price - like herding cats.