Lansing Pre Foreclosure

[Steve Hodgdon]

4101 SEAWAY DRIVE

LANSING

MI

48911

We're hoping to avoid foreclosure, but it's time to put a minimum bid price on this property. Borrower is trying to raise funds to stave of the action. 

What are people's experiences in Lansing? Tough town for inspections and potential college rental market offset each other. What else don't I know? 

Who'd bid on this? What do you think the min bid should be to have it sell?

Guess at retail or rental value?

Thanks!

[Greg Scott]

Last year the Rivershell apartments were for sale and I went to look, so have actually driven this street.

It's not a bad neighborhood for a SF rental.  That said, this location is way too far from campus to be a viable student rental.  

[Emily B.]

Do you know what they owe? Are they trying to avoid mortgage foreclosure or tax foreclosure? From a quick look online I'm guessing taxes, but figured I'd ask. That area is a C/D class area so you'd definitely want to do a drive by. Lansing is very pocketed.

[Alex Corrion]

In rent ready condition I wouldn’t touch it for more than 50k as a rental assuming that has city of Lansing taxes. I agree with the above you really need to know your neighborhoods here.