All Forum Posts by: M Lindgren

If you want to buy the property and give half to me you can do all the business you want here in Detroit and I will handle the landlord side.

You're my kind of friend-I don't even need the place to stay to get me off the street.

The property was in near move in condition. Goor roof, refinished hardwood floor on first floor, kitchen remodeled in last 5 yrs., the only thing it really needed was carpeting upstairs-not a big deal. It had been "winterized" so no telling how furnace functions or hot water heater.

My real estate investing thus far has consisted of buying oceanfront condos and renting them week to week. The play has been to break even on the cash flow and hope for appreciation. So far I have done alright-would have done phenominal had I sold 2 yrs ago but I will ride out the current lull.

I am looking to buy a rental (buy and hold) property. It is a single family house and will be auctioned off on Wednesday of this week. My thoughts are to bid up to $35K. Ideally I'll put a minimum amount down but have the ability to buy it outright. The house would rent for $800-$850/mo.

Is this a decent deal? It is in Michigan so I might consider going section 8 as it is common here for people to lose their jobs and squat in rental houses. Section 8 would help assure the bills are covered.