All Forum Posts by: Annette Hibbler
Annette Hibbler has started 91 posts and replied 576 times.
Post: Is Solid Hardwood in Kitchen a bad idea?

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
Nowadays, they make really good wood flooring that is highly resistant to water. Hardwood in the kitchen looks amazing. You don't have to go with the expensive kind. Popular stains are cherry or medium brown color. Don't go too dark because it will show up every footprint, dust, etc. I know this from experience. Maple is losing popularity. Good luck!
Post: What Do I do If I Inherit a large sum?

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
You're right, stock, bonds and mutual funds are too unreliable. Over the course of history, the very best and solid investments are real estate. You could easily use small portions (use OPM such as loans and only have to cover the down payment) at a time to secure a variety of real estate investments from buy & holds, fix & flips and small to large scale MF units. We all remember the crash in 2007 that lasted a couple years. Unlike many other types of investments, home prices are back up nationally 5-8% depending on the state. Real estate is reliable because it always recovers and a historical trend that gains in value over time. That's just MHO.
Post: Flip in Michigan has a handicap ramp - keep or remove?

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
The property will have greater appeal to buyers if you remove the ramp from the front of the house. If budget permits, consider installing a small roof cover over the front door. The front lawn looks rather bare and in need of some landscaping for curb appeal.
Post: First land deal advice please

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
Just saw your psot. Yes on the warranty deed! Quick claim gives you no guarantees. Talk to tax assessors office and make sure you can still purchase the property legally. I don't know why no one else has responded to your post earlier. Good luck.
Post: What do you spend your money on as real estate agent?

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
I typically spend up to 20% of my commissions on lead generation online and off.
Post: Purchase and Sell Agreement Question

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
Yes, get help from a title company! It's well worth the expense when you think of everything that could go wrong with the property that you are not currently aware of.
Post: How am I able to determine what is owed on a property?

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
So long as the owner(s) is still paying the mortgage, they should be able to tell you. Public records will show you when the mortgage(s) was taken and how much.
Post: HELP! seeking long term mortgage solutions for investment houses

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
That's possible. We've used two lenders and I believe one of them offers rates from 5.975% up to 8.425% depending on credit score and the debt service ratio (Net Operating Income/Debt). Can also do a 30 year and can do portfolios. The minimum value per property is usually $75k and loans can be from 60% to 80% of the value. Let me know if you'd like more info.
Post: I bought a property that only had a quick claim deed help!!!

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
A title company will help you. For the record, I never purchase with a quick claim as it often places buyer at risk, offering little assurances. Good luck!
Post: What every “investor-friendly” agent needs to know

- Real Estate Consultant
- Brighton, MI
- Posts 607
- Votes 251
Investors want numbers! What frustrates me as a Realtor and an investor is when agents who knowingly are listing properties that are largely targeting investors, don't include any of the running costs in the listing descriptions nor do they provide financials in supplementary info in the MLS needed to calculate ROI. If the property is tenanted, provide the rent, lease expiration date and what utilities are paid by the tenant. That's a big help. Also, provide some comps with the financials. If you don't want to make that info public, then put in the MLS where it can be retrieved by other agents representing their investors. Hope you find this helpful.