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All Forum Posts by: Annette Hibbler

Annette Hibbler has started 91 posts and replied 576 times.

Post: Dotloop vs Docusign. Which is best for virtual contracts?

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

I initially started out with docu-sign through our MLS. Then our brokerage went paperless and has switched to DotLoop. DotLoop has a longer learning curve but I think I've got the basics down now. DotLoop will autofill sections and you can also set up folders with all of your buyer and seller docs in one place, similar to docu-sign. Once I've inputted all of the contacts associated with the transaction, email them documents is quick and easy. I keep all docs in the loop including any addendums, inspection reports, and settlement docs in the loop. With a click, I can easily submit them to my broker. Hope this helps.

Post: Property Manager Suggestion for Detroit Northern Suburbs

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

@Mark Harrison  @Travis Biziorek 

You guys could try to give this company a call and see if they cover that area: 

JMZ Managment

40020 Twelve Mile Rd

Novi MI 48377

Post: Looking for a mortgage broker/private money in Michigan

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

I'm a licensed Realtor and investor residing in Livingston Cty and work with investors as well. We've used a number of lenders for our Michigan rentals and my husband is now a broker for one of them. 

What sort of value are you looking at? The property has to be valued at a minimum of $75K. They do up to 4 units and the rate is based on credit but they don't look at your finances or require any bank or tax details. They focused exclusively on the value of the property. Let me know if you'd like more info.

Post: Private lenders for Michigan properties ?

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

I'm a licensed Realtor and investor residing in Livingston Cty and work with investors as well. We've used a number of lenders for our Michigan rentals and my husband is now a broker for one of them. What sort of value are you looking at? The property has to be valued at a minimum of $75K. They do up to 4 units and the rate is based on credit but they don't look at your finances or require any bank or tax details. They focused exclusively on the value of the property.  Let me know if you'd like more info.

Post: Need Real Estate Agent Recommendation in South East Michigan

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

@Danny Akkerman I work in this area and can assist you. Check out my BP profile for more information. Feel free to reach out to me via PM.  I also may be able to save you significant monies with financing. I know you said you already have a Pre-Approval. We can definitely work with that but I would be remiss if I didn't inform you of another program that will help you avoid thousands in lender fees. Let me know if you're interested in more information. 

Post: Considering becoming a buyers agent - rebates?

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Don't kid yourself. There are recurring costs and requirements to holding a real estate license. If you're plan is only to help others once in a while, you'll quickly start to realize that between membership dues (NAR, MLS and local Real Estate membership dues) not to mention monthly office desk fees (regardless of whether or not you work from home) and yearly fees associated with yearly 6 hours of required Continuing Education courses will keep you in the red and start to bleed you dry if you don't have enough business to cover these recurring costs.

I would suggest you first do some research and determine how much you will need to earn to cover these recurring costs over a 12 month period. The occassional 1-2 deals may not be enough depending on the average sale price and your commission structure. These expenses  & brokerage rules may put a kink in your plan to provide rebates. Also, note that not all brokers are the same. You'd probably have less expenses with a boutique broker.

Post: [Calc Review] Help me analyze this deal

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Hard to give input without all the facts. What are the numbers?

Post: What Could Go Wrong? Purchasing Without a Realtor.

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Really? Why not use a Realtor? Look for a realtor who is also an investor with more than one income property. Then hold on to them. They are a great source of information and experience. Can help steer you clear of pitfalls, make sure your interests are protected. Best of all THEY ARE FREE TO BUYERS. 

Don't ignore this fantastic resource available to you.  When looking to purchase an investment property, why wouldn't you want the input of a professional in that industry? After all, we hire lawyers when we need legal advice, doctors for physical issues and accountants for taxes. Would you attempt to fly a plane after reading a book about it?

Post: Best Place to Put Money Short Term (2-3 years)

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Have you considered trust deeds? Typically, they pay 8-10$ interest for a period of 6 months to a year. We use Ignite Funding but I think they have a minimum of $10K. Suggest you explore some other companies and ask what their minimum investment is. 

Explore what other banks interest rates are. Don't just assume they are all the same.

Post: Single Family or Apartments? First investment suggestions please

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

@Bridget Scileppi     @CJ Wine  There are pros and cons to both. It depends on your long term goals. How long do you plan on holding on to the property? Short term (5+ years) then single family units are the way to go. For longer term plans, MF and/or apartment buildings work well. I own single family and MF units here in Michigan and help investors shop for and purchase everything from single family to commercial apartment buildings. I purchased my first Michigan property while living in NJ. Having a contact you can trust is critical to your success.

I wrote a blog about a client of mine, a first-time investor who is purchasing her first MF unit in Westland, MI. I give lots of number breakdowns. I believe you would find this quite interesting, so PM me for the link. There are lots of great areas in Michigan where an investor can purchase income property under $125K.  There was a duplex in Westland that listed and sold the same day for $79K. One side had a long-term tenant and the property was in very good condition. Completely turnkey, sold in a matter of hours. So investors are grabbing these great properties and new ones come up all the time. In fact, now is the best time before the Spring market kicks in. Feel free to PM me for more info.