All Forum Posts by: Chad S.

@Manuel Prado

I'm interested in duplexes in the Saginaw and Midland area's that are pretty much turn key.

Is  there good property management in the area?

I'm interested in looking at  Saginaw Michigan for investment properties, what are the areas and zip codes that I should avoid.

Congrats. I love the creative financing.  Was it hard to get the seller to forgo 6 months of payments ? 

I took a partial withdrawal of $42,000 from my 403B plan five years ago to buy  a forclosure for $50,000 in cash.

The property has been rented to the same tenant for almost five years now and I have collected almost  $50,000 in rent.

Today the property is worth  $135,000 and I took a Heloc on it last year to buy two duplexes.

I didn't mind paying the tax because I would have to pay it eventually anyway,  and the penalty of $4,200 I got back in five months from rent. If i had gotten a mortgage,  it would have cost me maybe  $3,000 anyway. 

I was 45 when I bought the property and I think it was a great dicision considering it helped me get started.

I have a tenant in a property I recently bought and she owes me for July rent.  She told me she will have the rent tomorrow at 7pm, but she told me this before.

She is on a month to month lease and I think I want her out.

Should I just give her the 30 notice to vacate, or should I post the pay or quit notice first? Assuming she doesn't pay tomorrow.

If I just give her the 30 day notice to vacate, she probably wont give me the rent anyway, but I could go to the court and show the proper notice to the judge to grant the eviction. Would this be faster than the pay or quit route

 Thanks.

mine is about 1 hour away, but there pretty much turn key.

I had a water heater go out a few month age and I never went go to the property.

I just called Home Depot  and they came out and installed a new one the next day.

Have a reliable plumber and electrician selected  that can respond and don't worry about it.

@Armando Payano

They paid for the appraisal and there is just a $60 annual fee.

The rate is .85% above prime, so currently 4.35%

My property was paid in full like yours and appraised at $110,000. I got a credit line of $82,500, 75% to value. 

I recently got one on mine from Huntington bank here in Michigan. 

I recently got one from Huntington bank here in Michigan.  Don't know if there in your state.