All Forum Posts by: CJ L.

I know who would've thought? But... of course there has to be some "genius" explanation that only the most brilliant people can understand and everyone else is just too dumb to see it. The next name will be the Global warming/cooling/changing/ staying the same climate crisis.

The cash for keys idea works every time! They'll be just as happy to accept as you are, and be gone in a matter of days. Win-Win

Welcome to BP Missy, there's plenty to learn and read here and always somebody to answer any questions that you may have. Good luck

Tony, you're really only comparing prices for the unit itself wheather it's a 2/1, 2/2, 3/1, ect..Now if there's a complex with a pool, spa, and other amenities then obviously adjustments will have to be made but that would be more oranges to apples. All of the suggestions others have given will all work just fine. Good Luck

Couldn't agree more Jimmy, Merry Christmas everbody!

I looked at the link and it looks like a nice property and depending on the numbers could be a decent deal.Jon is right on this one and gave you advice from the HML's prespective.

The biggest problem with the deal is that you plan on living in the property which pretty much defeats the purpose to almost all of us here. As strictly a flip you might have a good deal depending on the actual comps, rehab costs, ect... but then that means you sell the property to someone else to live in which you don't want because you want the house yourself.

So either do the homework and see if it's a good deal to flip and try to make some money or look around some more for a home for yourself. Good Luck

I think the heater plan is the best option here (besides her either getting the assistance or paying the bill) as the heaters will do exactly what you need them to.

I don't think you should have any elctrical fire issuses or anything like that as long as you use common sense in setting them up, and will keep your property from the pipes freezing. I think the bigger issue is going to be whether or not she ends up getting the gas turned back on or just blows it off.

Hal, I don't think that I've ever seen a property priced under 50k that needed only 3k worth of repairs, and those are SFR so it seems alot less likely that between 2 units your rehab costs would basically be $1,500 per unit? I don't even think that you could get new paint and carpet installed for under that which basically would be doing the bare minimum.

There's no way that those rehab numbers are correct but if you've already made up your mind then at the least go take a trip and see the property and repairs needed with your own eyes so that you can make your decision from there and not from numbers given to you. And how does a property that costs $15,000 have property taxes of $3,000 a year?! Thats crazy. Good Luck.

Hal, you've gotten alot of great advice and all that I would add to it is that if you do decide to buy in Detroit make sure that you take Jon's advice and either get in the car or on a plane and make sure that you personally see the property yourself before making your decision. And as Kevin said above alot of the cheapest properties are cheap for a reason.

How much is owed in order to get the gas turned back on? I like Marc's idea of pushing her to go and see if she'll be able to get the assistance.(like before Friday)

The only problem with the payment plan idea is that the gas company shut the gas off because she WASN'T making the payments. So depending on the amount owed you'll have to decide if it's worth you taking the chance.