All Forum Posts by: Casey Tyler

Hi Nicholas,

Thank you for your reply

That is one of the things that I do not like about auctions. However, I was a contractor for many years so as long as I get a great price I could do the work myself if it came to that. Not Ideal but is an option. 

Is a list broker different than an agent? Or is this a list like you would get for a mail campaign? 

Hello All,

I am having a hard time getting my first deal. The local market is very competitive. Deals are sold almost immediately. 

To widen my net, I would like to look at some auctions. This is a new avenue for me and would like some advice. Is it a good idea to talk to a real estate attorney first. If so can anyone recommend one in southeast Michigan? 

Thanks for your help. 

Good Morning all,

I have done a lot of calling and research and I think I know the answer but I figured  I would ask. 

Is there a HELOC type loan that will increase the amount you can barrow as you pay down your principal. So as I make extra payments on the principal I pay off the mortgage faster and increase the amount of cash that I could get if I needed it quickly.

This would be in contrast to what my research is saying. The only banks that I have talked to so far will only increase the available credit if you go through a Refinance process on the HELOC.

I hope I am explaining this correctly. 

Thank @Wayne Brooks

That was exactly what I was looking for.

Hi Patrice,

I am more interested in things like:

• How to make sure the property is free of liens. 
• If a property is occupied, how do you get control of the property
• How to read a title report
• How to read a disclosure report
• Should you buy title insurance.
• At what point do you buy title insurance

These are only the things i know to ask. I am sure there us plenty I don't know. 

Sorry  I was not very clear.

Thank you so much for your reply!

Good morning BP peeps,

I am looking for my first property after the first of the year. The market I am in is pretty heated so I want to look at all options for acquiring deals. Once option is auctions such as auction.com. My problem is auctions seem to have different rules for different states so it is difficult to find information. Can anyone point me in the right direction to acquire information on the auction process in Michigan and the best way to protect myself? 

I do have a residence but there is not enough there. Friends and family is not an option either. I plan on purchase repairing and then put financing on the property and using for rentals. I am a former contractor so I can do the work (if required) myself.  Just would like to be able to have the option of having cash to bid with. There are other option than actions but I didn't want to limit myself. A private money lender will be tough because I am looking for my first property.  

Thank you everyone for you input. I will have to figure something out. 

I am just starting out as an investor and was hoping to get some advice from the more experienced investors. In my area prices are going crazy high so I want to look into all avenues for finding inventory. One option is auctions. The problem is I only have 20000 in cash. Let’s say I find a deal at 50,000 at auction. What is the best way to bridge the gap? Hard money probably won’t work because they need an analysis and it takes time to get the money. Can anyone recommend a line of credit that would work for this situation? My credit score is very high (800+).

Even if I find a rehab project on the MLS it is tough to get a mortgage with a small amount. How do you get cash to buy a property until you can put financing on a property?

Thanks James!

Hello All,

I am in the process of fixing up my current residence to get it rented out. The plan is to purchase another home and that that one out as well in a year or two. I am not only interested in renting but also managing rental properties. I am very good at business management and I also had my residential builders license up until 2008. 

Is there a market in Southeast Michigan for additional property managers and investors. :-) 

I am currently working as a web developer an love doing and will continue to do so.