All Forum Posts by: Darrell Kirby
Darrell Kirby has started 11 posts and replied 39 times.
Post: How to Apply for Section 8 in Michigan - Landlord
- Ypsilanti, MI
- Posts 39
- Votes 10
Quote from @Arsen Atanasovski:
You need to reach out to the local housing committees they will put you on their database and feed your information to their case workers.
Post: How to Apply for Section 8 in Michigan - Landlord
- Ypsilanti, MI
- Posts 39
- Votes 10
Quote from @Tiffany Francis:
Hi @Darrell Kirby, try to reach out to local housing authority that works with section 8 in your area. The list may be on Michigan state Housing Development Authority website. Give them a call as well and see if you could be routed to the right place.
Hope all goes well!
Post: How to Apply for Section 8 in Michigan - Landlord
- Ypsilanti, MI
- Posts 39
- Votes 10
Quote from @Arsen Atanasovski:
You need to reach out to the local housing committees they will put you on their database and feed your information to their case workers.
Post: How to Apply for Section 8 in Michigan - Landlord
- Ypsilanti, MI
- Posts 39
- Votes 10
How do I apply for section 8 in Michigan? I have been trying to research and have left messages and sent emails with no response to the HUD link I was referred to. Is there a Landlord application to fill out?
Thank you in advance.
Post: How long to retain an Agent
- Ypsilanti, MI
- Posts 39
- Votes 10
Quote from @Mitch Messer:
Quote from @Darrell Kirby:
When is a good time to switch agents?
Having a rental property sit unsold for over six months is what I would call catastrophic, particularly if it's vacant!
However, before you switch agents, I recommend you gather up a bit more information.
You should request recent comparable sales data that will help determine whether the problem is a "slow market" or an incompetent and ineffective agent.
Has anything sold near the subject property in the last 190 days? If so, where, for how much, and by whom?
If not, the problem may be your market.
Also, did you ever get any interested buyers? How many? What did they say? Why didn't they buy? What follow-up was done?
You need more data.
She has told me that the market is slow. However, 190 days seems extreme. I am having an analysis done of the area.
Post: How long to retain an Agent
- Ypsilanti, MI
- Posts 39
- Votes 10
Quote from @Aristotle Kumpis:
This depends on what your contract says. Most agents have you sign an exclusive listing agreement with an end date. If your end date is up, maybe looking for a new agent could make sense. Are they communicating with you all the time with updates etc?
They are communicating. Its just really slow with offers. She told me that I can cancel at any time.
Post: How long to retain an Agent
- Ypsilanti, MI
- Posts 39
- Votes 10
When is a good time to switch agents?
Property is located in Ecorse Michigan. Eager to sell.
Listing and pictures:
https://www.zillow.com/homedetails/4524-2nd-St-Ecorse-MI-482...
Units are empty.
Two units, two bedroom each. Both units were completely remodeled
(kitchen, bath, doors, floors). Fridge, stove, washer and dryer are
included in each unit. Double paned vinyl windows. Newer furnace and
water tank. Units were being rented for $1, 150.per month each
unit. Separate gas and electric. Both units are up to city code.
Post: Selling a Duplex with 2 Buyers interested
- Ypsilanti, MI
- Posts 39
- Votes 10
Quote from @Drew Sygit:
@Darrell Kirby unless you know what you are doing, letting someone buy your rental, "Subject To" (the existing mortgage) is not advised.
Typically, they will want you to transfer the deed to them, but keep the mortgage in your name. What do you do if they stop paying on your mortgage?
You could consider a Land Contract, which retains an ownership interest on your part. But if they stop paying, you stll have to do an abbreviated foreclosure to get the property back.
May want to do Lease-Option, where they lease the property for X years, with the Option to purchase at a contractually agreed upon price. You typically charge them an Option Fee (the $20k) to lock in purchase terms today.
THIS IS NOT LEGAL ADVICE.
Highly recommend discussing with an attorney if you decide to pursue any of the above.
Thank you.
Post: Selling a Duplex with 2 Buyers interested
- Ypsilanti, MI
- Posts 39
- Votes 10
Thank you for the feedback. You are totally correct Bill. I did read that if you owned less than a year it is income. Thank you for correcting that. I do have a Realtor.