All Forum Posts by: Daniel Klebba

What is an EMD?

Have any of you used Auction.com? Most of the properties say "Cash Only" and the bids usually start at $10k or so. I have noticed in the notes many of the properties say there is a reserve but when they say Cash Only does that mean the website doesn't finance? Meaning if I obtain my financing/pre-approval letter in advance will that work? Any help is greatly appreciated. Dan

All, I am looking for a few good recommendations for property management companies in Lansing MI. Can you make any suggestions based on your experience? Any help is greatly appreciated. Dan

Being that this will be my first property outside of my primary residence I just wanted to make sure I set it up correctly and I'd like to mitigate any risk back to my personal family home.

I like the idea of the managing LLC, but I am no lawyer. I'm looking for the best way to start my business with the intention to grow over the course of the next 10 years.

As far as my loan/first investment property goes it will be financed with a conventional loan.  Let me know what you think And I sincerely appreciate all of your advice.

What are the specific advantages of having each rental be under its own LLC?

All, I am about to get started in buy and hold rentals but I am wondering how other investors in Michigan set up their business? Do you need n LLC for each rental? Any help is greatly appreciated. Dan

Joe Villeneuve how long have you lived in Plymouth? I was born and raised there, my parents are still in my childhood home and my wife and our two kids live in South Lyon. It's amazing how much has changed in Plymouth since I was little.

Bill Thompson what ach service do you use? What is the cost and have you had a good experience with it?

It would be great if the portfolio was a living breathing document. Meaning it would be nice to be able to enter which month you are in with your mortgage (Ex: Month 4 of 360) and have the spreadsheet update every month to update your remaining balance owed and any potential changes in equity. I am sure you'd have to put in the loan info to have to make this work but it would be a great way to look at your investments and updated numbers at a glance.

So what other items would you consider in completing your financial analysis? I would assume all of the numbers above, figuring what the break down in rent is by apartment and then get a good feel on how that lines up with the market. Any other ideas?