All Forum Posts by: Richard Ball

Congrats!!!

It depends on what you are looking for. If you are looking for a cheap, good area, I would say look on the West side. If you are looking for quick appreciation but a higher price I would say look at downtown / midtown. 

As long as they do a good job and without photos of the work area I would say it seems fair. I am concerned about the exterior cleaning or painting. It is to cold to paint and power washing may be difficult. How much are they going to reduce the price should they not be able to accomplish that task?

@Aaron Fox other then what @Joshua B. said you also have to disclose you are a real estate agent when you are in the deal. So if you are buying disclose on the PA and if you are selling disclose in the MLS. There is some rules around HUD as well but your broker will explain that to you.

@George P. Thank you! Just trying to push my boundaries and anytime I can get a second opinion on it, it is much appreciated. Thanks again!

@George P. Sorry about that the address didn't copy and paste. Is 4530 BIDDLE Street, Wayne 48184-2164 a better deal?

@George P. knowing that area does 27649 Eton St, Westland, MI 48186 seem like a better neighborhood with better rental and ARV comps? I realize it is owner occupy only at the moment but perhaps you plan on moving into it while you fix it?

There is a local REIA, here is the website: http://www.porthuronarealandlordassoc.com/ we meet the second Thursday of every month and it is very informative. In order to invest in Port Huron you have to know what areas you can invest in, for example anything north of the Blue Water Bridge is pretty much off limits (there are some small pockets you can invest in) because of local ordinances. Port Huron also requires a rental certificate which comes with city inspections. After you get pass all the bureaucracy I would say it is a pretty good place to own rentals. Home prices are relatively low and rents are good. Even with purchasing off the MLS a 2% deal is not unheard of. I personally stick to the cities outside of Port Huron like Fort Gratiot, Kimball, etc... because you tend to get a little better quality of person plus home prices appreciate faster and rents tend to be slightly higher. The trade off of course is less inventory with a little higher purchase price. All in all you have to find out what works best for you but I there are a lot of helpful people in the area so if you ever need anything don't hesitate to ask. 

@Mike Spica You have lots of investors up here :D

I currently have 25% of my homes with Section 8 tenants.