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All Forum Posts by: Jeffrey Edwards

Jeffrey Edwards has started 2 posts and replied 143 times.

Post: Townhome/condo rental properties

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

I would triple check with the association just to make sure rentals are allowed.  

HOA dues eat into that cashflow so watch out for that but on the flip side, a lot of the capex is covered under those costs. Not a total wash in my opinion but definitely covers some of the capex costs.

Post: How to find an out of state contractor?

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

In my opinion, this is the job of the property manager.  If you don't trust them for some reason to handle these things for you (contractors, oversight, questions, etc.) then it may be a sign that you need a new PM. 

Post: Some one please give me a hand

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

It's a strategy (I'm not going to say "good") for short term projects like flips.  Be very careful if you are just starting out in real estate with hard money.  I would possibly seek a mentor be jumping in head first! 

Post: Foreclosures and where to find them

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

All locations have different ways of publishing this information.  For example, my County has a legal newspaper that publishes this information.  

My suggestions would to contact the county register of deeds office and just ask them what their procedure is and they should be able to tell you. 

Post: Rentometer vs. Zillow

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

If you have a property manager, I would reach out to them first and see what their thoughts are and possibly a local real estate agent who has rental experience.  Websites are great but I feel like humans can be very helpful as well.  

Post: Maximizing Deductions on Rental Properties

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

It is always a great thing to have a Rockstar CPA on your team to help maximize your deductions every year.  

Post: Wholesaling investor book

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

Not a "wholesaling" book per se but I'd recommend Finding and Funding Great Deals by Anson Young in the BP book store.  

Post: FIRST RENTAL PROPERTY OWNED!

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

Congratulations! 

Post: Our first Investment Property - Sunny Daze Cottage

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

Congratulations! 

Post: Leaking ceiling on Duplex on tenant side

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

When you purchased the home, were you provided any sort of warranty?  It is common with most new construction in my area.  What is above the kitchen?