All Forum Posts by: John Knappmann

I had a SFR in Michigan that I rented to two guys in their early twenties. Paid first month in advance, could not contact them when month two came up. I filed for eviction, but still need to track them down to get the money they still owe. They might be living with their parents again.

Any suggestions on resources I could use to find them? It's not worth spending too much money searching for them, but I want to make an effort. Small claims court so litigation costs will be minimal.

Like Adrian, I am also an attorney who does not practice in Texas, but in Michigan I would suggest the option contract.

I remember thinking the same thing when I first discovered this place.

Barry, I do not know anything about MS, but maybe I can provide some non-local opinions.

First issue you should probably address would be finding a lawyer for your title work. Lawyers usually find certain areas they do work in, and others they don't. Go to an REIA meeting near you and see if you can find out some of the lawyers people at that meeting use. They don't have to be from your town, but they will need to practice real estate in your state. That will be a better use of your time than cold-calling lawyers. Another alternative would be to ask for two referrals from your real estate agent. After you get a name, talk to them at their office as you need to have a comfort level with them. BTW, it is unprofessional to not return calls, but going to their office two or three times a day will not get you better service.

Second, you seem lukewarm on both deals. Don't do a deal just to do a deal. Understand your market and take your time. I appreciate that you had to work hard to save your $5k and would hate for you to go into a deal that you are not loving from the get-go.

Finally, you provided us with a lot of information, but it is hard reading it without breaking it into smaller paragraphs. It is kind of overwhelming the way you have it and that may be why you haven't gotten an answer yet.

Anyways, hope this helps.

I won't pretend to know anything about Waterford (good or bad), but I have heard good things about Madison Heights and that general area for rentals.

I know the area you are talking about, and I would not buy there without a personal inspection of that particular block. Some are good, some are not. You really need boots on the ground.

I personally would not invest in property that is not in my metro area that I could go by on a regular basis, much less in a different country, but I know that there are plenty of people on this blog who have done it successfully. I just know my own comfort level.

Welcome Brad! Keep up the good work! Where are your properties at?

Welcome, Aaron. I agree with the others that it looks like you will be able to help some and be helped by some on here. I think you're right that traveling for your job will make wholesaling more challenging, but I also think it is worth a try. Good luck!

Tereal, they can make signs in plastic that would last, or heavy cardboard. I would think the signs would get removed or taken before they wore out.

Well said, Barima. I would even suggest multiple visits to get a feel of a neighborhood.