All Forum Posts by: Jon W.

The Redemption Period starts day of Sheriff Sale – Six (6) months is most common. If the amount claimed to be due on the mortgage at the date of foreclosure is less than 2/3 of the original indebtedness, the redemption period is 12 months.

http://www.michigan.gov/mshda/0,4641,7-141-45866-1...

I don't know the details about someone striking a deal with a homeowner in redemption but I believe it is possible too. 

@Andrew Halbert I am not affiliated in any way.  Just happy to promote a good service that is hard to find.  I have only used them for a year (and currently manage 3 rentals) or so but talked to property managers for about a year before that to figure out who to use.  I manage my own property and wanted to start moving some over so I am very particular on how things handled and liked what castle was doing.

You will not find other property managers at the REI meetings but castle is always there talking with investors and marketing. They are very transparent and available from my experience. They have been growing fast and I have actually seen other property managers in the area start to adopt their pricing model.

I recommend listening to one of the Renegade Detroit Investor podcasts that Jeremy Burgess puts out.  He has interviewed Castle two or three times.  Listen to those podcasts and you will learn everything you want to know about them.  

https://itunes.apple.com/us/podcast/renegade-detroit-investors/id1056779863?mt=2

@Saul L. I bought a house via the county auction that I found had a water bill of ~$1700. But since it was an auction purchase it was wiped out. There must be a lot of fees and extra charges to get that high. If the house is already sold and closed I would think you would be fine. 

Castle  Entercastle.com

They have quickly pulled away from the pack.  I don't know anyone who has had a bad experience.  They are that good.

@Edward Oliver if you currently own the property you should be able to just secure it.  Is the land bank offering that option for the property?  If you secure it WELL and keep the lawn clear you should be able to sit on it.  

Castle.  Entercastle.com

I use them. They are great. Especially for out of state investors. 

@Andrew Abbott If it is a good deal in a good area and will be attractive to tenants you should buy it.  Yes, there could be a downturn but if you buy right it shouldn't matter that much.  If there is a downturn it would be a perfect opportunity to add to your EXISTING holdings.  

It is all relative as well, your seemingly expensive MF deal in Michigan looks like a screaming buy to someone in California.  

@Quest R. That is a good area for rentals. 32k seems a little on the higher side but prices are rising. @32k all in it will need to be a really nice rehab too. Make sure it is an attractive property. 

Try castle.  entercastle.com

I use them and like the service a lot. 

I second castle.