All Forum Posts by: Joshua B.

There's almost nothing in a course that isn't already in a book at a library (that you can get for free). There are hundreds of really helpful books, just pick the subject that interests you.

Most of the people I've ever seen advocating for courses are people who have a course or "mastermind" group membership to sell you. Generally paying thousands for knowledge that's readily available, it's just people don't want to make the effort to spend time learning on their own. 

Assume builder covers everything and that there's no model home. Basically it'll be easy to sell and the only thing needed is an agent to negotiate and handle paperwork.

For anyone who's done work with builders, what is a typical commission arrangement for an agent or brokerage that is contracted to act as listing agent for a whole subdivision? Assume it's in a high demand area.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000

Bought occupied off the MLS for $125,000. Assessor has it worth $220,000 ($110,000). We'll see what it's like inside once I take possession.

What made you interested in investing in this type of deal?

Price significantly lower than value.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Cash

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the agent and the buyer

Originally posted by @Drew Sygit:

If you sold it why don't you share the address and pics?

Sent you a PM. This one had some drama with the seller due to the end buyer and seller not seeing eye-to-eye. I never took pics except for one outside picture.

Investment Info:

Single-family residence wholesale investment in Royal Oak.

Purchase price: $155,000
Sale price: $180,000

Easy wholesale deal

Originally posted by @Chad Hack:

Thanks everyone for the helpful information and replies to my post. I look forward to getting started, and working with some of the members here. 

I worked as a real estate attorney at one of the largest law firms in Michigan. Before spending any money on an attorney, I'd look into just setting up your LLC on your own or using LegalZoom. Much cheaper and easier. It takes less than 15 minutes and most attorneys are going to charge you $500+ to do it.

In terms of rental property questions, most of them are answered in the Michigan Landlord-Tenant handbook: https://www.legislature.mi.gov...

That will answer 95%+ questions. If the answer isn't there and you like learning, most attorneys use Michigan Real Property Law by John Cameron Jr to find their answers, but if you fall into that 5% you may just want to pay someone else to find the answer for you.

nice work! finding deals in Ann Arbor is always hard

@Gary Honda literally everyone in this thread “I’d totally invest in [fill in the city they live in]….great spot”

Originally posted by @Mac Boeve:

Hi All,

I have an unfortunate situation that I could use help problem solving.

I have a tenant who was the victim of domestic abuse. The abuser has recently been released from jail and has been showing up at the property. The tenant is okay with this, but I am not. I want to do what I can to protect my tenant, but since this is a house-hack my top priority is the safety of my family. So if I'm legally able to keep the abuser away I'd like to go that route. But if not, or if my tenant keeps bringing him over, I'll need to get them both out asap.

A few extra details:

- This is an inherited tenant on a month to month lease

- The abuser was living with the victim but was not on the lease

- Abuse happened on the property, victim was hospitalized, and abuser was arrested

- Tenant is section 8

Any advice would be greatly appreciated.

From the outside looking in, it seems that you'd put your family in more danger if you start interacting with this person you view as dangerous and telling them you don't want them around. If you just let the tenant know that the lease is ending, it's nothing personal with the abuser. 

I'd be very cautious before inserting myself into any situation where I don't really know the people.