All Forum Posts by: Joshua B.

@Hongling Lu what brings you to Ann Arbor? Studying at the University? I’m a LS&A grad from 2007.

I’ve owned a few properties in Ann Arbor and in the surrounding area. A house built in 1945 isn’t super old in my book. In fact, by my amateur eye, it seems houses improved by the tail end of WWII particularly with regard to foundation construction. I’m sure there are builders on this site who can explain it, but around that time it seems foundations started being built deeper using either poured or block concrete instead of stone/mortar.

In any event, a good home inspector is a valuable resource and there are plenty around. Hit me up if you need any help.

@Mike Mitchell how about paying the taxes and in return getting a note/mortgage for the amount?

@Chad Harter HomeSpec BasementFix. The owners are good and honest people.

@Michael Layne East Lansing buyers should be a bit cautious. MSU just announced that sophomores now have to live in the dorms, so I’ve gotta think that will hurt the rental property market. Could be a tiny bit could be a lot, but definitely seems worthwhile to ask some veteran landlords what the impact will be.

@Kinju Dudhia just call a local title company and have them do it. It’s way cheaper that way. A lot of bigger title companies have attorneys on staff too if you have any specific questions.

Hi Kevin,

I was recently looking at a multi-family in Cheboygan and searched for a property manager. I called around and the word I got was that there was exactly one person in town who would do it. In calling around, I learned that there were a few places that handled vacation rentals but not much in the way of year-round property managers for regular rentals. If you're focusing on a lakefront house for short-term stays I think you'll have a much easier time than if you're doing a SFH and trying to be a remote landlord.

Hope that helps.

 This is the statute - http://legislature.mi.gov/doc.....

@Shondea, I doubt you're going to find an answer on point. I think you'd have a good case to argue that you're the purchaser since you're the one with the interest in the sheriff's deed at that point. Not really any different than a bank transferring its interest to a different legal entity. I think the spirit of the law is on your side since the idea is to make sure that tenant's don't trash property during the redemption period

 Will do. If you need any help with legal questions or have any interest in becoming an agent, hit me up. I have a brokerage with a few BP members so that we get to keep commissions on deals.

You're a real estate agent, so I'm not telling you anything you don't know, but I think you're going to find it incredibly difficult to find a cash flowing property in Ann Arbor let alone one that cash flows, pays a decent return to investors, and pays you something. Just so competitive there.

I'm starting to look in areas where Ann Arbor growth is going to spill to like Whitmore Lake, South Lyon, Brighton, etc.

@Stewart Beal I sold yearbook ads every year in high school for Calvary Christian Academy in Ypsilanti. Selling yearbook ads for $50 or $100 a pop wasn’t the easiest thing to do, especially since all of our advertisers were small business owners and those $50 or $100 checks were coming straight out of their pocket. As much as I tried to convince them of the value they were getting for their ad, I knew it was basically charity. There were a few local businesses that I could count on every year to buy an ad and Congdon’s Ace Hardware was one of them. They were always very supportive of the local community. Good folk.