All Forum Posts by: Julie Fagan

Port Sanilac, MI Lake Huron Lake front homes.  2 homes on site sleeping 20 people.  There is also a 2 car garage and large shed on property.  Beach is wide, sandy and beautiful.  There is a 15 x 8 foot Swimspa - Pool - Huttub overlooking the lake and next to the main house.  In the first year of rental, with minimal advertising and effort the houses grossed over $40k in rentals and its rented almost every weekend this fall.  Prime weeks rent for $3700 and that was BEFORE installing the Swimspa..... we have the house listed for weekly rentals of $3900 for next summer. Houses are remodeled with new bathrooms and fixtures.  Large deck overlooks beach and provides a beautiful sunrise view of lake for miles and miles.  

We have 3 vacation rental homes, and have started to move to larger multi-families, and decided to pair down our vaca rental business.  We have a local person that handles all the property management, maintenance, flips/cleaning and guest bookings.  She would like to stay on with new owners if that is an option.  This is the perfect way to buy a beach front home and have no out of pocket expenses month to month.  We typically reserve the house for our own family 2-4 weeks per year, and still have the home pay for itself.  Call 810 650 1232 or email [email protected] to express interest.  Thank you BiggerPockets for providing a indepth, vibrant and interactive venue for real estate investors!!!!   Sincerely, Julie

PATRIOT BUILDERS - Southeastern Michigan and Mid-Michigan.

Experienced in Flipping - General Contractor - All Trades on Staff:  Framers, Drywall, Interior Trim, Ceramic Tile/Flooring and more.  1 crew dedicated to your investment from start to finish.

I purchased a home at auction last week for $17k, it has an approx value of $30k-$35k.....  We are just picking this up for a rental - it should rent for $500 per month.   The couple that owned it are going through a divorce, and I believe the wife/daughter are still living there.  I'd like to approach them immediately, and see if they would like to buy back the house on a land contract, however I can not find any info if this is allowable during the redemption period.

Does anyone have any successful strategies for obtaining possession earlier than 6 months?  Pay for keys? etc?  I went through legal training regarding this subject 25 years ago, but I'm sure things have changed, and I am not finding a comprehensive guide pertaining to Michigan law.  

Thank you in advance for any help or ideas you may have.

Yes auction.com is a ripoff if you ask me.  Auction.com Corp internally bid against you, falsely inflating the price.  I questioned a Rep from Auction.com about this, and he said "Read your terms and conditions, its stated there that we can and will bid properties"

Then on top of the inflated price you pay, auction.com tacks on their % fee.   I bought there one time and will not do it again.   I ended up overpaying, was naive about the system and felt very ripped off the transaction.

Thank you both!!

I have found options for over 500k, tons of options for 4 units or less regardless of price.  Who lends on Multifamily / under 20 units / over 4, and loan needed of $250,000?    There seems to be a void of options for this criteria.  Thoughts?

Thanks!!

Julie