All Forum Posts by: Pamela Morrison

@Felicia Jackson the 10k houses will bring tougher tenants and tough properties to manage, just my 2cents. If possible, try for the 30-40k range. These bring 650-800 in rents depending on neighborhood. We have 6, 4 rented and two in rehabs. The tenants are great and long term.  That is worth its weight in gold. We have a great property management company so we are hands off. Elga credit Union is a local bank that will lend these dollar amounts. 

@Amy Silverman hi Amy. We are Flint investors and live in the area. We are expanding and looking to purchase more. We renovate ourselves, my husband is a builder. I’d be interested in hearing more of your property. 

@Canneton Howard We use IPM, Innovative Property Management. They are on Corunna road. Sandra is the one you would talk with. 

@David Bowles First American title over in the gateway plaza off hill and Grand Blanc road has a for sale by owner packet with purchase agreement etc. an attorney would be best to draw up a land contract but the title company has that stuff as well. PM me location of house. Most rents are higher than 600, just depends on where it is at. 

@Hans Driesen well we haven’t had to evict anyone yet so I guess their tenant selection is pretty good! However we haven’t been with them long as we inherited tenants and contract through purchase of properties. We have a few new houses coming up for rent and we will use them for those. 

@Hans Driesen we use Innovative Property Management (IPM). On Corunna rd

@Aaron Watkins hello! We are Flint investors looking to expand. So far we have 4 single family rentals. Looking to get into small multiplex. 

@Scott Mac not sure if you have been to flint, but you can go across the street and be in a totally different world. There are many areas that are beautiful and safe and on the upswing, and they are not all in the areas you mention above. It’s just a city that you need to see for yourself, not on a map. And I hope I’m not sounding rude! I live 15 min outside of Flint and didn’t think it would be a good place to invest, but the rental market has had a huge upswing in the last year!  You need to know the area to make wise investment choices. 

@Ley Nezifort as resident near Flint, Mi as well as a new investor in the city, I can say first hand that I sure wish I was venturing into the investing world during the crisis.  Houses were selling for a song.  However I'm not sure if it hurt the rental community then.  But now the rental community is thriving.  The water is a non issue.  Some houses are sold with water filtration systems.  My guess is they installed during the crisis to help their tenants.  I have learned that even though there is a crisis, it will most likely end.  I'm not sure if you are looking to invest in Newark or already an investor there, but I would think get yourself ready to buy during the crisis.  If it is going to be similar to Flint, you will be sitting pretty in a few years after. 

We have a handful of rentals now and looking at upcoming tax sale properties. Would love some info on the process. What happens if you win the bid? Do you own the lien? Title? Need to evict if occupied?

Suggestions on strategies also is helpful.

Thanks in advance?

@Michael Ciesielski ELGA credit union in Burton will lend. Ask for Brad in commercial lending. It can be in LLC. Interest rate is higher tho and 20% down.