All Forum Posts by: Lawrence Henkel III

I have only seen it in small houses and most people do not like it because it is not the norm. I would seriously look to find someplace else in the house or at least another way to steal space for the kitchen but still give the laundry a smaller separate space.

Keep in mind you will only be able to claim the homestead on the unit you live in so if all units are = in size you will only be able to homestead 25%. Also the property taxes will be higher than what the current owner is paying. After a sale the taxable value will be adjusted to match the assessed value. The longer the current owner has owned the property usually means a bigger jump. This will usually happen the next year after purchasing. So I bought a property in 2017 and the previous owner held it for 20 years my property taxes increased about $1,400 a year for that property.

I’m happy to stay in Michigan where the fresh water is. Warm weather is nice and I will definitely come visit it during the brutal winter but I cannot imagine living where water is scarce.

I think 650 is high in that range they can easily qualify for a mortgage and would be more likely to be looking to buy a house. We pay more attention to the content of the report instead of focusing on the number.

David J. Have you frozen your personal credit file with Experian? I froze mine with all 3 credit reporting bureaus after the Equifax data breach and realized I needed to unfreeze my credit with Experian so Cozy.co could verify my identity to release my prospective tenants credit report to me. It was very frustrating and it cost $10 to unfreeze and another $10 to refreeze it. Other than that I love using Cozy.co. I do think the application could be better and I wish it was more customizable. The delayed deposit is ok since it is a free service and as long as I know it is not that big of a deal. You can pay to have it expedited I have not used that feature. I tried using the maintenance request feature to schedule a furnace filter change and my tenant said they never got the message from Cozy.co. I’m not sure what went wrong there.

Hello and Welcome, I live and invest in Ypsilanti. I’m in the middle of my first Brrrr project right now. I have one other rental that was not a brrrr. So far the biggest challenge is getting contractors lined up. There is a shortage in the area and it is making this a much longer process than I anticipated. We are currently trying to find a drywaller we gutted it down to the studs so we could replace the 1901 wiring and add insulation and replace the plumbing. Now we just need to get it drywalled. Good luck Larry

Has anyone had any experience using a company like Leaselock. It is basically an insurance policy your tenant purchases that guarantees the rent. It sounds almost like they took the concept of PMI and made a version for tenants. If they don’t pay they still get evicted but you can file a claim and get rent payments until you rent your unit again. It also has a damage component to replace the security deposit.

Chad Lamb Jason Schwerin I work in the insurance industry and I would highly recommend firing the agent that gave you that advice. You never want to lie or fib when it comes to insurance. If you do need to file a claim and they determine you gave false information not only will your claim be denied you could also face insurance fraud charges.

We use Olde Towne plumbing all the time. They are fantastic. For excavation we use Citadel Excavation also in Ypsilanti. They were great and had great prices. I️ highly recommend both companies. You might get a better deal if you have the work done in the winter when they are not as busy.

Is there even a gas line running to the stove? There is usually one or the other. I have a rental with a gas stove and don’t think there is that much more risk. Are they going to pay to have a gas line put in?