All Forum Posts by: Phillip Dwyer

Depends upon what your version of great cashflow. Two years ago there were awesome deals. Now it's much different. A $150,000 house will likely rent for $1100 depending upon the location.

Welcome James. There are a lot of quality BPers from the Detroit/Southern Michigan markets. Do a few people searches by city to find them. Best of luck!

What's the highest and best use? Theat may have changed since the appraisal was competed.

This is typical in our market.

Just a friendly reminder. The next meetup is next Tuesday night 7-9pm at Tuscany Grill. Let me know if you plan to attend.

Hi Chuck,
I'll send you a PM for more detail.

Hi Chuck,
What would you like to know? Most of the valley has been experiencing sale price increases since spring 2012 due to inventory shortages and continued strong demand. Meanwhile, rents have been declining for about the same time period. Obviously, individual neighborhoods will have different rates of change, but this is a good general overview of what's been happening here.

John,
To streamline your efforts, you should do some online search of property records to find the owners. Otherwise you're going to spend a ton of time with non-decision makers.

Hi Shema,

The appraisal industry is highly regulated. Probably more so than real estate. Before you spend the time and money getting your intern license, make sure you have a supervising appraiser lined up. You won't be able to do any work with an intern license unless you have a certified general or residential appraiser (I'm not sure the names in Ohio) sign off on your work. You will have to be licensed in each state that you want to appraise in. A great resource for aspiring appraisers is www.appraisalinstitute.org. Good luck!

Try Michael Later at http://www.mlaterlaw.com/