All Forum Posts by: Robert Orel

3% sounds pretty high as you've already done most of the work for the agent. There's really not much left to do but order title work, inspections, get the mortgage in place if there is one and schedule a closing. And of course fill out the offer, lead form, and disclosures if the agent is involved if you haven't done this part already. When I was an agent I would have put this deal together for 1% but hey that's me.

Welcome to BP Ethan. I also invest in the Lansing area. I will be looking to purchase soon if you find any deals let me know! I.mainly do but and hold but am not afraid of something that needs a lot of work.

I'll send you a PM

I have been sued once. I have a duplex upper/lower unit. The downstairs tenant put a couch on the lower deck hanging off the edge and the upstairs tenant hit her head on it and had to get stitches. She tried to sue me because why not? Judge threw it out basing it on the lower tenants fault and she would have to sue them. No LLC currently and no problems. Took a couple hours in court though because the tenant sure liked to run her mouth lol

If the complex allows smoking I doubt there's anything that can be done. She should have checked the lease and rules before signing the lease. Perhaps ask the landlord if he would consider letting her out of the lease due to the smoke issue and offer a concession. Otherwise I think she's stuck till the lease ends. Goodluck

Congrats David! Sorry I don't have any good referrals at the moment as I self manage but if I hear of any I'll let you know

I would also check with the city and utility companies to make sure there are no Liens that haven't been recorded yet If the house hasn't been taken care of. I know in Lansing Michigan the city can take several months before liens show up from them.

Maybe the reason he's paying above market rent is for the use of the out buildings for his wood splitting business?

There are some good points and suggestions in this thread so far. In the Lansing area MLS there is an income property category and a residential category. Perhaps you could list it as income while the tenant is in the property and let the tenant know your looking for another investor after the lease expires and the tenant is out then list it as residential? Personally I don't think I would try to sell the property with a tenant to a potential owner occupant

Welcome to BP! You've come to the right place to get started. I'm also in the Lansing area if you have local questions, feel free to ask. I would suggest checking out the podcasts, lots of good info to listen to