All Forum Posts by: Account Closed

@Jon De Heus welcome! Check out some of the Facebook groups and local meet ups. Great connections and knowledge sharing!

@Cynthia Miller Do you have an attorney you work with? If not, maybe reach out to David Soble from Proven Resource. He should be able to help you navigate this and come out successful.

@DeJarian Dickson Graham are you an out of state investor or native to the area? If you’re out of state, you will need a reliable realtor, property manager, etc on your team to be successful. Boots on the ground is important. With a solid team in place, you can find success.

@Cynthia Miller what do your leases say about all of this? Your leases should speak to some of these issues. Maintenance and upkeep should be written in as something that can get you evicted. For damages...You can sue them. If they’ve damaged the property when you do your inventory, keep their security deposit and take them to court for whatever else is outstanding. If they don’t have a lot of income, they’re probably going to be expecting a big tax refund. File the paperwork to garnish is so you can get what is owed to you.

@Otis Floyd I would suggest joining Metro Detroit Real Estate Investors Group on FB and asking for recommendations. You can hear directly from people that use their services. I’d recommend interviewing at least 3 before making a decision. Place a lot of emphasis on tenant vetting and inspections which are common challenges for Detroit landlords.

@Yolanda Brown Nice! Are you planning to visit the area anytime soon to see the property and check in on things?

@Mike Kratz Renegade’s meet up is the first Tuesday of every month at Sheild’s in Southfield @6pm!

@Erik Romo I was thinking the monthly payments would be enough cash flow to at least free you up enough to invest elsewhere. I think Michigan caps interest at 11% so you could get that in the monthly payment if you wanted.

@Erik Romo also, have you considered just selling them to the tenants on a land contract? Tax season is coming up and they will likely be able to use their refund checks for a down payment. You can collect rent until then month to month and enter into a land contract at the top of next year.

@Erik Romo are they SFH or MF?