All Forum Posts by: Saravanan Saravanan

@Candice Jade Maristela If possible talk to handful of real estate offices and see what they have to offer. You can talk with smaller firms to larger national chains; to consider what fits your needs

@Jim Silverthorn

Congratulations on your property purchase with cash. There are few private and hard money lenders like us; who can look into the deal for funding. You can ask around to get details to see who fits your needs well.

1. Loan Costs including inspections and appraisals?
2. Interest paid monthly or pre-paid or paid at the re-sale?
3. Term of the loan?
4. Loan Points?
5. Draw Fees for renovation draws?

@T Gibson

Are you looking to borrow money for a rental or flip type property?  What is the exact nature and scope of the mortgage broker?

@Account Closed

Warren, MI has south zone, mid zone and north zone.  They change from landlord area to more owner occupied based on these locations.

The price points changes as well.

@Anthony Shaw
In my experience when we fund a transaction, including limited vacant lands; we want a Warranty Deed for the buyer. Also, we need to have the buyer receive title insurance from the seller and close deal through title company.

When someone builds things overtime on the vacant lot; which would be worth a lot from a few hundred thousands to millions; it is important there are no issues in the future on that vacant lot and now has a building on it.

@Account Closed
It is interesting to see how you rehab a property in Detroit remotely from CA.

Seems like many folks from California are constantly investing in Michigan

@Eerika Oxley 

It is sometimes challenging to go through unless we can review the full documents and date of these recordings.

If you are using a title company; then they can clear the title for you and provide title insurance between the buy-sell transaction.

The lender would also get the title policy. 

@Christopher Dargin

Welcome to the world of real estate.  Seems like you are targeting Detroit and Clevland.  It may be easier to manage within 20-mile radius of where you live and/or work.  

There are few networking events around the metro Detroit area; some are one day and some are evenings. These can help you to learn more and see how you can expand your knowledge to grow the RE business

@Aaron Pribyl Congratulations on your amazing journey with the live-in-renovation; that can be made into more flips.

There are few networking events around the metro Detroit area; some are one day and some are evenings.  These can help you to learn more and see how you can expand your knowledge to grow the RE business

@Nicholas Daniels

Get going with the first item on your list.  Learn from it and move into the next one.

Keep marching