All Forum Posts by: Scott K.

Hi Jeremy! Regarding the homes you were offered in Detroit. Why did you decide against them? My thoughts are there are many people looking to purchase bank owned homes in Detroit that are having a difficult time finding them. Please provide any feedback.

I am sure it had to do with them being IN Detroit. A $600 house in the city has no nothing (plumbing, electrical, furnace, water heater). Has lead paint and mold in it. Needs a new roof and is in a warzone.

What cities are you looking at to get these houses. Also there are a ton of properties on the market that are from tax sales. Those can be tricky as I am finding out right now

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Originally posted by @Scott McMahan:

if it's because of a tax sale, Meridian will insure it without quiet title, where most will not. I'm sure your wife excels at her job, and I've found that all title companies are not created equal. For example, I've talked to a couple title companies, including my brokers title company, that won't insure title when there's an assignment fee on the HUD-1. An assignment fee doesn't make the title uninsurable, but it's outside of their box so they don't do it. Of course, if you're talking encroachment issues that might be different, but there are solutions to most title issues and some title companies just don't deal in solutions.

It sounds like your biggest frustration is with lazy and uninformed real estate agents, which I completely understand.

Yes its a tax sale. I even asked him more than a few times that I have to have title insurance on the property.

Yes I am getting pissed with these agents. What are they thinking that I will still buy it without being able to get insurance.

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Originally posted by @John Rooster:

Originally posted by @Scott K.:

Looked at 3 houses today. Pass the info to my wife who is in upper management at a title company. She does some homework and say these are not good properties due to not being able to insure these properties.

Unless they are all owned by the same owner, the odds of having three of three properties not be insurable are somewhere around 40,000-1. So, either you are very unlucky, you are looking at properties with easement/boundry issues in very old neighborhoods, or your wife isn't very good at her job.

Yes they were all owned by the same people. She is very good at her job. I am a very lucky guy.

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Tired of these agents saying yes its all good. The title work is already done. I just need to pay a 250 fee.

I even offered on a house and the agent said that will get it. I am getting so pissed at these people.

I want a property, I need a property, I have cash and I still can't find a property. God I am so pissed.

Ok rant over

Detroit, Michigan area is going crazy

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Originally posted by @Will Daw:

I actually spent some time in the area looking for properties. If you want anything in Midtown or Downtown, it's a nightmare. It feels irrational.

I did see a building I liked and the broker told me the developer was having major issues with his lender. Anyone know how to find who the lender is and reach out to them?

So the broker told you this but you didn't ask him who the lender was??????????? You need to be connected to get downtown or midtown. You also need big big money to pay off everyone that needs their cut.

Also we are not talking about downtown or midtown. Most of us deal in the burbs outside the city.

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the cabinet over the fridge needs to be out over it. Its impossible to use it when its like that. I hate when people finish a kitchen and have that cabinet like that. It looks terrible.

Add some light under the cabinet and have them turned on with the counter completely cleared. Turn the lights on when they come to look at it. Also light above the cabinets

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Originally posted by @J Scott:

Originally posted by @Scott K.:

I would not stage a 200k house, I look at as many properties as I can and hardly ever see them staged

In that case, staging will certainly allow the OP's house to stand out among the competition...

that's true. Its just not very popular here in Michigan. Agents don't even suggest doing it in lower cost housing.

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I would not stage a 200k house, I look at as many properties as I can and hardly ever see them staged

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Originally posted by @Andrew Sherwin:

I've been looking at Saginaw recently. Probably good for 10-15 houses or so. Most of them are on the border of the war zone (just over the river) but probably not bad. Have a sister-in-law near some of them and it's a pretty nice neighborhood. I would feel safe having a family there. I used to be scared of Saginaw but parts of it seem to be improving. Maybe the same could be said of a lot of Michigan though.

I would rather be in Bay City then Sagnasty. It could turn bad real fast. Just not enough jobs up there.

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Originally posted by @Gary Gallo:

Seems to me that almost all of the bank owned properties have dried up. The only properties on the market are Fannie Mae and private sellers. Is anybody else finding this to be true? And if so, why do you think this is happening?

I am a HUD inspector and I am down in properties. I am worried about losing my job.

Used to have 140 just on my route now I am at a little over 50.

I will have to buy houses to earn some money

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All Forum Posts by: Scott K.

Scott K. has started 25 posts and replied 663 times.

Post: Flipping home in Metro Detroit

Post: What part of needing title insurance do they no understand

Post: What part of needing title insurance do they no understand

Post: What part of needing title insurance do they no understand

Post: Michigan prices are going up

Post: First "Fix and Hold"- Need ADVICE for front yard!

Post: Looking for Staging in the Baltimore area

Post: Looking for Staging in the Baltimore area

Post: Michigan prices are going up

Post: Michigan prices are going up