All Forum Posts by: Drew Denham

How does bidding work for buyers ??

What about utilities and insurance? How did u determine your arv

Isn't it kind of risky to have 5 mortgages out at one time? 10 seems crazy to me! There are many techniques out there but the one I'm thinking works for me is to keep flipping to buy a property outright. What's the downside to this? Perhaps you will miss out on the time when real estate is low but then again I would just wait for the next down turn. Do you have a big savings contingency to support the 10 mortgages? Is there a rule of thumb? X amount per house of savings in the bank? Thanks all! Great conversations.

I'm torn of whether or not to refi my rental to purchase another house. Details: -I owe 56k and it's worth 110-115- probably be able to pull out about 35k and buy a house cash for another rental -10 year mortgage with approx 7 years left -Currently rented @945 which is basically a wash w payment taxes insurance etc. - rented out to a fantastic tenant -A- area - best area in bay city Michigan I really think I want to wait the seven years and have a 120k house free and clear renting at 1000 per month and I'll be 36 years old at the time. $35k will allow me to buy a house in the b- c+ neighborhoods. I appreciate any comments you might have.

What did you tell your buyers the asking price was? Can u explain to me what a reverse mortgage is ? Thanks and congrats!

Welcome - Grand Rapids has a ton of competition! I finally landed a pretty decent deal on the nw side... When is this BWW meet up?

Bought a 1700 SFH in bay city Michigan - $10,000 in 2012 Arv 90k Area is a B/B-

How nice is the house? That's really the question to ask? Did u put a lot of money into it to make it nice? If not, rent rent rent! You'll be happy in 20-30 years when it's paid for and you have income coming in monthly. If the house is in move in condition, I would consider selling to avoid abuse from a renter. My two cents

K. Marie Poe Furnace and ac are from 1983!!! House is rented at 945 a month and to a good tenant... I guess I'll get another bid

Quoted $5400 for everything in Michigan... I'm 200 miles away from the property so convenience is good too... What do current landlords spend on a Ac and furnace for a 1100 sq fr SFH?? Thanks all!!