All Forum Posts by: Wendy Patton

sounds like an interesting property for sure - too bad it's not closer to me in MI or AZ

@James Wise. have them reach out to me - always looking for good PMs in the city of Detroit.  Not for me, but for clients i have all over.  I would love to connect.   

@Account Closed cure the default immediately if you got the deed.  Yes, you should file asap or you really have nothing (anyone can file before you) - Cure!!! 

Also having the deed recorded or not has nothing to do with your tax situation. Whether you file or not you own it and have a tax liability when it sells. 

Why would you need to quit claim the deed back to the seller?  Wasn't this a good deal?  I have a saying when i am teaching about subject tos:  "If you can't make it, Don't take it".  i mean if you can't make their payment to keep this property on track financially then you should not be getting the deed from the seller.  It is not the best ethical way to do this business.  If you don't have the money to cure, or it's not a good deal, then go back and give it back to them.  If it is a good deal then get it cured and keep it on track.  I hope this helps. 

I would say being a lender myself, that yes, I do see what is moving in the market....what people are paying.  What they are putting into a project, etc.  Also, maybe times I find deals they want, or visa versa..... networking is the key to every successful business person.

@Clarence Henry benson. Drew does management and I do lending in the city.  Maybe that can help you ?  i also run the MIchigan real estate investors group and we meet tonight if you can make that.

@Clarence Henry benson look me up. I would love to help you in anyway - tonight is the michigan real estate investor meeting also.  great place to network for you -  I am also a hard money lender locally

@Jimmy Hilaire Master lease options are always something to consider for multi-family, however, I have never been one to suggest paying top dollar in a market that is starting to slow down significantly.   With Rental rates stable (vs on the rise) I would caution for that.  Wait for the sellers to become more motivated but start to have those conversations.  The time will come..... motivation will increase at some point.  I have a really good book on lease options and subject tos (and subj tos might be better if they have a good loan rate).  You can get it on Amazon.

@Don Konipol yes i did!!!!   it's on Amazon 

@Wendy Halverson love this idea - come learn more about these this week at our event on Thursday night - meet some like minded people too -   would love to connect

Looking for a potential PM company in Evansville - What are the good national PMs that you would recommend?    150+ units