Buying property in Michigan

[Doug Dattawalker]

I'm new to Bigger Pockets and love the wealth of information and knowledgeable people providing advice. I'm looking into investing in the Detroit area, but not so much in the bottom range fixer uppers, more in the turn-key rental markets. I live in and understand California real estate and have some questions about purchasing in Michigan. Property taxes seem high? And have a summer and winter tax? Are these in addition to basic property taxes? Is the purchase process similar to California? I plan on using a buyers agent if anyone has a recommendation. Are there any special closing costs or fees that are different? I saw one listing that said 'seller will furnish C of A'? What is C of A? Are there standard monthly expenses on a rental that a landlord would pay? I'm currently paying HOA in my rental, and am wondering about sewer/trash/gas/ etc. Thanks in advance! Doug

[Theresa Randall]

Hi Doug, Where in the Detroit area are you planning on investing? The property taxes are probably higher in comparison to other markets. But, many of the Detroit suburbs have excellent schools, libraries, and community centers. The basic property taxes are split into two payments, one in the summer and one in the winter. Sewer is included on the water bill, which most cities bill quarterly. I believe trash is included in the property taxes. Gas is usually used for HV and the water heater, gas prices peak around Dec-Feb for the winter and are very low in the summer months. I am assuming you would have the tenant cover the water/sewer, gas and electric. I am still in the learning stages myself, so I can't offer any advice on the C of A. Hope this helps. I would definitely recommend making a trip to Michigan, we have beautiful weather in the Spring, Summer and Fall. Good luck on finding the right property.