I have 3 properties in Holly , Michigan . I'm thinking of selling

[Jeff Weaver]

I have 3 properties in Holly Michigan I'm thinking of selling . Not sure what to ask for them..? 401 s. Saginaw st, Holly, MI 48442 ( purchased 1994) A 5 unit building ( 4-1 bed room units, 1-3 bedroom unit, a large garage and a coin laundry, some units tenants pay gas and/ or elect ) I currently trade use of the garage for lawn service at all 3 properties. 12 Mo Rent income $ 34,680. 12 mo Avg water $ 3680 12 months taxes $ 4520 12 mo Avg Consumers gas $ 2240 314, 316,314-1/2,316-1/2 broad st, Holly, MI 48442 ( purchased 2000) ( 4-2 bedroom units and a coin laundry, tenants pay gas and elect) 12 Mo. rent income$ 32,400.. 12 mo Avg water $3315 12 months taxes $5082 And 314 s. Saginaw st, Holly, MI 48442 ( purchased 1994, sold and got back) ( 1-1 bedroom unit and 1-3 bedroom unit, tenants pay gas and elect) 12 Mo. rent income $ 22,164. 12 mo Avg Water $ 1425 12 months taxes $3044 Total of the 3 rent income $ 89,244 Total 1 yr tax $ 12,646 12 mo Utilities$ 10,660. + Coin laundry income at broad st and 401 s Saginaw apx $ 1,200 ( needs new machines at 401 s Saginaw so should be more) Over all Holly has been a good place to invest. its a well run town. The rental inspector is easy to work with. and the units are easy to rent. I keep a sign out all the time and try to keep a list of potential tenants. and I call them when something opens up. All my leases are 1-2 years then month to month. I have Many Long term tenants who pay on-time and will be there for years to come. Having multiple properties has allowed me to keep good tenants and move them to a larger or smaller unit as there needs change. The reason for selling : Deprecation, I've owned these for so long that i would be better off to buy more expensive properties. When i sell i would need you to work with me as i do a 1031. I will not do a land contract. ( I need to buy something else on a 1031) may consider a trade. I've been buying in Madison heights, Pontiac, Keego Harbor . May look at other areas ( Ferndale, Royal oak ect ) These are more convenient for me and my property manager. May also consider a large multi family. Let me know what you have or if you know someone who has something they want to sell. Thank you Jeff Weaver