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Updated over 8 years ago,
- Quality Technician in a CNC Machine Shop
- Rapid City, MI
- 34
- Votes |
- 153
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Michigan Tax Deed Sales
(I hope I picked the right place to put this in the forums?? OK by me if it needs moved, and I apologize in advance)
I am still new and have no deals as of this time. I tried last year at the 2015 Michigan Tax Sales, but the one I wanted and did bid on, I did not get. AND I did not have a backup plan as far as a second or third choice to bid on. Fast forward one year and I have spent alot of time reading forums here on BP, Podcasts, Webinars, etc. trying to get myself in a better place to make a deal with confidence.
I have a specific property that I wish to bid on this year. I know it is in an POA/HOA and is in really great shape compared to others in the Tax Sales (Ironically there is a 4-Plex in the same POA that is also in great shape if anyone is interested in that one.....perhaps I could be your boots on the ground for that one??).
I would like to find a partner quickly (auction is Tuesday), but not sure if I have enough of a due diligence about partnerships? I admit I am nervous about partnering..... @Brandon Turner makes partnering sound sooo easy....LOL
I can bring 50% of the money to the deal if it goes for less than $30-35,000. My gut tells me, that it will go for more. SEV is $42,900. My husband is not on board with us being landlords and thinks I should try Wholesaling or Flipping? I was not getting good vibes from him, as the auction creeps closer, so I made him come look at it with me last night and he actually got on board to a more comfortable degree and thinks we should definitely try to get this one (I honestly think he thinks all tax sales are for run down trailers with 30 yards of trash in them).
I am open to all options at this point and really want to get a deal under my belt. I am also working on my team on this end. I ask for referrals of contractors and I tell everyone I will buy a house this year.
Anyone out there, here on BP, have advice or have done a deal specifically involving a tax sale property in northern MI? Would love to hear your success and learning experiences.
Thanks for reading,
Melody