All Forum Posts by: Kevin Auyong

Good luck with this. You will have to pay a good amount to get all rights from a good photographer. There are lot's of cheap average photographers that you could do this with. If their work is good enough for you, then you are set. If you have a really demanding need and need a top notch photographer you will have to pay a lot more.

That being said most people with websites that are small potatoes don't need all rights, just usage rights and not the copyright.

so does the new owner have to honor that security deposit that was stolen?

Congrats on another in the stable! What is the tax rate up there anyway?

J Martin-I'll be there!

Aaron, thanks for the info. I'm going to go look at a map to see the areas you talk about.

Detroit is a big area, do you think the city's problems will trickle out to these better areas and bring them down-businesses closing, crime rising, etc?

Or do you think the area is strong enough to do well even if Detroit totally tanks?

Mike, since you are looking over the long haul it sounds like you are confident these areas will not decay?

I used to own a triplex in a lower middle class area in San Leandro Ca. It was pretty stable but over the years some of the bad elements of Oakland started moving in. This increased crime a substantial amount. Drugs, prostitutionm shootings, etc. All of which never happened 5 years previously. As a result a downhill momentum started and couldn't be stopped. I am glad I sold it years ago as it is not a good or even okay place to be.

You are not worried some bad elements will shift your areas.

Where is wayne and westland? Are the considered the suburbs?

Just wanted to say thanks to J Martin for putting this together. Met a few people but wish I had time for more.

I think a quieter place would be better next time although our group made most of the noise :)

Mike, all kidding aside, did you actually get a chance to visit the area? Curious to see how this pans out. How much will the area be affected by Detroit's woes?

lol

This sounds like the pretty girl you finally get a date with.

Pretty - yes!

good job -yes!

great personality - yes!

herpes - yes! . . wait. what????

Just beating a dead horse . . . not a deal. And the numbers you propose scream newbie analysis.

"I could get it under contract for say $480K and flip it to a rehabber for say $500K. Even with $65K in rehab costs, if they sell for $615K that's a nice spread. Thoughts?"

If the rehabber had to pay 6% commissionto sell that's $37K right of the bat. That leaves him with $578K less the $565K he puts into it. That's only 13K profit without adding in holding costs, title costs, etc.

But wait, you said $615K was for a house 300 sq ft bigger, so let's say he can only sell it for say $570K. It may not even appraise for the $615k you propose he sells it for meaning it's a hard sell for most buyers.

This one screams money loser for him, money maker for you if you could pull it off