All Forum Posts by: Bryan H.

I did a flip in an area next to a run down, weeds growing out the roof, vacant property. Didn't affect the sale of my property one bit. 

I just checked to see what the house looked like on Google street view. 

https://www.google.com/maps/place/Ferndale,+MI/@42...

My flip is on the left, the vacant one on the right. My contractor is in the driveway. 

Flip after

Without knowing the set up, its tough to say. But counter tops at HD are around $100 so its not too expensive. They also sell end-caps to clean up a cut edge http://www.homedepot.com/s/countertop+end+cap?NCNI-5, I'd do that over some bent sheet metal. 

Dodd Frank will have much to say about financing the property to a owner occupant. My suggestion is to either rent to him until they can get financing, then sell it. Or recommend he look into FHA, VA or other bank financing that doesn't require 20%.

The market may dictate and the property may dictate too. 

If you buy a MFH it may not be set up for separate metering, so chances are you will need to pay that. 

On my SFHs my tenants are responsible for all except trash as it's part of my taxes. Water, sewer, electric, gas, cable, lawn maintenance is all on the tenant.  

Welcome to BP. I invest in Metro Detroit so nice to see new people in the area. I say stick with the cheap financing, use leverage now while money is inexpensive. I wouldn't bother with the LLC, although in MI they are pretty cheap to get and maintain. I do recommend additional liability insurance.

If you need any referrals or help from the area, let me know

Good luck in the D!

Nice work George. Exciting to add to the portfolio. Are you still self managing? At what point do you turn it over to a PM?

I'd say no, but that's me