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All Forum Posts by: Bill Bodziak

Bill Bodziak has started 8 posts and replied 112 times.

I have tried paid FB advertising to drive traffic to open houses...... I did it for about a month and target certain areas with the targeting criteria that would be most qualified to purchase the home that I was hosting. I had 0 results/leads. I have better turnouts spending 30 minutes going door to door with door hanger invites to neighboring homes a day or two before the advertised open house....

Post: Wholesaling - Legal or Not? An Attorney's Perspective

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

Most attorney opinions I have seen are similar to the one you posted. It all depends on how the wholesaler presents themselves and disclosure is essential.

Thanks for the post!

Post: Hi, new slumlord here. General advice request.

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

@Dawn Anastasi great suggestion with the cabinets. Habitat for Humanity or local construction recycling warehouses are a great source for super cheap used kitchen cabinetry/counters that I have used in basement laundry areas.

Post: Hi, new slumlord here. General advice request.

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30
Originally posted by @James W.:

This property/situation is just one of many that I have as part of this whole deal (I bought a portfolio). My intent is to fix what I can, if it is reasonable. Provide adequate housing for people in the process, and then move on to other properties in 3-5 years. It doesn't make sense for me to stick $40k into a $90k property that I paid $60k for, so I can sell it in 4 years and see a $5k profit.

Again, everyone, my question is this:

Do I have a legal obligation to advise them maybe it's not a good idea to live that way (leaving clothes on a wet floor)? And do I have a legal obligation to fix the water issue?

Originally posted by @Ryan Dossey:

Did you advertise it as including an "in door" swimming pool? I think you're missing some cashflow if you didn't. 

LMAO

You're the kind of guy I'd do business with :D

@Dumitru Anton it does appear that a lot could be alleviated with a better gutter system and also a sump pump. Thanks for the comment about the flak - I've got thick skin, no worries there. :)

@Vincent Crane your comment about city/permits/etc - the tenants aren't Section 8. I have reason to believe that they knew about the water issues before they moved in. With that in mind - how does the city/govt/etc get involved in this kind of situation?

If the tenants or one of their nosey friends reports the property to the city or health department then it will be a huge headache for you. If MOLD makes it to public record, good luck getting all of your $$$ back anytime soon. @Dumitru Anton makes a great point on how to start. Add a good deep cleaning after the repairs and maybe the tenants will appreciate your pro-activeness and reciprocate by keeping the basement clean. I have seen many basements like this in MF and a couple coats of sealer and gutters/proper drainage work wonders when it comes to wet basements.

Good Luck!

Post: Investing in Detroit suburbs - safety issues?

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

Hi Diana,

I would say, never travel alone in any city you are not familiar with. Look for a REALTOR from the Detroit area and familiar with all the neighborhoods. Some agents may be hesitant to spend a day looking all over the place but show them you are serious and you are able to close and you will find one to drag around for the day!

Best of luck, safe travels.

Post: Real Estate Agent/Investor in Michigan

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

Hi Chad,

Welcome! I grew up in the Lapeer area and am in the Northern Oakland County area now. Are you looking for SFR or MF in your farm area?

Post: Getting Started

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

Hi Chanel,

Welcome! I would advise you to check out Oakland Real Estate Investor association. They meet near Warren monthly.

Good Luck!

Post: Best ways to market a service to listing agents?

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

@David Hunter had a great point..... Agents are definitely more inclined to invest in your services if the service will help generate leads. 

Post: Best ways to market a service to listing agents?

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

I have been facing similar challenges with a RE photography business. Best success I have had is print off the jumbo postcards from vistaprint find the largest broker in your area buy a couple $5 starbucks gift cards (for the front desk assistants), show up, charm the front desk and ask them put a flyer/postcard in every agent's mailbox. Find a newer RE photographer who is willing to split the cost of this advertising---it will greatly benefit the both of you.

Target commercial brokers...they are more willing to pay to market properties.

Ask the desk who they use for photographers, call them and offer services.

Offer services on fiverr.com I have seen many voice-over gigs offered. 

Good Luck!

Post: Local Michigan Wholesaler-Having difficulty finding high and low comps for my property

Bill BodziakPosted
  • Real Estate Agent
  • Bloomfield Hills, MI
  • Posts 117
  • Votes 30

Hi Lannie,

PM with your email and CMA. I will run a comparable market analysis for you.