All Forum Posts by: Corey Woodruff

@John Van Uytven. I NEVER FORGET THAT!! HA

Are there any landlords in the Saginaw michigan areas that have any experiences renting in the city limits(48601) the not so good part. I was driving through the city and there are a couple neighborhoods that look workable. Just wondered if anyone has any insight on these areas

Was driving around saginaw, mi with my fiance and drove by a duplex with notes on both front doors. So I stopped and they were foreclosure letters. Called the agent that was listed on the door and it hasnt even been put on the market yet so the moment it does she is going to call me. Driving for dollars really does work cause thats obviously something I wouldnt have found online. Hopefully I can close on it!!!Ill keep you all updated!

One of the best ways to be able to pull out equity within a year of buying the property is by using forced equity(appreciation) which means getting a house that needs a little work and doing the research to find the ARV(after repair value) so if you buy a fixer upper for 100k and its worth 170k after you fix it that would mean that you would be able to refinance for around 80% of what your home is worth(170,000x80%) That would be the best way. OR the BRRR method which is buy rehab refinance rent repeat for more info on this look to read the book on rental property investing by brandon turner

It will be very hard to find a family to buy the home if you choose to sell it. Not too many families looking to purchase an 8 bedroom home. Your buyers are definitely going to be limited with that type of house. I would listen to the podcast titled turning wierd properties into cash flowing monsters! that is perfect podcast for that kind of house. Listen to that, that will help you greatly

hope this helps

Im on that book now! Let me know what you think.

yea thats understandable for sure. 

That is unfortunate for sure. Just make sure to keep your lawyer moving so that you can get the eviction process done and over with in as little time as possible..

I love the term "tenant proof" your rental property and when getting your property ready to rent really think outside the box of how you can put things into your property that the tenant cant mess up or destroy. example laminate flooring instead of cheap carpet that you are for sure going to have to redo in a year when they move out. Not doing ceiling fans so you dont get maintenance calls to fix them. Little things like that, that will save you money in the long run is really getting the home rent ready in my eyes

hope this helps

Would it be best to have this meet up done at a place that serves food as well or just a regular hall? let me know what you think?