All Forum Posts by: David Hall

Yes, @Pierce Fitzpatrick.  Dec 19th at Tony M's on Creyts Road we are having a mortgage lender speak regarding programs they offer that are non-traditional and are good options for investors.  I hope to see you there at 6pm.

Lansing is a great market to invest it.  Supported by not only the community college and michigan state university.  We also have hospitals, GM and the US Capital that provide steady mulfi faceted job opportunities for your potential tenants.   I always recommend that your first investment be close enough to home where you can be a part of the process and learn a little more from being more hands on. 

I've successfully dong the BRRR strategy in Lansing and helped other investors do the same. If you know the areas, the crime is easily avoided and profits and properties and be steady.

I am in Michigan and dabbling in wholesaling as a licensed agent.  My broker said I should disclose to any potential seller that I am a licensed agent and that the offer am I presenting is probably not their highest offer possible if they listed the property.  I offer to list it for them, if they have time and money to hold it longer and wait for the market.  OR if they wanted a quick closing knowing that it is below market I can offer them cash and a quick closing.

The major grey area is marketing a property you don't have a contract to market. As agents in Michigan all contracted properties to sell must be listed on the MLS (no pocket listings) and you must have a contract in place before marketing a property. Is an assignable contract a property? Some say, you are marketing the contract, not the property itself. I've yet to see a court case on a decision on this. Until then, I can see both sides.

Nice work and thanks for sharing.  "live like nobody else now, so later you can live and give like no one else" - Dave Ramsey

I'm interested when you give them the letter explaining the reduction or elimination of the security deposit.  Are you justified keeping all of it because the fridge is dirty?  I know it's bad, but that can't me more then a couple hours of work, and for a $10 an hour employee.  

I've reserved a location for the rest of the year. Tony M's off South Creyts near Meijer warehouse is hosting us for the next two months at least. The dates are below. I am experimenting with different days of the week to see what attendance looks like.

Chaz Carrillo Commercial Team Leader at Holt & Dimondale Agency will be sharing his expertise on insurance for rental properties and business owners.

Nov 27th - Tuesday
Dec 19th - Wednesday

Assuming these are on the same parcel and deed you should have no problem getting owner occupied financing on the property.  They are not considered requiring "commercial" funding unless they are 5 units or more.  Even if it was a licensed full out 3 unit you can still get conventional or fha or any residential financing.

Good luck!

I finally locked down a location for the rest of the year. Tony M's off South Creyts near Meijer warehouse is hosting us for the next three months at least. The dates are below. I am experimenting with different days of the week to see what attendance looks like.

I am working on getting speakers now. If anyone has recommendations let me know. Otherwise we can continue to network and build each other up.

Oct 22nd - Monday
Nov 27th - Tuesday
Dec 19th - Wednesday

I finally locked down a location for the rest of the year. Tony M's off South Creyts near Meijer warehouse is hosting us for the next three months at least. The dates are below. I am experimenting with different days of the week to see what attendance looks like.

I am working on getting speakers now. If anyone has recommendations let me know. Otherwise we can continue to network and build each other up.

Oct 22nd - Monday
Nov 27th - Tuesday
Dec 19th - Wednesday

When this happens to me  you have to tighten up your criteria.  Narrow the search area to that specific block if you can.  Also, only count comps with similar layouts.  Maybe bungalows are hot in your area which is why they sell for more even though they are identical in sq ft to other homes.

Days on market is very important.  Using the search you already did, consider the homes that have less than a week or two on market.  This price point is where the greatest demand is, hence the quick sales.

Hope that helps.