All Forum Posts by: Account Closed

Hi @Jorie Aulston!  Can you help me out with a proper assignment as well?

You do not need a RE license to manage your own properties in Michigan.  If you directly hire someone as an employee to manage the properties, they don't need a license either.

Congratulations!  Have you tried talking to your local REALTORS association for some resources or leads?

Have you done a background check?

What we usually do with rent-to-own is rent first for about 6-12 months, and if the tenant has good payment history, enter into an option to purchase with a good portion of the rent going towards the down payment.

Like Sam said, you shouldn't move forward without a down payment, deposit, or earnest money of some kind 

In person or online would depend on what you want out of it:  I did it online because I could do it at my own pace and when I wanted to; my broker likes to network, do he takes a physical class.

All said and done, I paid just under $400 for mine.

Hi!  I'm not an investor, but a property manager who works for an investor. :) 

Good luck!

Everything Jeff said is spot on.

You should give her the 7 day notice ASAP because things are only going to get ugly.

Who told you not to?  And did they say how/why it could get messy? 

Seems to me (I don't rent out vacation homes, by the way), that it could get messy if you don't have a lease or contract to fall back on if the tenants decide that they want to stay longer.  You could still evict them, but it's more of a headache in my opinion.

@Steve Babiak, to elaborate: the affidavit protects the property and owner because the delinquent bill does not go on the tax rolls; it goes to collection under the tenant's name.

@Steve Babiak, I was speaking specifically about Michigan.  We require that tenants put the utilities in their names: they have to provide a confirmation number for the electric/gas (provided by the same company here) before turning over the keys, and we give them an affidavit for the water.  I check online to make sure the water account is switched.  We give them a little leeway on the water for keys if the municipality requires a stupidly high deposit, like the City of Flint.