All Forum Posts by: Daniel Klebba

George the site is not allowing me to pm you. Mind sending me a message?

Does anyone have any good exterior painter recommendations? There is a 1,100 sq ft house I'm interested in but it needs an exterior paint job and I need to know how much I can expect to pay for it. Thanks, Dan

I'd be interested in talking to you and seeing what you are considering. I too am in Michigan and new at real estate investing.

Stavros Bezas sounds good to me. It is a bummer the Hotel is gone I was a big fan.

Joe Doman congratulations! Canton is a great area. I grew up in Plymouth so I'm very familiar. I too am looking for my first deal. Great idea using direct mail.

Can one file for an LLC from out of state? Say I live in MI but want my LLC to be filed in another state?

I don't think it would go up substantially. The area that it is located in there are a lot of rental duplexes so competition is fierce.

The comps on the duplex are all at $75. The market won't dictate me getting much equity in the duplex. Whereas the SFR, say I buy it for $45k, clean it up (the comp that was listed for $45 needed the same work). My cash flow would be higher each month. Also if I decide to add s bedroom in the next few years the house value jumps significantly. Possibly up to $120k.

I'm saying the SFR is a Forclosure that is listed for $65. The most recent comp sold for $45 so I'm saying if I could grab it for that I'd consider it. I definitely don't plan on buying it for $65. Thanks for the feedback!

Quick scenario analysis: Given these two options, which would you go for first assuming you have the ability to act on one right away. Option 1: Fully rented duplex listed for $75k in a good school district. Total monthly rent is $1300 and the cash flow would be about $300/month total. The units are in decent rentable condition but could use some updating. Cash out of pocket is $15k down and the property will probably need about $2000-$3000 in repairs. Option 2: A foreclosed SFR in a great school district listed for $65k. Two bedroom one bath. The house needs a good amount of work probably $8,000. When rented we could probably get $1100/month with a cash flow of about $460/month. A comparable home sold in the same area for $45k not long ago. Cash out of pocket would be around $18k. My debate is with the same out of pocket expense do I go for the guaranteed cash flow in the duplex or roll the dice, fix up the forclosure to get a higher cash flow and have a better chance at an increased home value? Both investments I'd plan to buy and hold. Thanks, Dan