All Forum Posts by: Richard Ball

@Account Closed Hello! Based on this single line "I could sell the house but it is sentimental in many ways." you should sell. What you will find out is people will not treat your house as good as you do and your emotional attachment to this home is going to drain you and probably ruin friendships along the way. Also, if you really do have an attachment to this house wouldn't you want another family to own the home? They would put the love and attention it needs into it and make great memories with there family so they can have the same feelings towards it that you do. If you want to invest in real estate you can take any gains from this house and put it into a new one. The market has gone up in the last 2 years, PM me and I can give you an idea of what it would be worth now. 

Welcome to BP!

If you want to PM me the address I can run some comps.

@Brad Carrier Also not sure who your Realtor is but if you are buying an investment I recommend having an agent that owns a couple rentals. Same thing goes with your accountant, PM, contractor and anything else that you find you need in this business. PM is a facet of an investor but it is a different job then finding a good investment property. 

@Brad Carrier I assume you are talking about the house on Erie. Your rental number is low, you should be able to get 750 for a 3 bedroom in that area especially if you do work on it. I haven't seen the house but it says it has a new roof, windows and a heating system so unless the floors are uneven or the photos are misleading (very possible) you should be able to get away with paint, tenant proof flooring (laminate) a new kitchen counter top (cabinets look decent in the photos), kitchen and bathroom faucets, light fixtures, door handles and an upgraded stove and refrigerator bringing your total cost to no more then $7,500.

Hello @Renee Bacon, I didn't realize there were others from St Clair :D

Welcome @Jarred Ross!!!

How many years of back taxes do you owe? I don't think getting more debt to pay debt makes any sense especially when the debt you are talking about comes with high interest. You state you have never received a mortgage, do you own this home free and clear so all you have to pay is taxes, insurance and maintenance? 

@Brandon Ames How did you do?

@Kevin Freeman Hello Kevin! Welcome to BP! If you have any questions or need help with the Port Huron rental don't hesitate to reach out.