All Forum Posts by: Greg Carrier

I have an opinion.  There are tons of houses out there and we pass or buy them based not only on numbers but gut feel as well.  If you are wondering about it.  I would pass on it.  That goes for all kinds of neighbors, like the ones who have a lot of trash around or always have 20 friends hanging out.  Or where the house is slightly different from the rest or sits on the lot a little differently  (tight corner lots for example.  I pass on them because some people would not be comfortable in the house and there are a lot of houses out there to pick from.

Good luck!

@Aaron Mazzrillo

Thanks for the reply.  I am thinking  I could blow my house with a gas water heater or gas stove as well.  They just have less resttictions.  My point was that lobbyists got together to control furnace installation.  That increase the costs of furnaces to everyone under the pretense of safety.  But as a buyer of old homes.  That safety standard is not reflected anywhere else in the house  (electrical, plumbing etc that can be done by any home owner).  So it makes no sense unless it is really designed to help the HVAC industry.

The system by which we buy and sell houses with the MLS is already obsolete. We do use two very good agents but it took a long time to work through others to get to them. It is a government sanctioned system which reduces competition and helps the people in the profession make better money (hence the general 6% commission). It does not protect buyers (though title companies do) and protects the realtors. I am not picking on realtors specifically. In Indiana I cannot buy a furnace unless I have a license although I can put in and out a hot water heater. I spent my working life as a CPA, which is also a licensed profession which protects CPA salaries more than clients and the investing public. Don't even get me started on inspectors. Holy crap what a scam that is. Enjoy the day! :)

Wow I buy houses at minimum all the time.  Just bought one in Laporte County this week!  And it is an occupied 2/1  that I am sure is worth more than the $3,200 I paid for it!  Everyone has their niche.  I like cheap stuff because I spread my risk and if I put all my money into two liens  (we occasionally buy some very expensive ones) and it redeems I just get my 5% which if okay but I do this to get houses, not interest.

Keep fishing like @Account Closed said that is high for $650 in rent.  Good Luck

Just an FYI, I do many small counties  (I have not done Jay tho) and I like them.  There are normally 20 people there and the list is short so you can really focus on what is there.  Different feel and strategy but I like it.  I will be going to Marshall County on the 20th and have done very well there although I only pick up a couple a year, they have all turned out very well.

I carry personal liability insurance and while we insure the houses we own now  (16 of them today but who knows how many next month).  Our rentals though which are valued at 50K for insurance purposes only run us about $360 a piece a year here in Indiana.  I anticipate self insuring once we get north of 30.  Like you I have the wherewithal to cover one of our houses burning down (or even a few) and like the corporations I worked for will have enough to spread the risk and self insure in the next year or so.  I know my agent will never understand that, but if your a hammer everything looks like a nail. 

David do you have anything near South Bend IN or Niles MI?

thanks

CPA

Brett,  I buy homes on tax sales both in Michigan and Indiana.  Including Berrien and other counties in SW Michigan.  I am looking at houses for the Laporte County Indiana sale today.  I would love to connect with you.  There are plenty of houses for both of us and I have walked a couple of other people through the process in Indiana so can probably guess at some of the questions you have and have a good (inexpensive) connection for quieting titles in SW Michigan if you need someone.

Good Luck