All Forum Posts by: Jack Gallow

Sorry I don’t check in here too much, I’ve had trouble ever since they updated the forums, it’s just a hassle. Every time I try to login I have to create a new account or reauthorize the email  to answer your question, after I posted this the state went into total lockdown, so I have not listed yet   I think the situation is deteriorating by the day for the market though

@Jae Green. I have been an investor in Kalamazoo for over 10 years. Those little 720 houses with two bedrooms, and 2 x 3 walls built in the 50s are pretty common. However your numbers make me nervous. If you paid $82,000, I would not invest another 50 or $60,000, you just will not get a return. Also be cautious about thinking you’re going to get a big return on finishing a basement. Unless there is legal egress, or it is a walkout, an appraiser will give you zero credit for it. It will not affect your value at all. For 60 grand, the only way to get a return, would be to add on on the main level and put a third bedroom and a second bathroom on the house

I have a flip that is about a week from being finished, and now I’m afraid I’m stuck with it. Are there still buyers writing offers? I am in western Michigan.   My fear is if I ride this out a few months, even if things go back to normal somewhat, the economy is deeply damaged and values will likely fall