All Forum Posts by: Jake Kozul

Thanks Travis...exactly what I was looking for.

I am considering an 8 unit building, and given the all of the trash created naturally, and the nature of it being located directly across from a liberal arts school, I am picking up that bill. Long story short, I can buy a 12 yard dumpster for cheap...however, I have not priced out how much it would cost to have it hauled away, or what it would entail. If anyone has any experience in this area, please do let me know. 

Thanks,

Jake

This is the oddest questions I have asked on this forum, but has anyone put in a clause in their rental agreements pertaining to bed bugs? I was considering getting an inspection of the unit to confirm there are none at move in, and any infestation is the responsibility of the tenant. Thoughts?

I am looking at a couple investment properties, in a very busy vacation lake town here in Michigan, to be used as a vacation rental home. I have a good feel for the rents, have the marketing in place myself from what I use on my other properties, the city is a place that I am close to so can have my existing infrastructure reach quite easily, and am comfortable/familiar with the market. The city doesn't have any crazy restrictions either. For those that have delved into this strategy before, are there any other barriers I need to account for before pulling the trigger? 

Thanks in advance

I have a good problem, in that I have about a dozen extra tenants from a couple units I have marketed, that I will have completely screened, that I don't have places for. Has anyone else run into this issue, and if so, is there a way you approached monetizing them through referral fees or other means?

Thanks

Thanks for clearing that up...I had read something that implied that I could take over a home by paying the taxes, but I clearly didn't fully understand it. Looks like I will be knocking on a door and sending a letter. 

In going through homes last week, I noticed a home I saw a couple years ago looking distressed and abandoned. I looked it up with the country, and the taxes are about to be 3 years behind...and going into foreclosure in April. About 12k is what it will cost, but the home is certainly worth it. What can I do in terms of paying the taxes and getting right to the property? (I am in Michigan). Any advice from someone who has executed this would be appreciated. 

I just went through the same scenario...but the timing worked for me. The piece of info I can offer from the mortgage lending perspective is that your documents and credit report and are typically only good for 90 days from the time of submission, so if you submitted for a pre qualification 14 days before you are under contract, then you have 76 days those documents would be valid, and if you're approval has expired, then you can use the contingency of getting out of the contract due to denial of financing. You would want to inform your lender about your strategy (every lender has different guidelines and procedures, so make sure it is doable), but I've seen scenarios where that has been used as an out on the lending side (and worked). 

I have a good friend of mine who is looking for end financing for his newly constructed house. I am in mortgage lending, and have a few programs that may fit, however, I know there are programs around the country that I don't have access to working for a large banking institution. Please feel free to let me know some of the basic guidelines (LTV, credit score, amortization, fixed/adjustable, pricing). He has a very strong profile (high credit, income, assets). I'm curious to see what is available outside of West Michigan.

Does anyone know of a good marketplace or medium to use to sell a land contract? I hold an LC note, owes about $28,000, 3 year balloon payment...6% rate. Any advice would be helpful.