All Forum Posts by: Janann Chan

Thanks for the post Ramone. The management company clarified with me that I am paying the gas but not the electricity. They said "Detroit DTE Energy supplies the gas AND electric at properties." The bill for me is only gas. 

So will the usage of gas decrease as the weather become hotter?

Thanks all for the input

Thanks for the reply Saul and Richard. I got the leasing contract and No it's not stated in the leasing contract that I need to pay DTE. I am now trying to sort it out with the management company. I don't know why they let it happen and just deduct the amount from my rent every month.

I am just worrying if the management company is not trustworthy.

May I know if it's common for the landlord to pay the DTE for the tenants? When I get the house, I didn't need to pay, but then after 2-3 months, my rent was deducted for DTE which accounts for 2/5 to half of my rent. 

Could you shed me some light if it's the usual practice in Detroit? I never need to pay electricity for the tenants in other states/area/country, I think it's unreasonable. 

Many thanks.

I agree with Saul that it's really hard to manage the property in Detroit for out-of state investor. I bought a property in 2015 Aug and I would like to sell it now as it's hard for an out of state investor to manage the property.

Just wonder what I can do if I want to sell the property? Mind to share any trusted contact? 

P.S. Is there any penalty if I file the income tax late?

Many thanks for your reply. 

Many thanks ALL for your input. They do help me a lot. : )

I am a super newbie in REI and I guess I may neglect some of the cost. ;P

Would much appreciate if you have any suggestion on the location with budget under 85K for a decent, ready to move-in or turnkey house. What rental yield (%) should I look for in Orlando market?

Thanks so much! Have a nice day!

Dear BP friends,

With my limited budget and I would like to buy rental property in better location in Orlando, is it worth investing in condo in winter park? The HOA fee is quite high, but then the property price is lower which matches my budget. 7-8% rental yield is good? A decent home in winter park will be too pricey.

Is it easy to resale the condo in Orlando? Thanks in advance for your opinions.

Jan

Thanks Zaya, Mike and Matt for the reply. Much appreciated. The 2-units family home is the Mattetal street one.

Hi Friends in BP,

I am recommended to buy the following two properties in Detroit. I am not sure which one is better in terms of location. The price are similar with the second one a bit higher. Could you please give me some advice? Thanks so much!.  /Jan

1350x  Mettetal Street, Detroit, MI 48227 (Is this in Grandmont Rosedale?). This is single family home.

1800x  Greenlawn Street , MI 48221 (Bagley). This is two family home.

Thanks for sharing again Richard and Saul.

Hi Saul, mind to send me PM and let me know the agent that you used for the first two perperties? So I can avoid? What's your experience in Detroit?  Thanks

thanks a lot for the advice Richard. : ) . really appreciate your time.