All Forum Posts by: Joe Doman

Congrats! And thanks for sharing... I have been looking in similar areas for my 3rd property.

I hesitated to ask if this it was legal (glad I did… I figured it was regularly practiced).

It’s interesting though. As a real estate agent, I assume you can legally hire someone to market to clients. Say you hire someone to mail letter out to attract clients (maybe to distressed owners… similar to wholesaling). In essence, the agent is “paying for referrals” from his/her employee… Maybe it crosses the legal line when an investor has potential interest in a property.

Hello, new(ish) investor here,

If I am working with a potential seller for a buy and hold property and cannot agree on a price, could I refer them to a real estate agent? If they close on the deal with the agent, could I collect a fee?? –assuming the seller does not already have an agent.

Do people do this? What is a typical fee you can charge? –is it legal/ethical?

Thanks for the replies! It seems like timing is huge where I am... I got a ton of interest (4-6 emails a day) when I had a vacancy to fill in  June. I haven't gotten any interest yet for October. Maybe it is a little early to say as we are over a month away... If it continues this way I might lower the rent a bit

I have a tenant requesting to set up autopay and was thinkin about using cozyco. It is free and seems to be pretty user friendly to set up

I might be a little paranoid but with all the cyber attacks out there, is it safe?? Who is liable if the tenant's money is stolen? Seems like the risk could be potentially high.. Maybe someone could shed some light on this??

I recently found out that my tenants of 3 years will be moving out in October (hate to see them go) which seems to be of a rough month to find tenants as families are already settled in for the school year and it is getting colder etc... my plan is  to negotiate a term with the next tenants to push the ending date out to a more renter friendly month. Anyone have suggestions on the most active month for renters? 

I'm in the canton/plymouth mi market, top notch school systems, maybe mid summer to catch young families?

Appreciate any advice...

I downloaded and listened to the10x rule (one of grants books) from what I got out of it, if you have the systems, and resources in place, it takes relatively the same effort to buy one sfr house as it take to buy an apartment complex. Its a decent book/audio, The dude is pretty intense when it comes to just about everything he does in life... pretty motivating stuff.

 Shoot, the demo is just about done if youre a flipper... I actually live in the same neighborhood as this place (3 minute walk) -that's why it caught my eye. It's a nice area... so if your wife talks you into it, I will have to come by and welcome you ;)

Do you do a lot of "live in flips"??

Hey all, 

I just stumbled upon this "gem" on zillow and figured I would share. Looks like the tenants absolutely trashed the place.  Goes to show you having a good screening process and collecting a solid security deposit goes along way. (There are some crazy people out there)

41822 Winter Ct, Canton, MI 48187
For Sale: $137,500
Beds: 3, Baths: 2.0, Sqft: 1,738
Single Family
http://www.zillow.com/homedetails/88696689_zpid/

Southeast michigan se mi Plymouth

I found that canton is a decent place for good quality tenants. Small families come from far distances because of the school systems. It is in a convenient spot in between Ann Arbor and Detroit. I had younger couples where one spouse worked at U of M (Ann arbor) and the other at Ford (Dearborn). I bought a duplex in Canton about 3 years ago and still have the same tenants. Prices have come up a bit though (like many other places in se mi)