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All Forum Posts by: Jeffrey Edwards

Jeffrey Edwards has started 2 posts and replied 143 times.

Post: Tips finding a lender?

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

I like to call all the local banks and credit unions and see what they can offer.  I also network with other investors and see who they are using and have had good/easy experiences with. 

Post: Is it fair for seller to pay buyer $6k in closing cost?

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

If I were personally looking at this situation, I would offer one or the other but not both.

Post: Murphy's Law on First Flip

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

Nice job!  I like the exterior paint color.

Post: Make first BRRRR investment now or wait

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

No one can predict what is going to happen in the future.  If the numbers work for you now and everything else meets your criteria, then why not? 

Post: Due Dilligence Question

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

Well depending on what type of property it could involve a multitude of different things.  The most common being a home inspection.  If you're working with an agent, they should be able to shed more light on this.  

Post: Partnership structure question

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

I think you should speak with a CPA who has extensive knowledge of real estate.  They can lead you in the right direction. 

Post: Tenant Relationships During Covid

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

Well depending on if there is an eviction moratorium still in place or not, you'll have to consider that.  I would just send her a 30 day notice and let her know you won't be renewing her lease and hopefully she will leave on her own.  If she doesn't, you're gonna have to bite the bullet and wait to get a better, qualified tenant. 

Post: New to Investing, Need advice

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

See if there is a local REI meetup and start attending those and networking/meeting new people!

Post: Seller financing tips

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

It's going to matter on a few different factors.  How much equity the owner has, if they have a current mortgage, motivation, etc.  I would just make sure I ask these questions up front before mentioning anything about seller financing.

Post: How to start real estate investing

Jeffrey Edwards
Posted
  • Real Estate Broker
  • West Bloomfield, MI
  • Posts 147
  • Votes 77

Networking and education are the two best and cheapest methods!