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All Forum Posts by: Jeff Lubeski

Jeff Lubeski has started 9 posts and replied 60 times.

Post: Newbie in Detroit, MI

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6
Welcome to the site. I've been investing for a couple of years in metro Detroit. I'd be glad to help any way I can.

Post: Brand spankin new member from West Bloomfield, MI

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

Welcome @Mike F.
I also am in the metro-Detroit area.

Post: My newbie mistake: error on HUD-1 settlement statement discovered 1 mo after closing - any chance of going back?

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

I would think if it is in the signed PA and not paid properly at closing, then the Title Company is responsible to resolve this.

I recently had an issue where I was charged for prorated taxes and because of errors in the documents, the prorated tax funds were given to the seller. The taxes were not paid. I discovered it several months later when I could not get a CO due to unpaid taxes. I went back to the Title Company and pointed out the error. They saw the error and within 24 hours they sent the tax payment including late fees to the city and they went back to the seller to get this portion of the funds back.

Post: Where to Start in Multi-Family Investing

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

@Jeff Greenberg. I think my goals and mindset are aligned with your post. There are always things that come up even with SFH that push my comfort level. I am looking to get into something large enough to afford professional management and onsite personnel. Recognizing it will take some skill to accomplish that, my original posting is how best to start developing that skill. I think your suggestion of teaming up uwith anther MF investor is probably optimal if I can find one.

Post: Where to Start in Multi-Family Investing

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

I have a few SFH rentals currently and have been investing for a couple of years. I would like to move to larger multi-family units (20+ units). I am lacking in the knowledge to invest in these larger size housing units. Where is a good place to start gaining knowledge to make the transition? Books, classes, etc?

Post: January 2014 Metro Detroit BP Meetup

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

@Aaron Yates I am new to the forum and it would be great to join you at the next local BP meeting. Either of the Fridays should work for me. My preference for location would be the Livonia Bahama Breeze. I am going to do my best to make it to what ever location or day is decided.

Post: Wholesaling in Metro Detroit

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

@Marques Barton

I am new to this group but have done a couple deals. This seems like a great group to get advice. Welcome.

Post: Newbie from Metro Detroit Michigan

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

@Carson M.

From a renting perspective, I have been happy with my investment in Hazel Park. I was able to get the house rented out within 2 weeks of fixing it up. The house is 4 bedroom, 2 baths, however the rooms are small. There is no basement and a 1 car garage. It is toward the NW corner of HP, so near Madison Heights. So far, I cannot complain about the renters. It is 3 people in their mid-20's sharing the rent and they pay on time. It seems like some of the northern HP renters are those that want to be close to Madison Heights or Royal Oak at a slightly lower cost.

The negatives for me is location relative to where I live. Also, for whatever reason I was a bit lax in my initial assessment on the amount of work needed at this house, so that went well over budget.

If the area can stay stable, it should be a good invement. I have about $50k into the property and am renting it for about $1000 per month.

Post: Newbie from Metro Detroit Michigan

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

I live in Livingston county and have a couple of properties there. I also have a rental in Westland and one in Hazel Park. I've done a couple of fix-and-flips in Livingston county too. I like livingston county and my holds may end up good in the long run. The income vs investment is not as good as many other areas in metro-Detroit. I guess that is why I've got a couple of houses in other areas. Still trying to pinpoint the best holdings for me.

Post: Newbie from Metro Detroit Michigan

Jeff Lubeski
Pro Member
Posted
  • Investor
  • Hartland, MI
  • Posts 60
  • Votes 6

Hi,
I just joined and wanted to take a minute to indroduce myself. I am still relatively new to REI, getting started a little over 2 years ago. I've done a couple of flips and currently have 4 SF rentals. My goal is to continue acquiring rental units, perhaps looking outside of SF residences, to provide diversity, an added layer of financial security to get out of my day job.
I am married, with 3 kids. I enjoy running, cycling, boating, and hunting. I am always looking to learn something new and hope to do so with all the resources here.