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All Forum Posts by: Joe Semifero

Joe Semifero has started 5 posts and replied 84 times.

Post: Hello All... Aspiring REI from MI New to BP and loving it!

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30
Originally posted by @Account Closed:

My suggestion is to move forward with getting your license. Bigger Pockets is a great place for advice. Getting your license will open up so many doors and give you an understanding of the business. Then, If you decide to get into wholesaling you can. 

 Maria - Do you have any suggestions for a broker that is good for RE investor to work for? 

Thanks!

Joe

Post: Getting My Michigan RE License

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30
Originally posted by @Account Closed:

I'm with auction.com and hang my license there.  It's not a commission based position but it still required me to hang my license with them.

@ Nick Keesee - How does that work? Are you saying that auction.com is your broker that you work under as an agent? If so, what did you need to do to have that position? 

Thanks, 

Joe

Post: Michigan / Detroit Area Eviction - Business to Remove Contents?

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30

I have a tenant who I may need to evict. I have gone through the entire process up until the filing of the Writ of Restitution and having the sheriff contact them to vacate. My worry is the tenant will not vacate and we will need to get everything out of the home. 

Does anyone have experience in the 34th District Court (Romulus area) and what is the practices? 

 - Does the sheriff remove the contents or have people to do that? 
- If I have to remove the contents (or have the contents removed), does anyone have suggestions for a company that would do this? 
- Any suggestions on where to go to rent a dumpster, assuming I would need to get one?

Appreciate any thoughts and comments on these questions. I am really hoping they either pay the rent or move, but I am not confident that will happen. Thanks for any feedback. 

Joe

Post: Hard Money Help in Michigan

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30

Someone posted on BP before that Flagstar will write loans after the first 4. You may want to check with them.

Also, have you tried Richard Corns? He's on BP indicates on his profile / site they lend up to 24 months.  

https://www.biggerpockets.com/users/RACCKC

http://cogocapital.com/broker/empire

(I have no connection outside of BP to Richard and haven't done business with him - just saw his profile, so this isn't a recommendation or anything.) 

Joe

Post: Southeast Michigan tenant 2 months past due (advice please)

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30

In the past, I have given the tenant the benefit of a doubt and allowed them some time to get current. I generally do not allow it to go past two to three weeks, but again, I am willing to work with them if they communicate and it's cordial. That being said, you're past that point. 

Remember - sending the letter, filing, even getting a judgment doesn't obligate you to evict the tenant, and they can get current at any time by paying what they owe. Keep VERY good track of EVERY expense - postage, envelopes, mileage to and from post office and court, etc. I can send you a tracking spreadsheet I developed to help me make sure I am keeping all costs in front of me. 

For the notice, make a copy of the form you send, take it to the post office, and get a Certificate of Mailing. It costs $1.35 or something and shows you mailed the letter. Sign the second page and keep the receipts, etc. send a 7 day notice for late rent, 30 day notice for lease issues. 

I just talked to the local court here, the 34th District Court in Romulus. (You should call your court as the practices are sometimes different.) They said the notice is considered delivered the day it is mailed, but you have to give at least 8 FULL days before filing for a judgment. So, if you mail tomorrow (the 11th), you could file for judgment on the 19th. (7 days to the 18th, plus one day to allow for 7 FULL days.) Typically the court allows some set amount of time to notify the tenant. In Romulus, it's two weeks minimum and Landlord Tenant cases are on Thursday. So, if you file on Thursday, the court date is typically in two weeks. If you file on Friday, it's two weeks and six days. You'll need envelopes, stamps, and multiple copies of the lease to attach to the complaint, and you'll probably want to pay the court officer to serve the papers. (I've been told you cannot do it yourself.) Get the forms at the court - they usually cost a dollar or two but they will be correct and have copies attached. Then you wait until the court date. 

Go to the court on the date. If the tenant doesn't show up, you basically fill out the paperwork and get a default judgment. If they do show up, you can try to work something out with them or go in and see the judge. IMPORTANT - if your rental is in an LLC, you cannot talk to the judge yourself, and you must have an attorney. I think it has to do with the LLC being its own entity and you not able to represent the entity (unless you're a lawyer). I've gone four times and never had the tenant show up, so I've never had to go before the judge.

You can do all of this stuff yourself. I have used an attorney so I could see the process one time, and then I just used the forms filed as a template and did it myself. Lawyers in my area generally handle evictions, beginning to end, for about $250 plus filing fees, assuming it doesn't get complicated. That decision is yours. 

Once you have a judgment, you have to wait 10 days that the tenant gets to pay the rent. They have to pay you everything due, not just part of the rent, but if you accept partial payment it could reset some things. (There are check boxes for this on the forms.) After the 10 days, you can file for eviction. I have never gotten to this point - the tenant has always paid or moved out by this point. Can't give you any advice on going forward. 

Obviously, I'm not a lawyer, but this is the general process. Like I said, if you have the time, can get to court, etc., you can probably do it yourself. Google "eviction michigan" and there are lots of references. If you don't want to do it yourself or can't there are plenty of lawyers around, and their advice would obviously be more valuable than mine. I'd suggest getting a lawyer close to the court that you use as it minimizes travel time and costs that the lawyer might charge you. Hopefully the tenant leaves without you having to go to actually hauling out their stuff. 

If I missed something here or you have a question let me know and I can try to answer it. 

Post: Cheapest way to collect rent by debit card/credit card? Help!

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30
We use eRentPayment.com. It was pretty easy to set up and costs $3 for ACH. You can also have the tenant pay the fee if you want. No cost if you don't use it he service. If they have a debit card, they have a bank account, so they should be able to pay this way. You can set up recurring payments, also. Joe

Post: Investor from Michigan

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30

@Stephen Morris,

What are some of the better property managers you have dealt with? 

Joe

Post: New investor in metro detroit

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30

@Matthew Harrison

Hi, Matt - welcome to BP!

I live in Dexter and invest in western Wayne County. Livonia is an area I was thinking of looking at in the near future. Congratulations on moving forward after ten years and good luck!

Joe

Post: Looking for Private Lending In Southeast Michigan

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30
Originally posted by @George P.:

flagstar offers 5-10 loans, dont jump into private money yet.

What do you mean by Flagstar offering 5-10 loans? Are you saying they will offer mortgages on the 5th through 10th properties which you have in your name? 

Thanks, 

Joe

Post: Seeking Great Home owners Insurance

Joe SemiferoPosted
  • Engineer / Program Manager / RE Investor
  • Dexter, MI
  • Posts 86
  • Votes 30

We go to Jake Hunt at State Farm in Belleville for all of our units. 

8380 Belleville Rd, Belleville, MI 48111
(734) 697-0773