All Forum Posts by: Joshua B.

 I'd have to disagree. The statute is incredibly widely written and, in my opinion, ropes in wholesalers as well. Here it is:

Article 25 defines a real estate broker as an individual or an entity,
who with intent to collect or receive a fee, compensation, or valuable
consideration, sells or offers for sale, buys or offers to buy, provides
or offers to provide market analyses, lists or offers or attempts to
list, or negotiates the purchase or sale or exchange or mortgage of real
estate, or negotiates for the construction of a building on real
estate; who leases or offers or rents or offers for rent real estate or
the improvements on the real estate for others, as a whole or partial
vocation; who engages in property management as a whole or partial
vocation; who sells or offers for sale, buys or offers to buy, leases or
offers to lease, or negotiates the purchase or sale or exchange of a
business, business opportunity, or the goodwill of an existing business
for others; or who, as owner or otherwise, engages in the sale of real
estate as a principal vocation.

It’s not that courts literally assign a will. I mean that in a practical sense - i.e. each state has its own laws regarding what will happen to your property when you die should you fail to make that decision. So, you’d better make a decision or they’ll make it for you. 

As with any real estate deal, there are a lot of factors. One of the main factors is location. Cap rates vary significantly depending on where the building is. I sold a run down 4 unit in Ann Arbor for $550k. Put that same property in Inkster and I'm not sure it sells for more than $100k. I assume the quad is in Howell?

 Death intestate means you get the will assigned to you by the state you live in. Most likely gonna need a probate attorney if there are any assets. Assuming a simple family structure, high probability that the decedent's children will split the assets of the estate.

 @Scott Matthew C. "powerhouse" is very kind but my fees aren't that high haha

 Second this. They're reasonably priced and solid. Maybe not the cheapest around, but are dependable and fast. Lots of crews.

In my experience (speaking in generalizations here), most 1-3 unit buildings will be on the MLS. 4 units buildings are usually on the MLS too, but trade by word of mouth a bit more often than 1-3 unit buildings. 5-9 unit buildings usually pass between people who know each other and who are local. 10+ buildings usually get listed with apartment brokers and are very competitive. It's quite hard to track down 4-9 unit building deals since (i) there aren't that many of them, (ii) usually owned by smaller groups of people who tend to know each other (i.e. a handful of landlords in each area who know to call each other if they want to sell), and (iii) get sold without much, if any, publicity.

Good luck! No one will be able to show you 1 way to find 50 of those deals, but they will be able to show you 50 ways to find 1 deal!

 talk to @Sarah Lorenz

 The Rivian facility is in Plymouth Michigan not Detroit. 

 I haven’t yet but I’m open to it.