All Forum Posts by: Joel Mayer

I am currently looking for my first home to flip but I am not having much luck looking for properties and finding good deals.

I am looking for a real estate agent that can offer guidance on purchasing a flip property in the Livingston County and Washtenaw County area.

If you or someone you know can help I would greatly appreciate it. 

Thank you in advance.

I think I still do want to merge them. The parcel I am buying is not of value to anyone other than myself as it cannot be built on as it is now due to not being large enough. If I add this to my primary residence I am hoping that it will increase the value of my property.

I am planning to purchase a parcel the is adjacent to my primary residence in Michigan. I am drafting a grant deed to be signed but, I am not sure what other forms I need to submit to make sure everything is ok. I have spoke to someone at the city hall and they seemed to think I needed a Property Transfer Affadavit and a Principal Residence Exemption Affidavit.

I am just unsure if there are other forms I should be filling out also to make sure that everything is squared away.

How would I go about making the parcel part of my primary residence so that it doesn't get taxed separately and just gets added to my land instead?

I would use a title company normally, but because it is such an insignificant amount I plan to spend I would rather not pay a larger fee to a title company to do something that I could with a little research.

Thank you both for the input. Would it matter that the plot I am purchasing isn't build able on its own and has nothing built on it? I would like to simply include it in the acreage of my home to extend what I already own.

Could you explain what you mean about the title becoming clouded @j Beard?

I am trying to purchase a lot adjacent to the property that I currently own. The seller wants only $1000 and for me to take responsibility for the taxes and HOA fees that he hasn't paid. I think I want to do a quit claim deed to keep it easy but the owner and his son own the property jointly. I know his son now lives across the country. How can I do a quit claim if I cannot have both owners present?

So I am still working on finding my first investment but I am wondering how the best way to start the second investment would work. For my first deal I am looking for a live in duplex or similar multifamily setup for around $250k or less. I just want to make sure I fully understand the process of starting a second investment after that. Would it be wise to take out an equity loan on the first investment and use that for a down payment on another property? Or would I be limited because of financing based on my income to debt ratio? Would I have to find another method of financing the second deal like hard money or private funding?

What I would really like to do is buy, rehab and then sell. I would like to stick with traditional bank methods for my first few flips to build reputation and experience before seeking money through private investors. 

My question I guess would be, what type of loans are best for a first flip for someone who does not have a large amount of capitol to begin with.

I have been studying up on different ways to fund a flip with conventional methods and I am having a hard time really figuring out the best way to fund my very first flip. 

I do not have enough money to put down a large down payment and I do not have the money to sink into the renovation without some sort of financing. What would be a good course of action to fund my flip through traditional banking and or hard money loans In today's market? I want to make a living doing this but I like to exhaust my research before jumping into it.

Hi everyone, 

I have been researching for a while now and I am hoping to start flipping homes in the Ann Arbor, Michigan area. I am hoping to get some experience working with other investors in the area before I plunge head on by myself. I just wanted to put myself out there and see what kind of response I get from the area.