All Forum Posts by: Account Closed

 HI Maria! I look forward to it! Feel free to email me [email protected]

We've done the cash for keys thing a few times (while eviction is processing of course), but it never panned out, always went to bailiff removal.

Have any of you had someone you paid come back and damage the home after they've been paid?

Welcome @Kyle Manduch! How do you feel about branching into Garden City?

I work in the Detroit market (no not the surrounding areas, actually in Detroit), and cash for keys always seems like a 50/50 shot.  Just wondering what other landlord/property managers have experienced with it.  

Whats your opinion on cash for keys? 

Has it worked for you/backfired? 

How did you proceed with it?

 Hi Jeff! Thanks for the tip!

 Thanks! I spent so much time yesterday looking through forums and such. Very interesting take on things!

The real estate investing program I am affiliated with works with wholesalers in the Detroit area who provide us with mass amounts of income properties primarily in Detroit. We also have clients who are done with their investments, and want to sell them off to move onto bigger avenues. We have a range of properties from occupied/cash flowing, to empty and needing rehabs with projected ROI's around 7-10%. We just closed on a 33 pack of properties which include income properties and also suburban properties that can be flipped into residential/retail sales with the right investment.

Between acquiring our own houses that we have flipped/rented and clients who are done with their investments, we have an abundance of available income properties for sale. We are currently looking for brokers through out the world with clients interested in purchasing income properties. We have worked with brokers from the US, Belgium, Australia and beyond. We will work with individual clients looking to add multiple properties to their investment portfolios as well!  

Send me a message, lets talk about the possibilities and maybe even get you set up to buy/sell from our program!

Eviction/abandonment laws vary by state. To be completely safe, like others suggested, contact a local tenant/landlord law attorney. Also, for future tenants, check with your city water department. Here in Detroit, they have a water affidavit system.  This puts the water in the tenants name so that way it does not fall back onto the owner (sort of like gas and electric). When the tenant moves out, you submit the vacate affidavit with the final read and you're done! Other surrounding cities do not require a deposit, but still have a similar program. Might be worth looking into.  Be very careful when offering cash for keys, its not for every situation. Even if someone leaves peacefully with a little extra cash in hand, it may not stop them from coming back as the disgruntled almost evicted tenant and damage the property after they receive their reward.  Cash for keys is good if the tenant isn't aware you actually filed for an eviction, is just in a tough spot, acknowledges they can't pay, and are being reasonable. You know your tenant.  If you think he's dodging you because he's embarrassed, then C4K may at least entice him to talk to you. Good luck!

Hello! I am Julia and I have been in the real estate industry for about 4 years. I have worked my way up the ladder from building web sites, to working with the real estate broker, to administrative work in the property management side and now I am the general manager of the property management company. I have seen every aspect of how an income property package is put together (acquisition, ROI projections, and rehabs) processed (LLC creation, bank accounts, docs, closing), and life after the deal closes (insurance, management and re-sale). I know the risks and rewards in putting together the right deal! I'm becoming a licensed agent myself, but in the mean time I still work closely with the real estate broker assisting on various deals.