All Forum Posts by: Loren Souers

@Joseph Firmin good suggestions. I do plan to replace the nasty screen doors with new white ones. I was also thinking of paint the corners of the house to look like quoins.

https://www.haddonstone.com/en-us/wp-content/uploads/sites/14/2019/01/Surface_Fixed_Quoin-TLQ120-A.jpg

@Brian Fiorillo I used Kite Decorating and Painting. Terry Kite is an older gentlemen but his company did a great job for a reasonable price. I am friends with the guy who owns Douglas and Sons paint downtown. Kite was a recommendation from him in addition to the good pricing. Had me scheduled and completed within about a month. Tell him Loren sent ya.

What type of investing are you doing?

Hi all!

I am looking for advice. I recently had my duplex painted. It really needed it. It turned out a bit more purple than I had. #failforward. LOL

Anyway, originally, I was going to add wood shutters to each of the windows but I have a total of 16 windows and this would prove to be very expensive and or labor-intensive for the return on my money. 

Can anyone help me with some accent or trim idea? I want to keep it simple but make the place look nice for a potential refinance.   

Thanks in advance. 

Keywords: design, kalamazoo, Michigan, duplex, exterior, renovation, paint, accents 

Joe S. Yes, they would cashflow very nicely and the buy in is very low. These properties are listed at $60K. I guess 

I need to take a look at each property independently but I certainly do no want to miss out on a cashcow bc of a "bad neighborhood. 

Hi all,

I currently own a class B/C duplex which I have been managing myself for about 4 years. I really want to amp up my investments and have found a couple 1-4 multifamily units in a neighboring city but they are on the the rough side of town. They both seem to cashflow well and are cheap enough to put the 20% down needed. 

I would love opinions on investing in a rough part of town to get things going and receive some cashflow. I would plan to have these managed by a third party as to stay as hands-off a possible. 

I do see what you're saying but we are going to have to agree to disagree. As you probably know, any contract is assignable unless specifically outlined not permitting the assignment. You are correct that one cannot sell real estate without a license but a wholesaler is not selling the property but instead is reassigning the contract for a fee. This may sound like a loophole and it totally is because when assigning a contract, one does not "collect or receive a fee, compensation, or valuable consideration, sell or offer for sale, buy or offer to buy, provide or offer to provide market analyses of, list or offer or attempts to list, or negotiate the purchase, sale, or exchange of real estate". 

I would love to hear from someone who is doing a lot of #wholesaling in Michigan and get their thoughts too. I have heard more this is legal than it is not. 

@Joshua 

@Joshua B. Thanks for the advice. I was under the impression that wholesaling is legal in Michigan and am pretty sure of it but net listings are not legal. I am a licensed agent in MI so would be protected there on anything regarding that. I think by performing a double close, one would sidestep any of the net listing problems if wholesaling is in fact legal. 

Hi! I am new to Wholesaling and looking for the agreements to for me and the seller and me and the buyer. I am in Michigan.

Thanks in advance.