All Forum Posts by: Michael E.

 

Oh, well in that case, if you told that agent you wanted cash flow and that's what they brought you then yeah, look for a new agent.

Best of Luck

You didn't say how much you were calculating the expenses at (5%, 7%, etc.) but it sounds like your close enough to make it cash flow if you can control/lower the expenses. Also, you didn't say whether you're using current rent or market rate. Is there any chance you could raise the rents to make it cash flow? Or a combo of both?

Edit: Also, if you want to test the agent you could look for (and run the numbers on) places that meet your requirements but that the agent didn't send you. If the cash flow on those is even worse, it might be that you are not in a good cash flow market.

90 Day Challenge Update:

My RockStar agent is writing up an offer as I type. Fingers crossed.

Hello other BP members,

I live in Saginaw but I just started my Bigger Pockets journey so this is just my 2¢. There are defiantly opportunities in Saginaw if you buy in the right neighborhood. For you out of state people, you want to be west of the river. Appreciation will be hard to find in the 48602 zip but the further west, the better the chances. If you are looking to capitalize on college students you want to be north of the city limits, you might want to also look at southern Bay city or eastern Midland. 

Hope that helps.

After a few hours on the BP website, a few messages and a 30 minute phone call later, I now have the agent that will be the first member of my team. Thanks Bigger Pockets team! Special shout out to David Greene!

Step 1: Take action

Step 2: Do it again tomorrow

P.S. David, I hope you point out to Brandon that this is a 90 challenge post but the shout out is to you.

This is a good place to start when you have questions but I must admit I have not read the entire thing.

https://www.michigan.gov/docum...

There is also a HUD addendum for pets so maybe that could give you an ideal. Again, I have not read it.

https://www.michigan.gov/docum...

Hi Jonny,

This is my just 2¢ so take it or leave it, but... 

Properties are declared condemned for safety reasons. If you can address the issues that are the reason they want to condemn it then you could prevent or reverse the decision. Depending on the issue you may be able to do it yourself. Your biggest obstacle in doing that would be if the work needed was required to be preformed by a licensed professional. For example if the problem is with the wiring, you would almost certainly need to hire an electrician to do the work and then certify to whomever that it is now safe. A friend of my did this with the house he now lives in. It was condemned when he bought it and then my friend and his dad started working on the issues. When they were done they made an appointment the county building inspector, who approved their work. After all of the paperwork was filed and approved, he was able to move in. In case you're wondering, it was a problem with the foundation. They hired a structural engineer (not nearly as expensive as you think) and he told them what needed to be fixed and more importantly, how it needed to be fixed. They did everything exactly as he said.  

Good luck to you!