All Forum Posts by: Mike Johnson

Thanks for the responses everyone!  Jeff Rabinowitz and Clay Powell, I would appreciate any legal contacts/referrals you have.  

For clarification, we have already met with the local tax board.  The properties in question are three quadplexes.  Based on our calculations of the income approach appraisal and the local cap rate we're expecting appraised value to be about 40k lower than what it is currently (combined across all three properties).  We were admittedly unprepared for our meeting with the local tax board and I'm sure that's part of the reason they didn't budge.  

Has anyone else had issues getting details of their appraisal? We've only been able to get cap rate and GRM assumptions.

Hey everyone,

My partners and I are currently considering filing an appeal to the Michigan Tax Tribunal to review our property taxes.  We met with the local tax board a couple months ago and they were unwilling to budge.  I was curious if anyone had any experience with this process and any tips.  Specific questions we had are as follows:

- The local tax board in Grand Ledge, MI is being very uncooperative in providing us the details of the appraisal, namely the assumptions and calculations used.  Is this normal? We're considering filing a FOIA to obtain the information but that seems excessive.

- Have others had success with the tribunal and if so, was it substantial?  

- Ideas for questions to ask our lawyer prior to filing the appeal.

Thanks in advance for any feedback.  We purchased the properties in September of last year so this is our first "rodeo" with the process.

Will do!

Hello,

I'm looking for a real estate savy CPA in the Lansing, MI area and was wondering if anyone has any recommendations?  Hoping to hire someone for both individual 2015 preparation and tax planning.

Thanks in advance!

I'm currently in need of an investor-friendly realtor in the Greater Lansing, MI area.  Our organization is interested in any multi-family properties in the area, notably in the surrounding areas (Holt, Mason, Grand Ledge, Haslett, Dewitt).  We recently closed on 12 units in Grand Ledge but our realtor on that deal has gone MIA.

Thanks!

Thanks for the warm welcome and tips everyone!  Looking forward to growing my business with all of you!  

Hey everyone!

I'm a new investor from Lansing, Michigan interested in long-term rentals to create passive income.  My partners and I have been listening to the podcasts and reading the forums as we prepare for our first deal.  We're very excited to be apart of the biggerpockets family!