All Forum Posts by: Mubasher Riaz

I own a land contract property with balance left of $40K however my landlord said if I can pay $30K cash up front, the property can be mine, so I called my title company to ask as far as closing protocol on the house, she said besides the $16 for registering to the county under my name, there is something called real estate transfer tax credit which is around $1118.00, so after mentioning this to my landlord he told me I have to pay that amount not him, and he backed out from the initial 30K deal, so I wanted to ask BP community if there is a way around this real estate transfer tax game, what can be done? I am ready to buy it out for 30K just do not want to pay this fee associated with it. Thank you.

can someone please tell me what this means invalid sale when i look up a property? Thank you

I was wondering if there is a website like Trulia or Zillow for commercial retail spaces for lease in my area, I'm interesting in starting a business however need a good location. Any suggestions?

As with all homeowners out there I was always curious as to how much did it cost to build my house and how much profit the builders make? I bought it for $130 K it's a single floor w/basement. Any ideas?

Im interested in purchasing a specific franchise however it's too expensive to open one, instead it's cheaper if you buy it off an existing franchisee. I was able to look up the property information on my county assessor website, however it does not provide the business owners home address anywhere. What is a good method of tracking them down so I can send them some yellow letters? thanks!

Came across a vacant house, tracked the owners down and called her today, she said she hasn't lived there for 5 years now, talk to the bank and when I asked her which bank, she didn't tell me. How can I find out which bank the property belongs to? Thanks

Heres the real estate deal:

Property is hour an half drive from where I live in Michigan

All in for $16K, re sell on land contract for $25K

Buyer agrees on putting down $1200 and paying $500 a month until the end of this year and next year will pay $3000 from tax return on top of $500 a month rent which gives me a cash on cash return of about 78%. All utilities, repairs, taxes, insurance, maintenance covered by buyer.

Called my mentor, he told me don't do it.

What do you guys think about this now? Deal or no deal

Im closing on a property that needs extensive rehab, neighborhood is alright not the greatest so Im fearful of getting vandalized and such, Are there any insurances that cover such thing? Thanks

Any landlords from Michigan especially Ypsilanti/Ann Arbor area that can help me get a range on what there insurance is monthly?

I am in the process of buying my first rental property in Ypsilanti, Michigan and after putting in my offers, if one of them do go through I will be hitting 40% annual return and this is a 3 bedroom with $1100 rent, tenant pays utilities, I take care of repairs, insurance and property taxes. How is everyone else doing as far as returns annually? Thanks