All Forum Posts by: Nick Bendick

I took my real estate license exam a couple of weeks ago and now need to become affiliated with a broker. The reason I wanted the license is to purchase homes for myself. I am not looking to become an active real estate agent. I will need access to the MLS and support with the paperwork for the first couple of transactions. Anybody have any suggestions on which brokers in the metro detroit area to check out?

Add me to your list please - [email protected]. Thanks

You may want to check with a local independent agent, it may save you some time from having to call all around. They represent numerous companies and may have a company that is not as concerned with dogs in their underwriting rules. If you just do a google search with the term insurance agent and your zip code plenty should pop up.

interested. Send me a PM with addresses and some details. Thanks

You are going to be paying more for inurance when dealing with flips because of the increased risk exposure. However there are some companies that have a niche for this type of risk and will be more forgiving with price versus other companies. Foremost being one and I work with a couple of others. Scheduling usually will just offer organization for an investor. It may not work out if the homes are titled in different names or campanies or if other people have to be listed on the policy. If you want to PM I can help you further.

Does anyone in the Metro Detroit area have a good commercial real estate agent they could share? I am currently renting an office in Shelby Township and looking to purchase an office building in the same general area. Thanks!

For Detroit area investors, anybody invest in Mount Clemens for buy and hold? I was in the downtown area the other week and was surprised how active it was. It seems like there is a lot of inventory in that area also.

Welcome. I live in Macomb Township. What areas are focusing on?

40 homes - that is impressive. Do you have any in Detroit?

I would recommend having your tenants carry renters insurance for many reasons. The main one which has been discussed is for liability purposes. Another reason is if the tenants property is damaged as a result of something happening with the home - a pipe bursting as an example. If the tenants doesn't have renters insurance they are stuck with water damaged property. In most cases though the tenant will try to collect from someone which will end up being you. I am not saying they will be successful but it avoids a bad situation if they had renters insurance. I personally do not offer a credit to my tenants to incentivize them to carry it. Search online of horror stories of people not having renters insurance then share them with your tenants then I am sure they will see enough value of paying $10 - $20/month for coverage.