All Forum Posts by: Peter Dukaj

Any insight on any loan products for purchasing homes at auction?  I am aware of products once I own the property, but what about lines of credit to secure a winning bid?

Financing contingencies typically allow buyers to walk if the bank won’t lend at the contract price, making you entitled to a full deposit refund. Since the revaluation confirmed the lower appraisal, your financing clause should apply. Have your agent push the title company to release the deposit. If the seller refuses, a demand letter from an attorney can be effective. If that fails, consider filing a complaint with the Ohio Real Estate Commission or taking the matter to small claims court. You may also want legal review for future out-of-state deals.

Troy, Birmingham, and Royal Oak does not compare to vacant Detroit properties 

Has anyone installed a geothermal system in a new construction home? The current property is propane-only, and while natural gas is available, the cost to bring the line is around $40K–$50K. Looking for insights from those who have recently installed geothermal or thoughts on using propane, especially if you opted to bury the tank to keep it out of sight. Appreciate any advice!

With vacant land becoming increasingly scarce—especially in Southeast Michigan—could we see a rise in home teardowns within established subdivisions? While this trend is already common in downtown areas, will it start reshaping more traditional suburban neighborhoods as well?

Investment Info:

Single-family residence fix & flip investment.

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Thoughts on a new construction build with propane.  Natural gas is widely used in the area and can be brought to the property for roughly 40k.  

The property is located in an area with 1M dollar homes, but a single parcel (not in a neighborhood) and propane

If you had enough volume in Michigan it might be worth bringing some of these trades up. 

Who is doing the framing in Texas?

 I have seen some lots in  Lehigh Acres for 15-30k, are these buildable lots in decent areas?