All Forum Posts by: Richard Dunlop

@Jon W. is from that area and has a good knowledge of Sterling Heights.

Good area North of Detroit and one of the largest suburbs of Detroit.

Yeah of course everybody ought to know the Midwestern states are mostly in the EASTERN time zone like Michigan, Indiana, and Ohio.

Growing up in Arizona we thought we were Midwest and New Mexico was Mideast and Texas well that was way East.

I think the term Midwest was made up when the country ended at the Mississippi River.

I don't advise TK investments even though the cash flow might offer good returns it seems to me the TK companies prosper in the areas where there is a big disparity of prices.  If you are buying at the top of the market or above market you are forfeiting the appreciation. Why would you pay $50,000 for the house next door to the one I bought for $3000?

Because they can get much better returns than that! I sell properties every month that are returning WAY better than 28%.  I don't buy anything unless my first year return is "guaranteed" to be at least 300% and I still own the asset. Why in the world would they hold an asset that only returns 19-28%? (Again I am not advocating TK see above!)

It does grow very quickly but I'm glad I don't have to wait 3-5 years to double!

Mine has MORE than doubled since we first spoke 10 months ago.

Bob it's a beautiful story! It is and it makes several important points about long term RE investing.

But implicit in your posts is the assumption that everyone should continue to invest in the areas that you invest in as if the results would be the same. 

Are you trying to imply that someone buying from you the $535,000 condo in your illustration above would have long term results similar to yours?

I was the one buying your friends' houses! Would you pass on my gratitude to them for me.

They were crying and quite hysterical even after I gave them 30 days after COE for free to store the rest of their belongings that they couldn't fit into their smaller house.

(Hopefully they then went and bought 10 similar houses and are sitting back counting their incredible blessings now.)

Incidentally I AM also the one you never heard of. I grew up in Phoenix (Chris-town area) I attended Maryland Ave School for 5th grade more than forty five years ago. I watched them build Metro Center Mall when it was I think the 2nd largest Mall in the world.

I retired to Detroit

( I tried So. California first. (San Diego, Orange County( Tustin) Los Angeles County (Long Beach ) San Francisco Bay San Jose Area (Santa Clara)

@Ray Foley is a member of BP and a Real Estate Attorney

I Read the article posted above by the Fiscal Times from 3 years ago.

I also read the article from the same source 1 year ago its amazing how they completely reversed their stand in less than 2 years.

Upbeat article is here--- A High Speed Comeback

But even that article is one year old and out of date wait till you see their next article.

Sure. What brings you to Michigan?

I noticed some don't work on lower case letters.

E&O works e&o doesn't.

See this thread

The POA makes the signature valid but does not allow the agent to act contrary to specific instructions.

As you state in the next paragraph your liability is too high so you refuse to be AIF. It probably boils down to are the instructions documented (email or Text) or does the agent admit he made a mistake or is he going to state that he signed the change that he thought the seller had agreed to.

My opinion is the amount is relatively small the broker would probably pay it to avoid filing a claim or losing a client.