All Forum Posts by: Richard Dunlop

Yes absolutely, but they are easy to get lowered IF you fight them all the way to Michigan Tax Tribunal.

I have on several occasions gotten taxes cut to less than 1/4 of what they were in one years time.  

The value of the property is fairly easy to establish, the problem arises when the assessor is pretending a property is worth $80,000 that today is worth $30,000.    

Detroit takes more than just a property manager.

What neighborhood are you invested in?

When you pull your own Credit Report multiple times

it bumps off the inquires from TU and EQ but not from EX

Little known fact.

I’m hoping to answer more question about Detroit or Michigan. I certainly didn’t intend for this thread to be a one man rant and I will still answer some of the additional points brought up.

But I wanted to give others a change to ask questions also.

I think it's covered...

Yeah, They see the UHAUL truck in the driveway. Come back the same night. It's not worth the effort to try to have a rental in a neighborhood like that.

@Serge S.@Ben Leybovich

No problem

You just need to find a "Fire Insurance Company"

 that covers "Prior Existing Conditions"

I do like Goodman also but because I have a familiarity with them and have found them easy to work on.  They are cheap.

I do not think they are the most dependable!

You could read the recorded deed of trust to see the terms.

But 2004 does not guarantee much is paid off the note. Unpaid taxes cost of foreclosure could conceivably make the payoff higher than the original note.

ie Was it a 30 year note or 15 year?

Was it a 40 year note or Interest only for the first five years or even negative Amortization. (All three avail in 2004)

Did the lender wait three years before they caught up on foreclosing this property? (As some markets they were way behind)  

Yes you will have to qualify.

Careful here! You probably gain nothing by acquiring the 2nd UNLESS you redeem the 1st. There are strategies playing with overages but NOT here because it is not worth the 1st (unless it is paid substantially down, What is the date on the first?)