All Forum Posts by: Brian Smartt

Scott, calm down, it's two homes amongst MILLIONS and they were GIVEN to me. Either way they would of sat with him or with me. And you think me holding 2 homes for 5 years is going to make Detroit worse? LOL!

You have a poor attitude and I see i'm not the only one who feels this way. Maybe the only thing "worthless" is your attitude?

Your input is no longer welcomed on this post.

Matt, thank you for taking the time to respond to the post, I truly appreciate it. If I choose to fix the house for the estimated $10k, would it be worth it? I imagine renting a home in Detroit isn't easy...and while it sits vacant I stand a chance of theft. I'm thinking about keeping one and donating one...but if its all negative, then i'll probably donate both. Also renting homes from AZ will be difficult im sure.

Thanks again for your time and advice.

Hi, my name is Brian and I use to be on here years ago, but some unfortunate things came up and forced me away for a few years. During this time I was given 2 homes in Detroit from a friend (at the time). I paid $495.00 to have both deeds put in my name. That's all I was out of pocket. However, I found out both houses have back taxes with Wayne's County. I've negotiated the taxes to about 25% of what I owe.

My questions are: Is it worth paying the back taxes? The houses look in heavily used shape and probably have been vacant for years. I looked up last sale on them and one was $1,100 and the other was $710! What should I do with these homes? I live between AZ and CA. Any thoughts or ideas would be greatly appreciated.

Locations:

12116 Burt Road, Detroit, MI 48228  - back taxes $7558.xx

11373 Camden, Detroit, MI 48213 - back taxes $6027.xx

Is the washer and dryer in the kitchen?

I'm a newbie here. But the flips look basic. No recessed lighting. All white appliances. Looks cheap. No granite. Looks like the tile on the floor was used on the counter too? To white for me - outside is white - everything inside is white. It needs some color. Even though its updated, it still looks outdated.

Just my opinion. Good luck.

@Dawn Anastasi - thank you for your help. Do you know anything about FLINT, zip 48504? Looks like C/D area. Cash flow would be pretty decent, but I highly doubt the homes would go up much.

Another "what if" scenario -- buying in "boom" towns, like Dickinson or Williston ND, Midland TX...they are booming now...but could bust any time. Rentals are HIGH now. Is there anyone out there doing this??

Everyone, thanks for your input/help - its appreciated.

@Dawn Anastasi - Hi! I'd be happy w/ anything over 10%, but if more risk can get me 15-25% i'd try that route.

@Anthony Dadlani - Thank you for the response. I dont know anything about note investing. I will have to do a lot of research - know of any good sites I can learn on?

@Michael Seeker - FHA loan, do you have to be a first time home buyer? I already have (2) homes.

What are your guys thoughts on buying (2) homes in Flint, or Warren, MI or even Syracuse NY for $10k/ea that are rented at $650/ea. I doubt they will ever go up in value.

An example: 2316 Joliet St, Flint MI --- For sale for $5500. Current tenant thru Jan 2014 at $625/mo.

It notes that house has LEAD PAINT. How can a house be rented w/ lead paint??

Thoughts?? HIGH RISK -- HIGH REWARD?

Hi all! Just sold some stocks and got $21k. I'd like to invest it into RE. I wouldnt mind something with HIGH risk either.

So my question is : If you had $20k, where would you invest? and what would you invest in?

Hopefully this is the right category for this question - if not, I apologize!

Thanks for taking the time to answer.

-B

@Trey Tasco

-- were you able to find anything on auction.com?

Holly Baldwin -- Welcome to BP! This place is amazing. Like yourself I am new to the site and to RE. I've spent hours on here reading and learning this weekend. I'd have to say the PODCASTs are my favorite along with the Beginner's Guide! Lots of helpful people on here too with good advice!

Good luck!