All Forum Posts by: Michael Wright

@Erik Romo

Hi Erik,

Buying a property that is occupied can be intimidating but I would recommend sending an official letter as a 'property management company' explaining that your company has recently purchased the property and need to take action.

Sidenote: I personally always say that I'm the property manager on properties i own so i dont have to answer questions on the spot that only owners can.

Things could go well and they could vacate by themselves.. but worst case scenario they dont. You can file a trespass eviction (7 day notice to vacate), get a judgement and call the baliff to do the dirty work and force them to vacate.

I would start by sending a couple official letters and see if they call. Alot of times 'squatters' know the situation and are just waiting for someone to make them leave.

Good luck!

@Sharron Morrow

I agree with Sebastian.. the inspector and contractor serve two different purposes. To my knowledge, inspectors do not complete any work, only point out present issues. So after you get an inspection report then you'll need reputable contractors to complete the work but you dont want to put the cart before the horse.

Good luck!

@Sharron Morrow

Ok it sounds like you may want to connect with a reputable property manager or general contractor to do a walk through and submit a quote.

Detroit has started requiring rental homes to be certified with the city so I thought you may have been referring to that.

@Sharron Morrow

Hi Sharron..

What type of inspection are you needing (i.e. Lead, city certification, water etc)?

@Charles Clark I would say that you should quote contractors on a full rehab..

BUT in my experience in Detroit that can be dicey.. unless you have STRONG RECOMMENDATIONS from their past customers that you can trust.

I've found my best strategies for rehabs is utilizing a hybrid approach to 'piece-mill' my rehab team.. find a good plumber, electrician, carpenter, handy man etc.

If you hit a home run and have a company that's supplied all members awesome!! But dont rule out the 'hybrid approach' either.

Contractors can make or break you in this market.. 'measure twice.. cut once'.

Good Luck!

Does anyone have recommendations for a reliable handy in the northwest Detroit area?

Ideally looking for someone that is willing to do small jobs (i.e. paint, repair drywall etc).

Does anyone have a reasonable landscaping recommendation for westside of Detroit? Looking to get weeds pulled, mulch laid, shrubbery cleaned up in backyards

(Mike G.& @Amber Stradford)-welcome to BP, I too stumbled onto this website not so long ago and have been hooked ever since! I am an investor in the metro Detroit area. I recently completed my real estate licensing course and (once fully licensed) plan to sell properties. My first love is investing and will soon acquire more properties in the upcoming tax auction. Let me know if you have any questions in regards to (residential) investing.

Mike W.

I am eyeing wayne counties upcoming tax auction. I believe in Detroit and wholeheartedly believe that it is a goldmine for investors (even despite recently filing for bankruptcy) willing to take risks. I'm fairly new to investing and have had quite a busy year moving from phoenix to memphis and back to my hometown of Detroit, recently tied the knot and purchased 3 homes (1 as my primary residence, 2 as investment props). My bank account took a tremendous hit with all of these life events so my current dilemma is how to raise money to keep investing.

Does anyone have tips on writing up a contract to use investment money between friends?

What is an acceptable interest rate so that both parties will feel satisfied?

I am eyeing wayne counties upcoming tax auction. I believe in Detroit and wholeheartedly believe that it is a goldmine for investors (even despite recently filing for bankruptcy) willing to take risks. I'm fairly new to investing and have had quite a busy year moving from phoenix to memphis and back to my hometown of Detroit, recently tied the knot and purchased 3 homes (1 as my primary residence, 2 as investment props). My bank account took a tremendous hit with all of these life events so my current dilemma is how to raise money to keep investing.

Does anyone have tips on writing up a contract to use investment money between friends?

What is an acceptable interest rate so that both parties will feel satisfied?