.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

But how can we work together if neither of us trusts the other?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Start by using a land trust and transfer the deed to your LLC later, once you’ve acquired a few more properties.If you’re willing to move and remodel, consider getting a 30-year loan on your next property.

Beyond something of extreme nature I find most things are repairable, especially if it’s a rental.

Insurance is going to protect you financially from lawsuits, damages, total losses, and other scenarios we can't even begin to imagine until it actually happens.You'll want to have a broker you can work with and trust that will make sure you're properly protected in the event of a loss.

But because it exudes trust and credibility. 4.

kept using people who don't do real estate to do my taxes, and also they had horrible communication skills, I don't trust people who only see u as money.

The "Initial Filing" is extremely important to get this right the 1st time as there are limited safe harbors for mistakes to avoid the penalties.