Hello all - newly licensed agent here with a couple simple questions.My partner and I have a LLC in Michigan, we want to start sending offers so I need to fill out a Buyers Agency Agreement form.

Seller's concessions perhaps.You can not contract out of landlord contract law or risk your lease being cast aside by a judge in court.As alternatives, You are in MI, look at contract for deed sales or a lease plus a ROFR, which is not an option (right of first refusal).MI Land Contract http://www.legislature.mi.gov/(S(ry4v1rqotoqal15d1ogdly3c))/mileg.aspx?

@Marc Allen HI marc you dont necessarily need an appraisal that yields 80% LTV to not have monthly MI.

the way to get started is to get an ugly house and make it nice. get a hold of all investors from SE michigan... there are a ton on BP

SE Michigan.  

Good morning Oleg M. !! I

@Dan M. I

Hello all,I currently live in North Dakota but am looking to buy property in Grand Rapids, MI.

HI Becky,FHA streamlines can be complex since there is upfront MIP or UFMIP that gets factored in as well unless the lender said they are going to issue a lender credit large enough to cover that in cash at closing for you (you'd need the 3167 in closing costs + the 1.75% of your loan amount which can add to thousands more needed).3.875% is not bad if you're no longer occupying the property and youre doing a FHA streamline on a "non owner occupied," property.Right now Streamlines are around 3.250% with up to .50% back on any given day since pricing fluctuates day in and day out.Like I said though, non owner FHA streamlines are more costly so with out knowing all the lending criteria no lender can accurately quote your scenario.All things considered, if your current loan balance will not go up, you'll save monthly payment, and you will not bring in little if any closing costs then its a great deal because there is only net net benefit.The critics will say but ohh you restarted your 30 year fixed loan or that you'll have MI for life.

They appear to be a wholesaling, etc company in the midwest (Illinois, Indiana, Michigan, Ohio ...).