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24 February 2012 | 5 replies
Is it a lien that they don't want to pay or is there an issue with their chain of ownership from the foreclosure process?
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7 January 2013 | 10 replies
I've found some instructions on how to go about finding properties from probate.The first step is to check the daily obituaries (for me, they're located on the right part of the screen on this page: http://www.detroitnews.com/section/obituaries) and gather names so I can check them against the county property ownership records to see if the deceased owned real estate.No problem there.The next step is where I'm coming across issues.Step two, is to check the county property ownership records to see if there's a probate property associated the name of the deceased.When I for some of the names I found in the obituaries (http://www.waynecountylandrecords.com/RealEstate/SearchEntry.aspx), I'll find other types of records for their names, but I've yet to find any records for these individuals that are of the types "Probate Court Order" or "Probate File."
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6 January 2013 | 4 replies
With this data its easy to combine that with what you learn web sites like trulia and realtor.c-m and loopnet, zillow ,homes.c-m ect to determine some sort of valuation.
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7 January 2013 | 10 replies
Thanks for the advice guys, I'm determined to get into rehabbing.
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9 January 2013 | 5 replies
Should I use a land trust to hold the property so the mortgage company doesn't notice the change in ownership.
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13 May 2017 | 31 replies
Flood insurance requirements are based on FEMA flood maps, and it's up to FEMA (and the local water management departments) to determine if and how the maps are to be changed.We had some major flooding in my area back in 2009 and the results were that some of the flooded areas got reclassified into flood zones that required insurance and some did not.
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9 January 2013 | 6 replies
My basic return formula looks like this: (Gross Income -Adjusted Expenses) / (Purchase Price + Required Improvements) = Return on investment.Shortened up: NOI/Cost=ROIAssuming the building you are considering has no deferred maintenance and assuming the seller’s Net Operating Income (NOI) figures are correct then to obtain a 9% return you would want to buy the property for $24,151/9% = $268,344.If you choose to finance the property then the terms of your loan and the amount of your down payment will determine what your return on your invested cash or ‘Cash on Cash” return is.
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9 January 2013 | 7 replies
The assessor looks at all comparable properties to determine FMV and will disregard your purchase price if it is not in alignment with FMV.
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8 January 2013 | 7 replies
When your out on another job on the way take time to write down 4 apt building addresses on way to job to do research on ownership that night online assessor site.
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5 January 2014 | 34 replies
That's what you have to play with, determine what you need for management before taxes and an amount as profit for the brain damage.