Home Buying in Detroit>Question Details

Yong Liu, Home Buyer in Detroit, MI

out state investor, found a local contractor. How can I trust him, how can I sure my money will not be stolen.?

Asked by Yong Liu, Detroit, MI Sun Aug 17, 2014

Don't ask my why has no agent. My agent's contractor doesn't want to provide detail scope on the rehab project.

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Hello, I have for sale, a beautiful 2 Story brick colonial with many beautiful features, good roof, partially finished basement, 3 large bedrooms with walk in closets, beautiful hardwood floors, 2 car garage, large backyard with pond. I think you may be interested in. This home is a must see, call (586) 439-8400 to schedule viewing. Home is near police station, schools and major freeway. This would be a perfect home or investment property. See link below. Thank you!!!!!

http://www.zillow.com/homedetails/11511-Kenmoor-St-Detroit-M…
0 votes Thank Flag Link Thu Jan 1, 2015
You can`t. SE Michigan is the home of predators and prey. You must be one or the other to survive. If you do not know Michigan, especially SE Michigan, leave it alone. Take it from a denizen.
0 votes Thank Flag Link Tue Aug 26, 2014
Check references, Better Business Bureau, ROC for any complaints. I would also make sure they are licensed, bonded, and insured. That will provide you with some protection. Also, make sure you have a contract in place. The contract should have specific time lines and repercussions if the contractor fails to complete on time.
0 votes Thank Flag Link Sat Aug 23, 2014
The contractor needs to give you some type of an idea what the rehab costs will be, or he could add extra expenses. You definitely need a property manager to be sure your contractor is doing the jobs correctly or else you will be doing it again. I know because i had one bad contractor that did not do jobs correctly. Then i had to pay to have the jobs done correctly, so basically i paid twice for the same jobs. Be sure someone that you have gotten references with like a property manager will check in on your contractor. Its worth the extra cost. Which state are you investing in, for i also invest out of state. email is bluechickenlady33@gmail.com Hope everything works out, just be sure to have the professional property manager be your eyes when you cant be there.
0 votes Thank Flag Link Sat Aug 23, 2014
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