Home Selling in Detroit>Question Details

sdhillon, Home Buyer in Detroit, MI

Hi i have a 3 bed brick house in detriot, i am a international investor, i can not afford to keep the property on, i am looking into land contract?

Asked by sdhillon, Detroit, MI Wed May 22, 2013

i have tenants in at the moment that are having problems paying rent i want ris of this property as i can not keep it on anymore

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Hi, Do you still are interested in sell YOUR property? Please send me an email and a phone number to contact you and send me more details. Thank you

0 votes Thank Flag Link Sat Apr 5, 2014
We Buy, Sell and Rehab Detroit Investment Properties.
0 votes Thank Flag Link Tue Aug 20, 2013
Many overseas investors come to us with very similar problems, please contact us so we can give you an assessment of your options

Sam Holland
Thank you
0 votes Thank Flag Link Wed Aug 14, 2013
Hello SD Hillion

Sorry to here of your trouble with your current tenants. Unfortunately no matter how thoroughly you check into potential tenants before renting to them you can never forsee the future of any problems that you may encounter.

There are maybe a few options available to you in order to bring some remedy to your situation. You mentioned possibly land contracting the property. Land Contract can be an option for you but you can still face some similar challenges.

Our office specializes in developing investing plans and exit strategies for our investor clients. Feel free to give us a call or email me and we maybe able to provide you some assistance or suggestions.

Best Regards,

Theresa Davis
The Real Estate Team
Office 248-809-3122
Cell 313-575-8992
0 votes Thank Flag Link Fri Jun 14, 2013
Hey, sorry about your tenants not paying rent, I thought the housing or management agents promise to collect rent? I am considering investing too.

Can you tell me some of your run ins? i do not wanna get burn.

0 votes Thank Flag Link Wed Jun 12, 2013
i would like a quick sale was wondering about selling it to the city for section 8 housing or to a charity, would this work?
0 votes Thank Flag Link Thu May 23, 2013
Please email me at crystal@crystalhardison.com so I can assist you further.
0 votes Thank Flag Link Thu May 23, 2013
Call Delores Goodson 313-575-2336 at Front Page Realty, a real Detroit realtor.
0 votes Thank Flag Link Wed May 22, 2013
Send me an email on the property, number of bedrooms, baths, the general condition of the property.

I also buy properties in the city.

0 votes Thank Flag Link Wed May 22, 2013
Because you bought this for investment, make sure you consult with someone qualified to check two aspects of the property before selling it:

1. The current condition
2. The fitness of the tenants

Since management is the key to profitability when building a rental portfolio, if the condition of the property and the tenants' financial condition hasn't really changed, then look at the management.

The reason that this is important is because depending on how much you paid for the home, you may end up taking a loss financially. So double check these things before selling.

Once you've decided that making repairs, replacing the tenants or replacing the management still won't fix the issue, then consider selling.

In order to sell, check the comparable sales of homes that have sold within the past 6 months and within a half-mile of your property.

This information should be put in a report. Notice the average number of days on the market before a sale for each comparable property. This will give you an idea of how long it will take to sell.

Your best bet for a great listing Agent will be someone who has an arsenal of investors already that need properties. This will be your easiest and quickest outlet for a sale.

Make sure you list the property on the MLS to get the most views for the home.

Please call if you need any additional help or advice:

Letitia N. Patterson

MI Elite Realty

Certified Investor Agent Specialist
Certified Short Sale and Foreclosure Resource
Licensed Realtor

Office: 248-905-1531
Cell: 248 506-9426
Email: myrealestateteam1@gmail.com
0 votes Thank Flag Link Wed May 22, 2013
I am interested in helping you. i do property management, and can also help you sell. i have clients i manage property for who will buy if you wish to sell. 313-422-5562, aabram2011@gmail.com
0 votes Thank Flag Link Wed May 22, 2013
hi are you available to speak now?
Flag Thu May 23, 2013
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