Often the best source for this information is the local police department or county sheriff's department.
We recommend seeking information about the local "Drug Free School Zone" boundaries that do have a positive impact on police presence and school zone safety. This area normally extends well beyond the school boundaries and into area neighborhoods.
Buyer's agents typically don't ask for a percentage. The commission agreement is usually written in the contract between seller and listing agent and that includes the split made with the buyer's agent.
Normally, the commission is paid out of the proceeds at closing.... more
It really depends on the bank. We have had an instance when a buyer of ours had a contract on a property that went from being a short sale to a foreclosure. We were lucky in that the Bank processed the foreclosure quickly and brought it back on the market so that our buyer was able to still purchase it. This is not always the case. The best thing would be if you can find out from the bank or asset management company if there is a specific agent they will be listing the property with and try to be one of the first notified when it comes back on the market.
Unfortunately it sounds like considerable time is going to be added to this transaction if you try to stick with this property as there are specific procedures that the bank needs to take for foreclosures, depending on where in the process they already are.... more
Every state has different fees when refing. Maybe you can use a title agent and avoid attorney's fees at all. Locally in Rochester you should spend more than $4-500 on an attorney. Good luck in Atlanta. Tim... more
I work with an Austrailian Investor with whom I manage their properties as well as help them find and purchase their investment properties. He currently uses an international bank HSBC to finance his properties. It's convenient since I can then deposit the remainder of the rents collected into his account easily as we have many HSBC's in the area.
If you would like more information or a reference to a particular mortgage banker that I recommend ... please don't hesitate to contact me at PropertyManagement@MikeWalkerHomes.com... more
There are a few homes on Pearson lane. Could you tell me which one. My office and my home is very near here. The taxes posted on the homes are total true tax. If you are going to occupy the home (not Rental). There is a basic star examption of about $700.00 off the taxes posted. The homes assessed values seem to be in line.... more
Every year the home is reassessed, with a notice of the assessed value usually coming out in February. The assessed value is multiplied by the local mileage rate to calculate the taxes owed.
There is a link below to the State of Michigan's tax calculator.... more
Depending variables such as credit score, employment, cash flow/s, debt ratios and appraisal values of the properties you own, you may be able to to get a lender to lend you the funds. Either through a mortgage, home equity loan/s, or a line of credit, etc.. Remember most lenders will only let you borrow up to 80 or 90% of your equity, sometimes less for investment property. It sounds like you may have a good history of managing rentals. If you have a good relationship with your lender start there.... more
Visit with any qualified loan officer(s), see what your budget can handle, check your credit score again and see exactly where you stand--your loan officer may offer suggestions on repairing your credit if needed, in the fastest time. You also mentioned that your credit report shows you as co-owner of a mortgage--is your name still on that note--if not call the credit bureaus and have it removed--if it is, consult with an attorney and have your name somehow removed--if you wish to be removed. Again, not knowing all the specifics--start by consulting with any loan officer(s).... more
Check out Wells Fargo or Bank of America in the area. Both should have a referance for you. Wells Fargo has a streamline 203k or mini 203k. You should check it out. The buyer can do the work themselves, a great program.... more
The strongest way to leverage your cash is definitely to buy 2 or 3 multi families with mortgages on each. If you get 15 year mortgages, you can pay it off quickly and you will get a lower rate. I would suggest looking at 3 units and up, because those tend to be the minimum to break even if you're not living there. Best of luck!... more