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Home Buying in Detroit : Real Estate Advice

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  • Local Info91
  • Home Buying792
  • Home Selling80
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Activity 919
Sun Feb 21, 2016
Jasmine Haskins asked:
Hi, my husband and I are very interested in a land contract home in East English Village, prefer Mack/E. Outer Drive area within border of warren/cadieux. Please email us details. the…
0 votes 0 Answers Share Flag
Sat Feb 13, 2016
dan.mullins answered:
Lionco Management & Leroy Williams = Con Artists

This group is unlicensed to do property management. They bill themselves as "investor friendly". Turnkey property management... What will really happen?

Leroy Williams will steal your money and do the worst work you could imagine. After dealing with this con man for 5 months and hearing every excuse I could imagine I drove from Phoenix to Detroit to check up on my project. What I found was shameful, work not done, work that was attempted needed to be demoed. Plumbing connections installed upside down, electrical fixtures switches and outlets installed but not even wired, in some cases the drywall was over the electrical box and the light was just screwed into the drywall. He attempted to install cabinets in the kitchen, all I can say is WOW... Possibly the worst vinyl siding installation EVER! The clowns he sends out to do the work camp out in your property, litter the place with empty brandy bottles and swisher wrappers and butts.

Let's just say EVERYTHING this guy touched was done wrong. I have pictures to back up my statements, names and email addressees of others he ripped off as well.His license has been revoked by the State of Michigan. You can look it up for yourself.

Do yourself a big favor... RUN for this guy! He prays on out of town investors. He will even say that this ad is written by someone that never worked with him... another one of his lies.

His own employee quit and contacted me with a list of others he ripped off as well because she was so ashamed that she was associated with this company.
... more
0 votes 6 answers Share Flag
Sat Feb 13, 2016
Valleyinvestment answered:
A nearby market to Detroit is the City of Pontiac, located about 35 miles north of Detroit. Values there have jumped 13.8% in the past year with property tax rates much less than Detroit. We have a sizable portfolio of 2 and 3 bedroom SFR rentals with or without tenants, move-in ready or requiring some rehab. We have our own construction crew so typical rehab takes 10-14 days to tenant ready. We have a list of fully vetted prospective tenants and can offer management services. We have no additional fees and our purchase prices are rock bottom, we don't dicker and can represent you at closing. Most properties are less than $50,000 USD. We can package multiple properties in 5-10 unit lots and will arrange simultaneous closings for your convenience. We have a national title company, who can close in 24-36 hours with electronic funds transfer. Feel free to call us at 1-248-812-4801, Valley Investment Group LLC. ... more
0 votes 6 answers Share Flag
Thu Feb 11, 2016
W.treffers answered:
HI,

It depends if you are a US citizen or a foreigner. If you are foreigner and it's your first investment it takes a while to get property on your name. Some of the things that need to be done is setting up a company, get a registered agent and get a bank account.

When these things are in place you are good to go.

I strongly advise to buy your property with a warranty deed. Some times the seller hasn't got all the paper work ready after buying a property from the tax auction to get the warranty deed. Then it can take a few months to get everything processed.

If the paper work is ready it could be done in 2 weeks.

Are you looking for investment properties in Bagley or Grandmont-Rosedale send me an email w.treffers@oakcornerestates.com we have properties available that are generating an income.

Good luck and hope to get in touch.

Wilmar
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0 votes 1 answer Share Flag
Thu Feb 11, 2016
W.treffers answered:
Hello,

We can help you find all the necessary information. My company develops turn key investments that we keep in our own portfolio and sell to US and overseas investors.

If you send me an email to w.treffers@oakcornerestates.com with contact details we can send you information about the buying process and explain where the good investment locations are. You have a solid budget to buy some good properties that should give you a return between 14% to 20% return.

Hope to hear from you.

Wilmar
... more
0 votes 2 answers Share Flag
Tue Feb 9, 2016
Onenubian55 answered:
I don't know about a free grant, but there is a loan program called HomeStyle Renovation loan you can use to renovate your home or whatever you see fit to improve your home overall condition, but there are some small requirements based on your credit which will entail some money down anywhere from 5-10% of the loan amount. ... more
0 votes 2 answers Share Flag
Tue Feb 9, 2016
Yosiyehuda answered:
if i purchase a forecloseed property in auctionin florida it may be having another deb tbeyond the judge's decision final
0 votes 6 answers Share Flag
Thu Feb 4, 2016
CreativeRealEstateDeals answered:
We offer Fast Hard Money Loans To Help Avoid Foreclosures, for Refinancing, Purchases and Private Money.

We can fund your deal in as little as 7 days. Application is fast and simple.

Contact Al at: 734.564.4640

Unlike other lenders, we focus almost completely on qualifying the value of the home rather than the borrower, resulting in a fast, simple approval process remarkably free of hoop jumping. In other words:

No credit check and no credit reporting
No income verification
No asset verification

Is this your situation?

- Do you need some cash fast?
- Did you get turned downed by another lender even though you had a big down payment?
- Do you want to finance your property and put cash in your pocket?

Contact Al at: 734.564.4640
... more
0 votes 2 answers Share Flag
Wed Feb 3, 2016
Amelia Robinette answered:
call an insurance agent, or several and get some quotes - they'll be able to direct you through the process
0 votes 1 answer Share Flag
Mon Jan 25, 2016
Dan Tabit answered:
Eric,
I don't think you can be forced to buy a home, but you may lose your earnest money. Your contract will have contingencies and dates attached to them. If you've waived your contingencies, inspection, title, financing are the most common, or if they expire, you are at risk. ... more
0 votes 1 answer Share Flag
Wed Jan 20, 2016
Badsha.2007 answered:
I am guide to every foreighn invester who's are invest his money at right ways.

I am an indian , belong from West Bengal.

Pls contact with feel free.

regards

R.Chatterji
+91 9681015799 ... more
0 votes 5 answers Share Flag
Wed Dec 9, 2015
BossLady answered:
The neighborhood is pretty safe. I have a house a few blocks over and the neighborhood is pretty mixed. Both black & white people a lot over 40 years of age.
0 votes 2 answers Share Flag
Wed Dec 2, 2015
Katie asked:
Hello. We bought a home in 2005 in Livonia. by 2009, with the market crash we were way underwater and wanted to move. We rented out the home and bought a new home in 2010. In 2012 we short…
0 votes 0 Answers Share Flag
Tue Nov 10, 2015
Sally Grenier answered:
I think you have bigger issues than insurance. If you own the home and people are still living there, they are doing so ILLEGALLY! You need have them removed. Call the police!
0 votes 1 answer Share Flag
Thu Oct 22, 2015
Kala answered:
t's a lot easier to just use a title company, especially when it's a higher-end property that requires a major investment and you have money to spare. Before closing, you can purchase a good title insurance policy that will cover all of possible title problems for the new owner.

If you want to find out yourself, you can get an online title report within few minutes on website such as http://www.nextace.com or http://www.searchq.com then you should exam the title and verify the records on your own.
... more
3 votes 16 answers Share Flag
Thu Oct 8, 2015
Dan Tabit answered:
Andrianna,

Rent to owns are rare and even more rarely are they a good deal for the renter/buyer. The vast majority of rent to own renter/buyer's never end up buying the house. They are a great deal for the landlord/Seller as they get to collect large up front deposits and over market rent only to do it all over again in the same house. I consider it basically immoral and predatory in most cases.

Resolving credit issues isn't rocket science and a local mortgage lender can and often do assist buyers with this. Many things you can do yourself, others the lender can direct or assist you with.

Most people in this position are far better off renting the least expensive place they can stand to live in and save up some down payment, get on a budget and fix their credit. Once you are qualified, you can select any listed property in your price range and you've fixed the issues that hurt your credit.
... more
0 votes 1 answer Share Flag
Thu Oct 1, 2015
Nettajay1027 asked:
Thu Sep 24, 2015
garypuntman answered:
I'll have to look into this business. My friend is going to rent out his home and he needs to find a management company to work with. I'll have to refer him to this. http://www.vintage-corp.com/ ... more
0 votes 1 answer Share Flag
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