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Michigan Investors First Deal Finds Equity In Desirable Area!
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Just a note about my first property. I heard about this particular property from my realtor whose office handles a lot of HUD homes. I put a bid in for $55,000, which of course included the agents’ fee and $500 more than the asking price from HUD. We should be closing by the end of next week. I'm going with a traditional loan. The appraisal came in at $79,500. I plan to put a max of $7,000 into it and put it right back up for sale. It's in a very desirable area so I shouldn't have any problem selling it for $80,000 to $85,000. I'll keep you posted on how it all goes.
Thanks a bunch,
Cheryl W. |
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Learn about your market. Wherever you plan to invest, you will want to know the appreciation rate, vacancy rate, median income, is the population increasing, stable, or decreasing, is there a 4 year college or university, the median price for a typical blue collar type home, etc. Use maps; aerial photography, street maps (Google has some great sites), and topographical (for dry lakes, trees, elevation, washes, existing bodies of water). |
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Real Estate Portfolio Manager
The Real Estate Portfolio Manager was designed and built around four powerful management tools: Business Management, Time Management, Contact Management and Media Management. We feel this program will help you be more effective and keep you on that course that leads to success. Listed below are the features and benefits you will have at your disposal.
Information at a Glance
- Agent Broker Information – Listing Management
- Insurance Information
- Renter Information
- Mortgage information
- Offers and Counter Offer Information
Management Tools
- Mortgage Information Manager
- Lease/Rental Property Management
- Expense Management
- Blank Forms
- Analytical Tools
Marketing Tools
- Management Media (Video, Photos, Documents and Forms, Analytical Tools and Voice Recordings)
- Create a CD containing media managed in the Media Manager
- Send an email containing media you select from within the Media Manager
- Create a Web File containing media you select from within the Media Manager
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