I Buy SW MI

At some point in time you may end up asking yourself should I sell my rental property in Southwest Michigan, Mi ? There can be several reasons why this question is being raised. When it does arise you are going to find that it leads to many other questions. This now means giving some serious thought to the answers so that you can move forward confident that you’ve made an educated decision. Should I Keep Or Sell My Rental Property? Let’s look at the pros and cons to selling your rental property . The Benefits of Keeping the Rental Property: You are probably aware of the benefits of having rental property . Otherwise, you would not have entered into this type of real estate adventure. The question is are you still reaping those benefits? Or are the benefits just not worth the time and work involved? The benefits can consist of…  Extra income from the rent collected that can be put to good use.  You have a property that will build in equity.  It can

Having rental properties is a great way to have a steady monthly income. Beginning real estate investors typically stick to rental properties in their own area because they are familiar with the market and can easily check on their properties and make some repairs if necessary. Once you have enough experience and the means to expand your territory, here are 6 tips to be a great Southwest Michigan landlord when you live out of state. Know the Local Market and State Regulations It is important to know the local market of Southwest Michigan in MI. This will require a little bit of research and possibly a reconnaissance visit or two to get a good feel for the area. Give I Buy SW MI a call today at (231) 392-3262 to discuss the local market of Southwest Michigan to find the best place to look for rental properties. You will have to know the area’s regulations to make sure your property is following the proper code at all times. It may also be necessary to include certain verb

Considering starting to invest in real estate? Here are four things you need to do before buying your first investment property in Southwest Michigan. Review Your Credit The first thing you need to do before buying your first investment property in Southwest Michigan is to pull your credit reports because you need to know your credit score. Request a copy of your credit report from all three bureaus. Double-check that all information is correct and make sure to dispute any errors with the respective bureau. Make sure you keep up on your payments because lenders like to see that you have no late payments for at least the past 12 months, but the longer the better. This helps show them that you will continue to make payments on time. A low debt to income ratio will also convince a lender that you are able to handle the additional mortgage payment. Pay down credit cards and other loans as much as possible, preferably to maintain a 30% utilization rati

Tenants are beginning to receive stimulus payments and some are using it to move. You may be receiving multiple applications for your available rental property, but once you locate a great tenant, you may be competing with other landlords to have this tenant. Here are some ways you can appeal to tenants in Southwest Michigan during COVID-19. Appropriate Rent One of the best ways landlords in Southwest Michigan can appeal to tenants during COVID-19 is to set an appropriate rent amount . Do your research to see what the current market rent is and set it as close as you can to that amount while making sure it fits your rental proforma goals. If you need to attract more potential tenants, you can lower your rent a few percent to be just below the market rent. This should bring you a better variety of tenant candidates so you can be sure you are comfortable with the tenant you end up choosing. Tenants will also appreciate the affordable rent during these uncertain times. All

Selling your house can be a stressful task in itself, but how do you sell a house if you have tenants already in place? Here are five steps for selling your house with tenants in Southwest Michigan. Step #1: Ask the Tenants The first step to selling your house with tenants in Southwest Michigan is to notify the tenants the property will be listed for sale, and ask the tenants if they are interested in purchasing the property. If the tenants have been in place for a few years, they might have fallen in love with the property or really enjoy the school district for their children. They also might really love the area and want to live there permanently. This would be a great opportunity for them to buy the house they know they love. If they are interested, have them qualify for a loan on your property and the purchase process will be nice and smooth. You may also want to offer an owner financing deal to the tenant if they cannot qualify with a traditional lender. This may

As an investor, you are always looking for a great deal, but how can you tell? Here are 5 signs of a great deal when buying Southwest Michigan real estate. No Zoning Issues or Liens It is important that you research a potential investment for any zoning issues or liens on the property. If the property you are interested in doesn’t have the right zoning, you may not be able to use the property for your original plans. It is also very important that your intended property does not have any liens on it, for if you did purchase it, they would then become your responsibility to pay, and that would cut into your return on investment. No Expensive Repairs If a property you are interested in does not have any serious structural issues, then it is probably worth submitting an offer, even more so if the price is right! Even if the property has a slightly outdated kitchen, you don’t have to replace it if it’s still functional or not destroyed. You don’t have to follow the TV hyp

Building a portfolio with real estate investment is a great way to build wealth and is statistically more stable than the stock market. The last thing you want to do as a real estate investor is to buy overpriced properties off of the MLS (Multiple Listing Service). This is where real estate wholesalers come in. They are able to acquire properties for less than market pricing and resell to buyers at or just below market pricing. You need to make sure they have market area knowledge, have a great track record, have a strong network of other investors and real estate professionals, and have an overall positive community presence. Here is an explanation of these four things to look for in a great Southwest Michigan wholesaler. Area Market Knowledge The first thing to look for in a great Southwest Michigan wholesaler is their market knowledge. A great wholesaler will be on top of the market and have monthly analyses completed for any area they operate