In an attempt to cast my net wide and capture all relevant available apartment buildings that met my purchase criteria, I included buildings being sold “By Owner†in my searches. What did I learn? That an FSBO is an FSBO is an FSBO. No matter if it’s a $30,000 2 bedroom dump in Melvindale (I SWEAR that it will appraise for $80,000 the owner told me) to a $1,400,000 apartment building on the east side. The…
My Latest Deal – Can I Find One Like This For You?
Here’s the latest deal that I’m working on. It’s pretty incredible, and it’s an indicator of just how UNBELIEVABLE the opportunities are today in the Metro Detroit suburbs. The property: 3 bedroom, 1.5 bath ranch in Harper Woods New roof New furnace New replacement windows Newer ac and hot water heater Central Air 2 car garage Sun porch off the back of the house Full basement, half of it finished (the half bath is in…
The Door Got Kicked in and There’s Blood on the Carpet – Why Again?
I spent some time on Saturday with some real estate friends and colleagues, and we were all talking about how boring our businesses were. The business itself was exciting and interesting to each of us. And to a person it’s been a gratifying experience. But it never seems that anything really interesting happens, or at least nothing interesting enough to talk about to other people. But then we got talking about the First House. You…
The White Hat Commercial Broker
Just about a year ago I read a book by Robert Ringer called “Winning Through Intimidationâ€. It was a spectacular book with a spectacular – and completely not-politically-correct – title. The interesting thing about it was that it really wasn’t about intimidation at all. No, it’s central thesis is that in any business deal the smart businessman will do the upfront preparation, and put in place the necessary safeguards, to protect his position at all…
The One-Trick-Pony Apartment “Guruâ€
As I mentioned in my prior post, this being a newbie again is an interesting feeling. And with my brilliant powers of deduction I figured out that it’s because you don’t know what you don’t know when you first start something new. I mean, I’ve been in the same professional field for nearly 20 years, and although I have had numerous jobs with numerous different companies, it’s been largely the same with very little being…
Do, or Do Not – There is No Try
My oldest paid me a very nice compliment yesterday. Like probably most grade school kids with cable, ours have been glued to the television at 8pm last Friday, Saturday, and Sunday and this Friday, Saturday and Sunday, as one of the cable channels has been playing the Star Wars movies in order. It reminds me of the times when my parents used to let us stay up and watch every time a new Godzilla movie…