Jeff Lund's Michigan Real Estate Investor's Blog

Agents on active rain sometimes provide statistics on single family homes in their area, so I thought I'd post some stats on investment property activity.  Here are some recent sales statistics on 2 unit property sales in the Grand Rapids, MI Area:Number of Sales Year to Date: 211 (As of October)...

In talking with my mortgage lender recently, I found out something interesting...1) If you have an option agreement with a tenant, keep great records of when the rent money comes in, as the lender will probably require copies/proof of that rent.2) You may want to advise the seller to set up a LLC...

Sometimes, a portion of the rent payed by the tenant during the time of the option can be credited back to the buyer to help cover closing costs.  Make sure that your mortgage lender is knowledgable about how to structure this, and the amounts that are allowed.Again, the amounts can vary; analyze...

Here are some terms that you might consider placing into a lease to option to buy agreement:1) define a time period.  as I said in the previous post, decide on how long you want to have this agreement; the shorter the better for sellers.2) Lease option money down.  This is in additionto a securit...

This is the first day off I've had in quite a while... no work, no rentals, and hopefully no phone calls!  I think that the holidays are a great time to reflect on the year, and plan for the next one.  Keep in mind, there are still buyers and sellers out there that really need your help, so don't...

Ever get a seller/landlord that needs income fast to cover their house payment on a property sitting empty?  They might want to consider a lease with option. There are many names this is called: rent with option to buy, lease to own, etc.Pros: you get someone to rent for a period of time that wan...

With the properties I own, there are inquiries on whether or not I will 'accept section 8' over the phone.  My answer is always Yes.  I don't want to turn away a good prospect just because of the type of income that they recieve, as some of those recipients are great, long term tenants.  Some are...

As a landlord, I am constantly evaluating prospective tenants over the phone and in person.One of the most important things to consider is consistency.  To stay out of trouble with discrimination, make sure that you ask the same questions to every prospect.  I would even have a checklist or point...

When signing a lease with my new tenant, I use my 'standard' form provided from my local rental association, but I add some special provisions in it.One is a $40 emergency lockout fee charged by me for when they lock themselves out of their unit.  Because I live a half hour away, there is an expe...

Ever have one of those tenants that pays late?  Having 26 units, my friends know that the 1st of the month to the 5th seems to place me in a not-so-good mood, as I can't understand why my tenants don't feel the need to pay me on time, as I always did when I rented.The first thing to do: get rid o...