Michigan Income Property

06/19/2010

Looked at two houses this past week, one in Livonia and one in Dearborn Heights. Made an offer on the livonia house yesterday. Should know by Monday whether I got it or not.

01/26/2010

Spent a lot of time yesterday at Barnes & Noble and picked up IRA Wealth, by Patrick Rice. So far so good. Let you know how it is when I'm finished.

09/01/2009

Went on a great bike ride on Hines Drive yesterday - fastest of the year. I think I will do another today before I have to get my snowboard out.

08/29/2009

continued. I haven't heard the group mention what kinds of returns they are realizing but I can't imagine their ROI's are better than that of real estate entrepreneurs in this market. I'll ask them soon.

08/29/2009

I'm sitting in Panera updating my real estate calculator, reading the news, watching Yammer, and doing some general "people watching" (one of my favorite activities). There is a group of guys sitting next to me that are obviously in a stock/futures investment club. They are each reporting out on their weekly activities and ideas and passing out charts to each other. continued

08/21/2009

08/21/2009

There was an interview this morning on the radio with a comedian who is also one of the writers for the Letterman Show. He mentioned that all successful comics, Jerry Seinfeld specifically, spent the early parts of their careers locked up for 2-3+ hours per day writing material. The ones that made it didn't quit and stuck with it, as frustrating as it may be. Great lesson - don't quit!

08/11/2009

I have been looking for a way to identify owners of multi-family properties in Wayne county and came accross Lead-Trac, an on-line list service that specializes in commercial property. Unfortunately, the way Wayne county identifies property the service can't distinguish multi-family from the other types. According to the company rep it should work though for other Michigan counties.

08/11/2009

Looked at a bank owned 43 unit building this past weekend. It's out of my target area but it's still worth looking at. Running the numbers now and will keep everyone posted on the results.

08/11/2009

Last REO flip that was done in Westland Michigan.