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Buying real estate with retirement funds

Posted by on 9:52 pm in Investing in real estate | 0 comments

Buying real estate with retirement funds: Did you know that it is possible to purchase real estate with your IRA? Recently, there has been many articles posted about Grand Rapids being an amazing place to own rental property. This is due to the increasing rents and affordable real estate. These articles are convincing and you may have been considering getting into the game yourself! I am a huge fan of investment real estate as a vehicle to reach many goals such as long term appreciation and short term cash flow. You may not have been aware...

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Are you cut out to own investment real estate?

Posted by on 9:57 am in Investing in real estate | Comments Off on Are you cut out to own investment real estate?

Are you cut out to own investment real estate? I am often approached by would-be investors asking me to help them find a “hot deal”.   I love that request so much!  Owning investment real estate can be very rewarding.  But it’s not something that you should go into blindly.  Here are some questions you should ask yourself before taking the plunge: 1)  What are your investment goals? The type of property that you purchase can vary greatly based on what you are trying to accomplish.  Is your goal long-term building of equity...

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2012 Market review

Posted by on 7:51 pm in Investing in real estate, Market statistics | Comments Off on 2012 Market review

2012 Market review Well, it’s that time of year again where I go a little crazy analyzing numbers. I started in 2004 and at that time I didn’t really look at numbers very closely to try to see where things were going. If I had I could have (at least somewhat, I don’t think anyone saw the depths that we were heading to) foreseen the trouble that we were heading to. 2006 had strong pricing numbers, but inventory numbers were increasing rapidly. 2007 and 2008 were the really bad years: foreclosures and distress sales went from...

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“I want to buy one of those foreclosures”

Posted by on 7:10 am in Buying a home, Investing in real estate | 0 comments

When I meet with a buyer for the first time, ideally I like to have them come into my office so that we can talk about what the process and what they want in the home. It is not unusual for me to hear “I want to buy one of those foreclosures” because we all hear so much about that in the media. I always respond: “I hear you say ‘foreclosure’ but I’m guessing what you really mean is ‘a good value’? It’s not always the same thing.” Is buying a foreclosure a good idea? Is it the best...

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Save money on your property taxes (not just this year, but ongoing)

Posted by on 3:51 pm in Buying a home, Investing in real estate | 0 comments

Save money on your property taxes (not just this year, but ongoing) As a Grand Rapids property owner I got my assessment statement in the mail the other day. One of my properties I feel is well valued by them, but the others I think are over-evaluated. What can I (or you) do about this? The procedure I’m about to outline is specific to the city of Grand Rapids, so if your property is located somewhere else you’ll need to contact your assessor to ask about the procedure. Your timeframe may be different, but all of them are very...

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What is all this property tax stuff?

Posted by on 7:00 am in Buying a home, Investing in real estate | 1 comment

What is all this property tax stuff? I am going to be writing today about how property taxes work in the state of Michigan. My next blog post will be about how to appeal if you believe that your property was not valued accurately by the assessor. On January 22 the city of Grand Rapids (other townships or cities might do this slightly later) mailed out notices that you might be tempted to ignore because it says in big red lettering on the top “THIS IS NOT A TAX BILL”. However, there are two things on this piece of paper that are...

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Investing in real estate with self-directed IRA

Posted by on 5:30 am in Investing in real estate | 0 comments

Investing in real estate with self-directed IRA Has there ever been a better time to invest in real estate? Neighborhoods where homes used to sell for $80,000 are now selling for $25,000-$40,000 and it just is a bizarre time to be alive. Consider this chart: You can see that the bulk of sales used to be in the $100-$150,000 range but now is in the under $50,000 range. This isn’t going to last forever. This is being caused by the foreclosure crisis and when that settles down you’ll see things slowly return to “normal”....

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Be patient and then be fast

Posted by on 8:58 am in Investing in real estate | 0 comments

Be patient and then be fast What’s the key to finding a “hot deal” in today’s real estate market? 1) Know what you’re looking for and be able to recognize a hot deal 2) Patiently sort through listings every day looking for this property 3) When it comes on the market, drop everything and go look at it right now and then make an offer I have experienced where buyer’s think that they have the world at their feet and no one else is out there trying to buy a home so every seller should be on their hands and...

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Want a “good deal”

Posted by on 1:26 pm in Buying a home, Investing in real estate | 0 comments

Want a “good deal”? Are you considering investing in real estate? Investing can be something you intend to occupy or something you intend to rent. Anyone who has ever talked to me about investing either for renting, flipping or living has uttered the words “Let me know if you see anything that’s a good deal”. Well, what constitutes a good deal for one person may be a terrible deal for someone else. You need to first know: – Are you more concerned with resale or rentability? – Do you prefer single...

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