Prep work … Is it important
Michigan Foreclosure Articles September 24th, 2006Good Morning and I hope find everyone well this morning. We have had lots of rain Friday & Saturday night. I have a rain buck and its full and over flowing. We even shut off the sprinkler system at the houses.
Friday was a good day for annoucements of new house listings on the Michigan St Clair County Foreclosure List. Every Friday, a new list of foreclosed homes are released. We have access to St Clair County - Port Huron, Marysville, St Clair, Marine City, Capac, Yale, Algonac and more while we also can see what is available across Michigan with those Pesky Foreclosures.
So, we go thru our foreclosure listings and determine whose the canidates for further investigation. Once done, I hand the list off to Bonnie and she sets up the appointments. Then we go shopping. We have a number of houses that are showing 40-80k in equity at current list price.
So, we look to see what it takes to bring them back to life as in the form of repairs. Run the numbers for Market Value upon completion, adjust for conditions, and what’s the range we can sell and the profit.
My favorite part, send off emails to my Private Money Partners and provide them with latest list of foreclosed homes. Reminding everyone, with one - one emails, what houses we need to resubmit and the way we go on offers.
Prep is done, profit structure in place with PMP’s, offering range established, renovation projected and we are faxing to offices again. Should get a couple this weekend … keeping GC’s busy & PMP very happy.
At this point, off to the farm to get the chores going and cleaning barns, etc. The egg production is up and raising. Happy with that … never knew this about my dad that he loves fresh farm eggs. So our first FREE customer has been my dad.
Yesterday, was dad’s 78th birthday and going strong, just early in September he had his knee surgery done and everything went well. All very happy. He is now walking without the walker and uses a cane so in the next couple of weeks, that will be gone. Go Dad.
Off to Reading Michigan this morning, Bonnie’s rare bunnies have arrived from far south. Check out miforeclosures.blogspot.com for more details on her farm and real estate.
This is bob, signing off for now!
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