Comments on: The Mysteriously Missing Tenants: A Precaution to Potential Investors http://mioaklandcounty.com/blog/2007/09/19/the-mysteriously-missing-tenants-a-precaution-to-potential-investors/ Real Estate in Birmingham, Bloomfield Hills, Beverly Hills, Royal Oak, Troy and Oakland County Mon, 01 Dec 2008 23:08:43 +0000 http://wordpress.org/?v=2.6.5 By: Larry D. McGee http://mioaklandcounty.com/blog/2007/09/19/the-mysteriously-missing-tenants-a-precaution-to-potential-investors/#comment-39911 Larry D. McGee Mon, 01 Oct 2007 18:56:38 +0000 http://mioaklandcounty.com/blog/2007/09/19/the-mysteriously-missing-tenants-a-precaution-to-potential-investors/#comment-39911 Maureen, Great post. Your comments can just as easily apply to the Denver market as is does to Detroit, and probably to most any market. I continue to be amazed by people that sign contracts, trust deeds, and leases without reading and understanding them. Relying on what anyone says without performing due diligence partly explains why the nation is suffering from so many foreclosures. -that's 30- Maureen,

Great post. Your comments can just as easily apply to the Denver market as is does to Detroit, and probably to most any market. I continue to be amazed by people that sign contracts, trust deeds, and leases without reading and understanding them. Relying on what anyone says without performing due diligence partly explains why the nation is suffering from so many foreclosures.

-that’s 30-

]]> By: Toby & Sadie http://mioaklandcounty.com/blog/2007/09/19/the-mysteriously-missing-tenants-a-precaution-to-potential-investors/#comment-39715 Toby & Sadie Thu, 27 Sep 2007 00:05:09 +0000 http://mioaklandcounty.com/blog/2007/09/19/the-mysteriously-missing-tenants-a-precaution-to-potential-investors/#comment-39715 Great post Maureen. There are great opportunities in the market - everywhere - for the smart investors. But they have to be both parts of that -- smart and investors. First-time investors are going to find it hard to get the ball rolling (since they can't show the income from the unit to lower the debt-equity ratio) in this market and if they aren't smart ... well as my grandma always said "a fool and his money is easily parted." Toby PS - You are now on my blogroll. Not sure how I missed that one. So sorry! Great post Maureen. There are great opportunities in the market - everywhere - for the smart investors. But they have to be both parts of that — smart and investors.
First-time investors are going to find it hard to get the ball rolling (since they can’t show the income from the unit to lower the debt-equity ratio) in this market and if they aren’t smart … well as my grandma always said “a fool and his money is easily parted.”
Toby
PS - You are now on my blogroll. Not sure how I missed that one. So sorry!

]]> By: Carole Cohen http://mioaklandcounty.com/blog/2007/09/19/the-mysteriously-missing-tenants-a-precaution-to-potential-investors/#comment-39410 Carole Cohen Thu, 20 Sep 2007 02:38:03 +0000 http://mioaklandcounty.com/blog/2007/09/19/the-mysteriously-missing-tenants-a-precaution-to-potential-investors/#comment-39410 I have a six unit property for sale and at one point we had a buyer from the West Coast make a purchase offer which we accepted. Now, I know my sellers and they have valid leases for all the units; I've seen the tenants. What I did not understand is why the potential owner did not want to meet the tenants or at least see that the units were occupied. Luckily for him he was working with a professional Realtor® - unfortunately for him he did not get his loan lol. Good post MF. I have a six unit property for sale and at one point we had a buyer from the West Coast make a purchase offer which we accepted. Now, I know my sellers and they have valid leases for all the units; I’ve seen the tenants. What I did not understand is why the potential owner did not want to meet the tenants or at least see that the units were occupied. Luckily for him he was working with a professional Realtor® - unfortunately for him he did not get his loan lol. Good post MF.

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