Jeremy Drobeck ~ (269) 488-9494 ~ Apply Now ~ Contact Us

To All The Landlords & Want to be Landlords Out There!

Owning rental property in the City of Kalamazoo can be tough.  Trust me I know first hand everything you have to go thru.  Not only do you have all the rigors of being a landlord like tenant screening, repairs, & yes the occasional eviction.  You also have the joy of dealing with the rental property certification in the City of Kalamazoo.  I always find it interesting how the City comes thru to inspect the property it the owner does the repairs, then a few years later they come thru an an issue comes up on an item that has been there for many years and was there last time they inspected the property.  So very frustrating! 

Well I have some good news.  The City of Kalamazoo is looking to simplify the rental housing inspection code and move to a more universal code.  The International Property Maintenance Code (IPMC).  In order to implement this code there are a number of changes that need to be made to the current city code.  As part of this process the City of Kalamazoo is seeking the advice and input of KARHA - Kalamazoo Area Rental Housing Association.  KARHA is a local group of property investors and Landlords in the Greater Kalamazoo Area and brings years of first hand knowledge and experience to the table. 

Now here is the really cool thing, YOUR voice can be heard as well.

At 7:00 pm on 9/22/2014 at KARHA's general meeting there be housing inspectors, city commissioners, KARHA members, & guests to discuss the upcoming changes to the code.  This is a must attend meeting for anyone in the city that owns rental property.  I hope to see you there!

Click here for more information on the event and to download the proposed changes.

 

Published in Jeremy's Blog

Fannie Mae has announced the discountinuance of special financing options for properties listed for sale at www.homepath.com.  More specifically the homepath financing and homepath renovation financing products for both home buyers and investors.  In order to take advantage of these programs with the current enhancements there must be a fully executed purchase contract dated on or before October 6, 2014. 

Don't worry we have lots of other options for home buyers and investors!  For buyer looking for low money down options check out Rural Development for example.  Got repairs?  Well we have renovation programs for everyone including investors.

At the end of the day the elimination of these programs is a good single that things are looking up for the real estate market and thats great news!

Published in Jeremy's Blog

Wanted to let everyone know I'll be speaking in front of a group of investors in Kalamazoo, Michigan on August 27th.  If you are thinking about buying a rental property or looking to expand your portfolio this would be a great opportunity to not only learn more about the mortgage guidelines and process, but also network with a group of local landlords.

Here are some highlights of what I will discuss:

  • Preparing for the next purchase - What the lender is looking for
  • Tips and tricks to qualifying
  • Low down payment options on nonowner occupied homes
  • Renovation options for investors
  • The real Fannie Mae guidelines
  • Learn about a low down payment 2 - 4 unit owner occupied renovation government back mortgage program
  • Cashing out equity on a current rental to purchase more properties

A little more about this group.  The organization is called KARHA-IEN and you can find out much more about rental properties on their website www.karha.com

 

Hope to see you at this meeting!

GUEST WELCOMED!
TUESDAY August 27th, 2013 at

Theos and Stacey's Restaurant

5225 Portage Rd

Portage, MI 49002

6 PM DINNER AND 7 PM MEETING START

Published in Jeremy's Blog

Well the City of Kalamazoo has release there Summer 2013 Newsletter.  Couple interesting things to note.

1. Landlords so be sure to schedual reinspection for renew certificates well in advance to take advantage of the 40 month certificate.  To find out when a certificate expires click this link Property Tax then select city of kalamazoo, then click rental property. 

2.  New fee schedule  see the newsletter for details but something I personally got burned on. . .   what happened to the warning letters.  In the past if a resident didnt mow the grass I recived a warning letter, called them and made them mow.  Just recently the waring letter had a fee associated with it, basically no more warnings!  They send a letter you pay a fine, ouch!

3.  I found it interesting that they note Lead Paint, scary. . . .   more info at www.michigan.gov/leadsafe

4. Tax Foreclosure Auction comming soon!  Aug 22, 2013 properties can be viewed at www.tax-sale.info

 

For the full version of the newsletter Download the PDF file below.

Published in Jeremy's Blog

I wanted to share this info with you.  If your a Real Estate Agent, Landlord, or even thinking of buying a rental property this would be a great place to go and learn!  Realtors buy the way you can pick up some free con ed, in fact anyone who signs up prior to 2/1/2012 will get in FREE!!!  The 2012 RPOA Annual Conference and expo is going to be the biggest event of the year for Michigan real estate investors.  Two full days of action.  They say there will be over 200 landlords and investors at the expo.  There are three National speakers:  Vena Jones-Cox, Nick Sidoti, & Dyches Boddiford.  Plus multiple breakout sessions.  I know I will be there hope to see you there too!  For more information and to registar check out the Kalamazoo Area Rental Housing Association Website.

Published in Jeremy's Blog

Fannie Mae has announced changes coming on January 20, 2011. The changes are a way for FNMA to make more money! Yes that's right they are increasing the cost of home ownership in the name of "risk based pricing". Also, with the new appraisal laws (HVCC) can a builder shop appraisers? They are doing it! more at

Published in Jeremy's Blog

With the new medical marijuana laws in Michigan what do you do if your or an investor you work with has a tenant that wants to smoke pot in the home they are renting.  Even more so, what if they want to grow it?!? 

ps - You may think I am a little crazy for making a video about marijuana.   That's kinda the point, hope you come back for more!

Published in Jeremy's Blog

Land contracts in Michigan update, is the mortgage interest deduction going away? HARP, mortgage rates on the rise?

Published in Jeremy's Blog

Land Contracts in MI, soon to be few & far between. RD funding update - great news

Published in Jeremy's Blog

Uncle Sam wants to do away with Land Contracts, HR 4173 is BAD news for our industry. We will be left with only 4 lenders if this thing goes thru.Consumer Protection my A$$

Published in Jeremy's Blog
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