Commerce, MI

Do you know how to buy Commerce Township rental properties or which rental home will be a good rental property? Do you know which Commerce Township rental property will bring the best return on investment or will appreciate the best? In the last installment I said location is very important in picking rental properties.

I talked about buying in good cities and good neighborhoods. In this installment of buying Commerce Township rental properties I will get more in-depth about location. Let's first talk about school systems. Buy in the best school system possible.

Last I heard the City of Detroit school system had a graduation rate of 25%. Where do you think a renter with children would want to live. In Detroit with a 25% graduation rate or in Livonia with a graduation rate over 80%. So buy in a area with a good graduation rate.

Next stay away from these locations when buying a Commerce Twp rental property if you can.

• homes near railroad tracks
• homes near busy roads and freeways
• homes near commercial properties
• homes in areas with high crime rates
• homes near cell towers

Of course you can buy a rental home in these areas, but you will get a better appreciation rate on homes away from these areas. You may discourage certain renters from renting on these homes. But it may be a catch 22. It is in these areas of commercial properties, higher crime rates, poorer performing school systems that you will find homes that will be affordable to be rentals.

The key is to pick the lesser of all the "evils" to get the best possible rental you can. Remember you not only want to get good ROI, but try to get a good possible appreciation.

I hope this installment of how to buy Commerce Township rental properties will help you buy a great rental home in any city you want.

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Lower Straits Lakefront homes for sale in the last year range in price from $64,000 all the way up to 3.2 million dollars.  The lake has a mixed bag of lakefront properties.  There are 600-7100 square foot lake homes around the lake.  Lower Straits Lake homes are:

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The majority of the homes on the lake are ranches and colonials.  Upper Straits waterfront properties range in age from the 1930's to 2002.  Years ago Oakland County Lakes were a resort destination for Detroiters.  So the homes were small.  Then over the years the lake homes have been added on to, or torn down to build a bigger and better new home will all the new amenities.

Many of the older homes have no basements, but some of the newer ones have a walkout basement.  The homes range from 1 bedroom to 6 bedroom homes, and 1 bath to 3+ Bathrooms.  Some of Lower Straits waterfront properties have no garages and some do.  Click on one of the searches below to find your lake home.

If you are interested in Oakland County lakefront homes, please give me a call or email me at yesmyrealtor@gmail.com

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We got the clear to close today and now what do we have to do when buying Metro Detroit real estate

Now that we are clear to close and have the date and time set up this is what happens next. Your lender sends the closing documents to the title company. The title company prepares the final HUD statement which is the final numbers document. The title company figures out the tax pro rations and put all the closing fees on one document. Then they send it back to the lender for final approval. Then your lender will call you with the final number you need to bring to closing. You lender may not call you until the day of closing with those numbers. Though most of the time they get it to you the day before. If you have an early morning closing they will get it to you the day before. Here is what you need to bring to closing.

• A picture ID preferably your driver's license. You can not close without this.
• The check with the full amount your lender told you. It must be a cashier's check. The title company will not accept personal checks. Have it made out to you and then at closing you will sign the back of it and sign it over to the title company.
• Bring a copy of the homeowner's insurance just in case the title company needs it.

Also before closing be sure to have the utilities switched over into your name. The seller will be shutting them off on the day of closing. So you won't have any lights in the house that night. If the house is a foreclosure you may have switched over the utilities already for the inspection so disreguard this.

• DTE 800-477-4747
• Consumers Power 800-477-5050

If you have any last minute questions feel free to pick up the phone or we will see you at closing.

In the real estate business we see families up close and personal making a big decision. Remember this is the biggest purchase they are making so needless to say we see some good disagreements. It's rough sometimes because different members of the families have different priorities.

Last week I saw one of those days. My clients were Metro Detroit first time home buyers. They had made the decision on which city and which school system was important to them but they were far from being on the same page.

The wife would have bought two houses but the husband wasn't happy with either one. He was ready to up his mortgage limit over $30,000 in order to get a house he wants. I'm sure they both can find a house they like in that range. Would have been interesting to be a fly in that car on the way home.

But my best fight was when the wife really wanted a house, but it was over their budget. My clients were relocation buyers and we were sitting in the hotel lobby. It got so hot that they asked me if I would take their baby out and give them a few minutes.

She was going to have to give up some of her "weekly frivolous shopping budget" in order to get the house. They bought the house but I don't know whether she gave up the shopping budget. I have a feeling the husband gave in on that one.

Russ Ravary your metro Detroit real estate agent

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