16 2BR-2B Apartments in Ypsilanti

We just posted a new listing of interest to any interested investors.  Easy to care for complex in great shape that we highly recommend.  Located at 1180 E. Cross Street, Ypsilanti, MI and is an asset that will surely go quickly so don't delay in contacting us if you are interested.  

For Sale: Well maintained, under rented apartment complex for sale.  New "Lifetime Roof" by Mr Roof. Most units updated, some completed renovated with floor plan updates.  Units have own gas fired furnaces paid by tenant with wall AC units.  Two buildings of 8 units each.  Each building has common coin op laundry with tenant storage lockers.  Multiple offers.  Three op statements have been linked here for your review.  Note they are organized as current, mid range and future goal for full market rents since these units are vasty under rented due to long term ownership.  

Call asap for status.  SEE VIDEO BELOW OR MORE PHOTOS AT THIS LINK

Watch Video for More Info

Tom Stachler is a state licensed broker for over 30 years with expertise in income property sales and management.  Also favors residential Home and condo sales in the Saline, Ypsilanti, Ann Ar bor real estate markets.  Reach out to us if you need a REALTOR agent to help with any realty issue or question and goal.  This property is located at 1180-1198 E Cross St, Ypsilanti Michigan

As a real estate broker, I often get asked about the different types of investment and commercial properties available in the market. To help my clients make informed decisions, I've put together a quick overview of some of the most popular options, as well as a simple explanation of three key metrics used to evaluate real estate investments: Gross Rent Multiplier (GRM), Capitalization Rate (Cap Rate), and Return on Investment (ROI).

1. Office Buildings: These listings are typically leased out to office tenants, and are commonly found in central business districts.

2. Retail Properties: Retail properties can be anything from strip malls to large shopping centers, and are leased out to retail tenants.

3. Industrial Properties: These properties are used for manufacturing, warehousing, or distribution and are typically larger than other types of commercial properties.

4. Income Properties: These properties are made up of several units that are rented out to individual tenants.

GRM is calculated by dividing the property's price by its annual rental income. It provides a quick way to compare similar properties, and helps to identify properties that are over or undervalued.

Cap Rate is calculated by dividing the property's net operating income by its purchase price. It provides a snapshot of the property's expected return on investment, and helps investors to determine whether a property is a good investment opportunity.

ROI, or Return on Investment, is a metric that measures the performance of an investment. It is calculated by dividing the investment's net profit by its cost, and is expressed as a percentage. It provides a clear picture of how much an investment has earned relative to its cost, and is a useful tool for comparing different investment options.

Understanding these metrics is crucial for making informed decisions when investing in commercial properties. As always, it's important to consult with a knowledgeable real estate professional to ensure you make the right choices for your investment portfolio.

In conclusion, as a real estate broker with 30 years of experience, I bring a wealth of knowledge and expertise to the table. My experience as a property manager has given me a deep understanding of the complexities of commercial properties, and I use this knowledge to help my clients make informed decisions when selling or purchasing properties. I have a proven track record of successfully navigating the real estate market, and I have the skills and resources necessary to help my clients achieve their goals. Whether you're looking to sell a commercial property, purchase a new investment, or simply need advice on the current market, I am here to help. With my extensive experience and comprehensive knowledge of the industry, I can provide you with the guidance and support you need to make informed decisions and achieve your goals.

"Why Income Property is a Good Investment in Saline, Michigan by Tom Stachler, Real Estate Broker"

As a real estate broker in the Saline, Michigan area, I am often asked about the best investment options for those looking to grow their wealth. While there are many different types of investments, income property is a smart choice for those who want to generate consistent income and potentially enjoy long-term appreciation. Here are just a few reasons why income property is a good investment in Saline, Ypsilanti and Ann Arbor markets.

1. Generates consistent income: Income property, such as rental properties or commercial properties, generates income from Rent or leases. This provides a consistent source of income that can help to offset other expenses and provide a stable financial foundation.

2. Potential for appreciation: Over time, property values in the Saline area are likely to increase, providing potential for appreciation on your investment. In addition, income property may also generate income through rent increases, helping to increase the overall value of your investment.

3. Tax benefits: Owning income property in the Saline/Ann Arbor can provide a number of tax benefits, such as deductions for expenses related to the property and depreciation. These tax benefits can reduce your overall tax liability and help to maximize the return on your investment.

4. Diversification: Diversifying your investment portfolio is an important strategy for managing risk. Adding income property to your portfolio can help to diversify your investment portfolio, reducing your overall risk.

5. Potential for passive income: While owning income property does require some work, such as finding tenants and managing the property, it has the potential to generate passive income. This means you can enjoy the benefits of owning income property without having to work for it.

In conclusion, owning income property in Saline, Michigan can provide a number of financial benefits, including consistent income, potential for appreciation, tax benefits, diversification, and the potential for passive income. If you have any questions or need help finding income property in the Saline area, don't hesitate to contact me. We have income analysis field sheets to help you organize the numbers and the rate of return etc

Uplevel Your Rental Property to Better Appeal to Tenants

Your rental – whether it’s a Home, an apartment, or a vacation rental – needs to be consistently occupied by tenants to be profitable. Fortunately, finding tenants is easier than ever – more people are renting than ever before, says a Policygenius report. Moreover, Rent prices are soaring nationally, meaning you can pull in good rent.

Still, just because finding tenants is easy doesn’t mean you can keep them. Tenant turnovers are a thing and can cost you thousands of dollars in lost revenues yearly. And then there are problem tenants – people who don’t pay rent on time, damage your property, and are bad house guests in general.

An appealing, top-tier property typically solves all these problems by attracting “high-quality” tenants – people who want to live there longer, are willing to pay more, and generally don’t make a mess. Here, Tom Stachler offers some suggestions on how you could upgrade your property to make it more desirable:

Make it pretty

Beautifying the property’s interiors and boosting the curb appeal will always score brownie points with tenants. You don’t necessarily need to spend a huge amount of money on this (although you can). Some affordable aesthetic upgrades are giving it a fresh coat of paint, planting a garden, deep cleaning the interiors (and carpet), putting up a painting, getting new curtains, and letting in more natural light.

Provide in-demand amenities

Functional upgrades let you command a premium price for your rental. Some in-demand amenities are washers, dryers, furnishing, extra-spacious rooms, home offices, patios, luxury kitchens, luxury bathrooms, landscaping, high-speed internet, and air-conditioning. Do your research and calculate the ROI before you make expensive upgrades.

Get good reviews

If you own a vacation rental, good reviews mean everything, and good PR (which involves bad review management) will make you significantly more profitable. People will flock to a property with good reviews and hosts who care. A single bad review can scare people off. Bad reviews are less of a worry for traditional landlords, but landlord review sites do exist and are worth keeping an eye on.

Be responsive to repair (and other) requests

Regularly maintaining and repairing your property is one of your obligations as a landlord. Too many landlords are tardy or lax about it, though. Needless to say, nothing turns a tenant off like a crack in the wall, a leaky faucet, or chipped paint crucial. Being responsive to help requests is essential to keeping tenants on, long-term.    

Advertise with high-quality pictures and a digital brochure

Advertising is essential if you want to find more tenants. To make a bigger impact, be sure to include high-quality pictures to allow people to visualize your property (and imagine themselves living there). Making a PDF brochure to showcase your property can be worthwhile. You can include key details about the home alongside pictures. You could email the file to potential tenants. You can quickly edit a PDF online to add pictures and text, change the page order, and more – all without having to print anything out. Simply upload the PDF file online, make changes, and download it again.

Make an LLC to be more credible (and protect yourself)

Establishing a limited liability company for your investment property offers multiple advantages. It makes you look more professional and organized, for one. For another, it protects you and your assets from litigation. To form an LLC, you can hire a lawyer or use a formation service (which is much cheaper). If you go with the latter option, read reviews to find the best service available.

Find good partners

Working with professionals can make your property easier to manage. Although it can be a bit of an investment, it can pay off in the long run (and save you time). You could, for instance, hire a property manager to take care of everything in your stead. You could hire a cleaning crew and handymen for maintenance and repairs. Last, but not least, you could partner up with an experienced realtor to find more desirable tenants faster.

Conclusion

When everything is said and done, being a landlord is being a part of the service business. Focus on being a good host, partnering with the right people, advertising yourself, and safeguarding your assets by forming an LLC. Your reward will be a steady, passive source of income that only grows with time.

Tom Stachler is a licensed Real Estate Broker in the State of Michigan.  Contact us for Investment/Income and Commercial Property Inventory listing and purchase assistance.  We have apartment, duplex and single family income properties as well as vacant and built out commercial property.  

Thank you Melanie Nelsen for your contributions

Upsizing in Retirement: 3 Major Reasons
to Purchase a Larger Home

(Photo via Pexels)

More often than not, the discussion of Buying a home in retirement usually centers around downsizing. In 2017, 12% of home buyers aged 45-64 decided to downsize their homes (as reported by PressConnects.com). Moving to a smaller dwelling offers the benefit of reduced cleaning and maintenance, less clutter, and affordability.

However, when it comes to home buying, one size certainly doesn’t fit all. Whether you recently retired, or have been retired for years, there are many valid reasons for doing just the opposite of downsizing: upsizing.

To see if upsizing is the right decision for you, read more from Ann Arbor real estate expert Tom Stachler about the three major reasons to purchase a larger home.

Starting a home business

For some, the definition of a fulfilling retirement doesn’t include bonus leisure time. In fact, AARP reports that more retirees are becoming entrepreneurs than ever before.

If you plan to enter the world of business ownership, it is important to consider whether your current home can fully accommodate your needs. This is especially true for those who plan to open a business that requires inventory storage, or who will be selling heavily regulated products (e.g. baked goods, meals).

Also, be sure that your home business complies with all licensing regulations. This can be extremely important if you want to form a Michigan LLC (which offers tax advantages and the benefit of limited liability). Because each state has different rules related to forming an LLC, do your research prior to moving ahead. To save time, money, and effort, use a formation service as an alternative to expensive hourly lawyer fees.

Accommodating the whole family

Nothing is better than spending quality time with loved ones. If you’ve welcomed new in-laws and grandchildren over the years, your current space may no longer suit your family’s needs.

Many retirees desire more space to accommodate their children, their children’s spouses, and their grandkids. If you want enough rooms and square footage to entertain, host overnight visitors, and make memories for years to come, upsizing could be the right choice at this stage in your life.

Pursuing a cherished hobby

Have a hobby that could take up an entire room (or two)? If your existing home no longer allows you to pursue a cherished hobby due to space constraints, it might be an excellent time to buy something larger. With time to dedicate to this passion, why not see how far you can take it?

If your spouse also has a hobby that could benefit from extra space, you’ll definitely want to explore properties that can accommodate both of your wants and needs.

Factors to consider when searching for the right home

If one (or more) of the above apply to you, it could be time to find an upsized space to call your own.

As you plan your move, start by calculating your budget. You can use an online calculator to help determine your monthly budget/mortgage payment. Be sure to factor in the estimated equity from the sale of your current home.

Also, make a wish list of features you’d like in your new home. Consider how much land, rooms, and square footage you want. Think about the specific features you’ll need for entertaining, running a business, fully realizing your hobby, and so on. Next, connect with agent Tom Stachler, who can help you zero in on Ann Arbor properties that fit the bill as you begin your search.

No matter your vision, the right upsized home can help your retirement be the most joyful and rewarding time of your life. Whether you want to make more amazing memories with your family, or fully realize a lifelong dream, a home suited to your needs awaits.

Want to upsize to a stunning home in Ann Arbor? Tom Stachler is the area’s leading real estate professional, with over 30 years of experience in the local community. Get started by calling 734-996-0000.

Fannie Mae Assistance Options for Homeowners Impacted by COVID-19

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) wants to help ensure families are given options in these uncertain times in the case of job loss, a reduction in work hours, illness, or other issues. We want to remind those impacted by COVID-19 of available mortgage assistance and relief options. Under Fannie Mae's guidelines for single-family mortgages:

• Homeowners who are adversely impacted by this national emergency may request mortgage assistance by contacting their mortgage servicer
• Foreclosure sales and evictions of borrowers are suspended for 60 days
• Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months
• Credit bureau reporting of past due payments of borrowers in a forbearance plan as a result of hardships attributable to this national emergency is suspended
• Homeowners in a forbearance plan will not incur late fees
• After forbearance, a servicer must work with the borrower on a permanent plan to help maintain or reduce monthly payment amounts as necessary, including a loan modification

Fannie Mae also offers help navigating the broader financial effects of this national emergency to homeowners with a Fannie Mae-owned mortgage through its Disaster Response Network*, including:

• A needs assessment and personalized recovery plan
• Help requesting financial relief from insurance, servicers, and other sources
• Web resources and ongoing guidance from experienced disaster relief advisors 

Homeowners can find out if they have a Fannie Mae-owned mortgage and access to the Disaster Response Network™* by visiting www.KnowYourOptions.com/loanlookup.

"Our thoughts are with everyone who may be impacted by COVID-19 and we urge you to stay safe and well during these unprecedented times. Fannie Mae, along with our lending and servicing partners, is committed to ensuring assistance is available to homeowners in need. We encourage residents whose employment or income are impacted by COVID-19 to seek available assistance as soon as possible," said Malloy Evans, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae.

Homeowners can reach out to Fannie Mae directly by calling 1-800-2FANNIE (1-800-232-6643). For more information, please visit www.knowyouroptions.com/covid19assistance.

About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the Home Buying process easier, while reducing costs and risk. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

Tom Stachler is a licensed realty broker and retired builder working in the Ann Arbor, Saline, Dexter,Ypsilanti, Milan and surrounding Michigan communities.  Check out the Links herein for more topics and information

Investment Properties 101: How to Get Started

There are many different kinds of investments that can make your money work for you. One lucrative option: rental real estate. Ann Arbor is a desirable city with plenty of locals and tourists looking for space. If you can capitalize on that energy and make your mark in the local rental scene, you may be able to dramatically increase your monthly income.

Investment Property Options

Real estate investment comes in many different shapes and sizes.

Single-Family Investment Property

Starting a Vacation Rental Business: An Investor's Guide           

Commercial Real Estate Investing Guide - How to Get Started

9 Ways to Invest in Real Estate Without Buying Property in 2019

Expenses and Income

You can’t make a profit if you’re not paying attention to your cash flow.

How to Get Financing for Rental Properties

How to Set the Perfect Rent Price for Your Rental Properties

How to Price Your Vacation Rental to Maximize Your Income

25 Rental Property Expenses Investors Can't Afford to Forget

Getting to Work

Although some sources call Rentals “passive income,” you can up your profits by taking an active role in your property.

What It Takes to Be a Landlord

How to Market Your Vacation Rental on Social Media

When Should a Landlord Hire a Property Management Company?

Fixing Up Your Investment Property for Rental Income: Where to Splurge, What to Skip

Property Management Supply List

Self-Storage for Rental Property Upkeep Equipment (Avg. Price $84)

Are you ready to become a landlord? If so, these resources will guide you through the process of getting started with your own investment property. With hard work and the right knowledge, you can take the Ann Arbor rental real estate market by storm.

Tom Stachler is a commercial and residential real estate broker working in the Saline, Ann Arbor, Ypsilanti, Dexter and surrounding communities.  He has also been a income property manager for and advisor for over 30 years.  Contact him today for more information, listings and advice.  

Disagree with your local Assessor - Paying to much for Property Taxes?

It is that time of the year again when property owners get their assessments for the local assessor.  If you feel the amount is too high, check out the video below and let us know if you have any questions.  

If you do not wish to appeal yourself (it's an easy process) then there are attorneys I can recommend who will do this for you.  The initial process with the local tax board of review is free and they will give you 10 minutes to make your case then get back to you two weeks later.  If you disagree with their determination, then the appeal application to the state is free for your Home or $75 for investment property at this state level. 

Check out the suggestions in the video and keep in touch.