Madison Heights, Michigan (PressExposure) February 23, 2011 -- Homes for sale in Farmington Hills MI, division of My First Michigan Home, owner Darrick Scruggs, gave a free talk at the Real Estate Round Table at Wayne County Community College (WCCC) on Thursday, February 17, 2011. He gave tips to investors, making suggestions about how to rehab your property and keep your profit. The website for his company's newest division is located at http://www.homesforsaleinfarmingtonhillsmi.com.
One of the biggest ways that real estate investors lose money is that they mismanage their repairs. They underestimate the cost or the amount of repairs needed, and that kills an investor since that can eat most or all of the profit margin that they planned to make on the deal.
Many of Darrick's suggestions seem to be common sense, but when money is involved, common sense just does not seem to be that common. For instance, one way of getting a good painter is to go to the paint store. Another common sense suggestion is to watch your repair budget. He also reminded us to negotiate to board up your vacant home if your home is in a rough neighborhood, which is something that should be obvious, but it is amazing how often people skip this step.
Plus he made less obvious but important suggestions. He suggested that if you are in a bad neighborhood, pay for 3 years worth of security. If the home is vacant, it will slow, if not deter, thieves. It also is a potential selling point to prospective renters that they receive paid security service. Mostly, it just helps protect your property.
Scruggs' company, My First Michigan Home, is part of his vision of helping so many people find the missing piece of the real estate equation. He aims to make this division of the company the ongoing answer to people's questions--both home buyers and investors.
He wants to find ways to grow his company by helping local area home buyers-not just by finding any homes for sale in Farmington Hills MI, but he wants to help them find the right one. He knows that is how he will likely get the passionate referrals that he usually gets.
Scruggs spent his childhood in Detroit but has lived in Farmington Hills for the past 10 years. He truly understands the buyers who are moving from Detroit into a suburban home but do not know where to start. His daughter attends Farmington High School. He's even been a business owner in Farmington Hills, and he has close associations with other local business owners.
Darrick has been a real estate investor and has bought and sold over 150 properties. He owns another real estate company that controls over 75 properties.
He can help property wholesalers, landlords, and rehabbing investors. He knows that you need to make a good return on your investment and has a team in place to help you find that right property. Plus, he has his own crews to help the beginning rehabber who wants to buy investment property but does not have repair crews.
If you would like to learn more about him or how you can buy homes in Farmington Hills MI, you can call him at his office at My First Michigan Home at (248) 796-8616 or visit the website for more information. To see some answers to some of your potential questions, you can visit http://www.homesforsaleinfarmingtonhillsmi.com/p/faq.html.