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Updated almost 4 years ago on . Most recent reply
Looking for a lender for a 25-unit portfolio in Detroit, MI
I'm considering buying a 25-unit portfolio in Detroit, MI of houses - with value per unit starting at $30k and going up to $150k.
Has anyone had good experiences with a lender that can take a portfolio approach and offer a competitive rate?
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Drew Sygit
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Drew Sygit
#2 Managing Your Property Contributor
Property Manager
Agent
Pro Member
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
There are some lenders here on BP, you can look up.
I'd be cautious about a $30k Detroit house. High probablitity of being in a Class D neighborhood.
Make sure you have your own inspections done and find a good PMC to give you their opinion BEFORE you buy.
You might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant:
- Drew Sygit
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- 248-209-6824
Logical Property Management.
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