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Newbie interested in Detroit real estate market-Could you recommend a reliable agent?
I am a first time out of state investor interested in buy my first rental property in Detroit that can cash flow after fixing and gain equity. Could you recommend a reliable agent and property manager that I can work with to kick start my journey?
#2 Innovative Strategies Contributor
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- Royal Oak, MI
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#2 Innovative Strategies Contributor
- Property Manager
- Royal Oak, MI
@Hamidou Keita you ant to be careful in selecting an agent and a PMC!
+95% of agents have only done owner-occupied transactions, which are mostly emotional-based. As an investor, you should only make numbers-based purchases.
Also, agents are only transaction-based - if they make a mistake (or choose to take advantage of your naivete) they still get their commission check and can disappear:(
So, a great PMC is often the best choice to start with, since they obviously know the rental market and they have to deal with whatever they help you buy, on a daily basis after the purchase!
PM us for more info.
Hey Hamidou, I'm happy to talk all things Detroit. While I am a licensed agent but I do not focus on MLS deals.
I've been personally investing in Detroit since 2019 and have 12-doors there now. I now live in California and self-manage, but I wouldn't recommend it for first-timers. I have a really strong network on-the-ground.
Outside my own investing I do a ton with other out-of-state investors. If you want some market education or resources I'm happy to send some over if you DM me.
Quote from @Travis Biziorek:Thanks Travis for reaching out to me. Please share any resources you have that may help my investing journey.
Hey Hamidou, I'm happy to talk all things Detroit. While I am a licensed agent but I do not focus on MLS deals.
I've been personally investing in Detroit since 2019 and have 12-doors there now. I now live in California and self-manage, but I wouldn't recommend it for first-timers. I have a really strong network on-the-ground.
Outside my own investing I do a ton with other out-of-state investors. If you want some market education or resources I'm happy to send some over if you DM me.
Quote from @Drew Sygit:Hi Drew, I would like to connect with you. It seems you have a good knowledge of the area.
@Hamidou Keita you ant to be careful in selecting an agent and a PMC!
+95% of agents have only done owner-occupied transactions, which are mostly emotional-based. As an investor, you should only make numbers-based purchases.
Also, agents are only transaction-based - if they make a mistake (or choose to take advantage of your naivete) they still get their commission check and can disappear:(
So, a great PMC is often the best choice to start with, since they obviously know the rental market and they have to deal with whatever they help you buy, on a daily basis after the purchase!
PM us for more info.
Quote from @Hamidou Keita:
Quote from @Travis Biziorek:Thanks Travis for reaching out to me. Please share any resources you have that may help my investing journey.
Hey Hamidou, I'm happy to talk all things Detroit. While I am a licensed agent but I do not focus on MLS deals.
I've been personally investing in Detroit since 2019 and have 12-doors there now. I now live in California and self-manage, but I wouldn't recommend it for first-timers. I have a really strong network on-the-ground.
Outside my own investing I do a ton with other out-of-state investors. If you want some market education or resources I'm happy to send some over if you DM me.
For sure! I just DM'd you.
#2 Innovative Strategies Contributor
- Property Manager
- Royal Oak, MI
- 4,370
- Votes |
- 7,797
- Posts
#2 Innovative Strategies Contributor
- Property Manager
- Royal Oak, MI
@Hamidou Keita waiting for you to PM us...
Quote from @Hamidou Keita:
I am a first time out of state investor interested in buy my first rental property in Detroit that can cash flow after fixing and gain equity. Could you recommend a reliable agent and property manager that I can work with to kick start my journey?
There are two that we have found to be reliable in getting investors into solid deals. The first is the Stephan Group, and the second is Jerry Weaver. Both have realistic expectations and set investors up for success. They know the city like the back of their hand.