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Updated almost 2 years ago on . Most recent reply

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Deiontae Nicholas
  • Rental Property Investor
  • Detroit, MI
2
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Looking to Househack Duplex in Detroit

Deiontae Nicholas
  • Rental Property Investor
  • Detroit, MI
Posted

Hello everyone! Just submitted an offer for a duplex in Detroit - Bagley District Neighbor hood. It's listed at 160k with 6 bedrooms and 2 1/2 bathrooms. I've been looking for a deal for over a year now and this looks promising for my first househack. I'm currently 26 years old with a fiancee and it's been my goal to create passive income through real estate since I read Rich Dad Poor Dad in 2018. I'll post the listing here but any feedback or suggestions would be helpful. I submitted a FHA offer today and will be awaiting the listing agent's response soon!

https://www.zillow.com/homes/1...

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Drew Sygit
#1 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
5,452
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Drew Sygit
#1 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
Replied

@Deiontae Nicholas hope you have a good clause in your offer about FHA repairs, cause FHA appraiser highly likely to have a field day with this property.

You may want to start looking into an FHA 203k loan that will allow you to finance needed repairs.

For 203k you will need a licensed contractor to bid the repairs.

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