All Forum Posts by: Andrew Alson

@Roni Elias

I know you’re just relaying what you’ve heard likely from word of mouth or wherever else you’re getting your information but this is just off base. Michigan isn’t a small state there is plenty of areas seeing average or above average appreciation. Sure there’s also plenty of areas with those high trademark Midwest cash on cash returns in exchange for giving up appreciation, to run with the notion that the whole state is that way is... off base.

I grew up and live in Ann Arbor and anyone from the area can tell you how THAT’S went in recent years.

@Nicholas Burrell like I said Ann Arbor native but buying first investment property within our next-door neighbor Ypsilanti. Shoot me a PM to chat and maybe we can set something up. Hope to speak soon and best of luck with your networking and investing journey. We live in a great state for it, and there’s definitely areas to strongly believe in long term.

Is the property paid off? If not, did you leave out your mortgage payment on purpose? What's your total PITI?

I agree with @Sarah Lorenz above me. If the numbers continue to work why get rid of it? Do you have other opportunities? Can that money work for you better than it is now? What are your thoughts on the area and the property in general? Help us understand the motivation behind the decision. 

Side note, that Zestimate figure is most likely pretty inflated as of course they don't know what you do about the inside of the home.

I'm also an agent in the area, feel free to message me and I'd be happy to help you determine the ARV (or the value now, if all you're going off are the Zillow-like estimates). Once we nail down the numbers you'll be able to determine which repairs would maximize your profit on the potential sale.

+1 for Green Block as per the recommendation by @Michelle Costello. Yoav & Marcia Gilad are extremely knowledgeable, genuine, and helpful. They are worth having a conversation with. 

https://www.greenblockinc.com/

For those looking for an Ann Arbor based meetup group (@Devin Drowley & others), check out the Ann Arbor Real Estate Investor’s Club (A2REIC) on Meetup.com.

There are many REI meetups in and around Ann Arbor, but this is the most active I've found and prioritizes networking, education, and getting people to take action. There is a membership fee but your first events are free to test the waters. Brian Bundesen who runs the group provides lots of value (and is another good person to know)!

If you decide to attend any of the upcoming meetups, I look forward to meeting in person! Good luck.

https://www.meetup.com/real-estate/

Congratulations on your investment, Joshua. I’ll be following your progress! Best of luck.

Welcome to Michigan, Jeff. If you’re moving soon in time for winter, then that’s something to look forward to right there. Detroit is very block-by-block and street-by-street so learn the city! There’s money to be made. Good luck.