All Forum Posts by: Arsen Atanasovski

Why does Ohio always have to butt in? I know there is a few areas in Ohio that are top cash flow cities on the national list but let’s talk about football. That’s right there is only one, GO BLUE! 

Hello Sunny,

All honesty Bethune is a class D even the outskirts of Bethune are all C/D, Harmony, Fitzgerald, shoolcraft, Hubbell and Schulze. Don’t quote me on this I haven’t even gone on the website but reading Greg’s post I’ve known the guy for years and he is spot on! I own homes in Detroit I do not have bars on any doors or windows, I feel comfortable walking the street with my son if I wanted to. This is the type of streets you should be looking for. And again to be honest how will you brrrrr a deal that low of value? I understand you will rehab it and force the appreciation but how much? The market will only give as much as the comps are. So if your looking at Brrrrrs I would look at communities that have homes right next door to let’s say the target property to be selling or sold at $100k. In those areas you will brrrr no problem and there is a good market for rent. I would look at Bagley, Morningside, north end, east english, and the spill over of these neighborhoods. There is a lot of tension here :). My personal opinion I would tell you to have a close friend of partner that is locally here to be your eyes and feet. Second I would suggest you come by for a weekend and drive the city street by street and just take notes. For an entire weekend driving 10 hours a day you can get a lot of information down and grasp on the area and your plan to brrrrr. I know David Greene has a book but that book doesn’t work for Detroit lol. Good luck and if you need any more information DM I’m more then happy to help you.

 Hey Travis I never knew this I thought it was just your portfolio, where is the office? I want to stop by and maybe possibly pass some properties over to your PM company. Send me the address in a DM man thanks! 

Nicholas actually you can pick a house in Detroit in the $50k to $70k range then in Zillow flip the search to rental your already in the 1-2% rule for renting. I’ve been saying this way too many times. This is not California, Texas or Florida. This is cash flow king :) come by one day I’ll be more than happy to show you around the Motown! 

Send me a DM I have a few deals you might fit right in since you’re going down that route. I will need a little more information so I can get a better idea what would work for you here in Detroit .

Travis are you trolling me??? Jk! About classes Detroit is a street by street city not necessarily by class you have class B and a block away is a war zone so you do need boots on the ground for sure DM me or Travis and I give you some guidance but going solo is a little difficult partnering up would be a little easier and less risk but again up to you. 

I’m a section 8 investor half of those items do not comply, difficult to evict?? Does that mean the city or government can’t pay you rent? Never heard of this never had this happen. Yearly inspections, great I do them 2-3 times a year it’s my property would like to see them and check on them. Have you driven a car and not do an oil change? Of course you don’t get payment until the application and process is complete and approved by the committee then you allow them access and that’s after they paid the SD. Difficult selling? Really? Hi investor, I have 10 vacant homes for sale would you like to give me a “low ball offer”??? Hi investor I have 10 fully leased section 8 tenants oh and btw here is my income statements and all the income from my section 8 properties showing the state of where ever you live depositing into my account, which on do you think you will be better off when time comes to sell??? 

Section 8 and buying properties that positively cash flow. You will never lose them. Let's say you buy a house for X amount your mortgage PITI is $700 your section 8 tenant is paying $1000. Your house drops in value by half, rent doesn't drop my friend so you will be in it for the long run but you won't necessarily lose it. In the early 2000's ppl bought homes that was not affordable and no down in the game easy for someone to walk away. Just do your numbers do them again and again until you know that the deal you're looking at cash flows properly and that my friend makes it recession proof. Hope that helps

Rishi this is a good place to find a PM you can also look at the Detroit area in Zillow see what properties are for rent and see which PM companies are listing them call them up as well. Overall you need to gather up all your findings and what they say start “interviewing” these companies take notes and see which one fits your expectations, the PM doesn’t manage you they manage your asset you are the owner and per say the boss paying the PM for services. It’s similar to an employee because you will be working with them and requesting updates, tasks, etc…. Overall the main goal is for the PM to generate a profit for you. PM makes their income regardless the good companies know how to make good returns for you but it’s up to you to go out there and vet them.