All Forum Posts by: Bala A.

Fitzgerald is Okay, not the best of areas, still has a way to go with the Blight demolition as the City is tackling 

- Location 4 out 10 

Sherwood Forest and Palmer Woods are in the 300-700K range and some of them can go for 1M +

They are the top crop of Detroit, 

followed by Detroit Golf, UD and EEV.

Expensive neighborhoods. For eg This one is listed for 809K (been on the market for a while)

https://www.realtor.com/realestateandhomes-detail/1701-Balmoral-Dr_Detroit_MI_48203_M39251-61543?view=qv

http://alyssachia.info/big-house-in-the-woods/big-house-in-the-woods-palmer-woods-mansion-finally-ready-for-its-big-sale-asks-650k/

 Sure Amir, lets connect. 

Investing in Detroit can be both rewarding and daunting (for some). 

It tests your business acumen and the ability to be a Landlord. 

If you can be a landlord here you can be a Landlord anywhere :-)

I would not suggest looking at Detroit as Zip codes - but individual suburbs. 

And blocks within the Suburbs,

Hi Roger, I am interested. Can we connect on your addresses please?

Just FYI - We are cash bulk investors and currently operate 250+ units in Detroit.

Is it on the East or Westside, Brick or Frame?

Location grading?

Look forward to hearing from you.

Many Thanks,

Lol, great to dig up Old posts on Detroit. 

"Downtown will never be vibrant again" - this may well be the quote of the century. 

Along with 

"We don't like their sound. Groups of guitars are on the way out." - Decca Executive in 1962, after turning down the Beatles.

(Not taking a dig at the poster above, it just was said as it was "at that day")

People either saw Detroit as an Opportunity or an Obstacle.

We all know who won this argument. 

Adding to the list :

1) Aviation Sub

2) Berg Lahser

3) Greenwich

4) West Outer Dr

5) Malver Hill

6) Martin Park

These are next Bagleys, Palmer Woods, University Dist which are primed to give a big ROI/Capital growth in the next 3-5 years.

More info here

A 40K home current valued property can be "Free" if there are 10-15K in Back taxes and another 10-15K in Rehab and 5-8K in Utility and is the property is in a Blighted neighborhood where the neighborhood values are under the 30K.

And whether it is a QCD or a Warranty Deed transaction.

They are not "Free" in any way.

Many investors fall in this trap only to realize later.

And complain about a market they "invested".

Due diligence is Key to successful investing.

The questions one would want to ask are, on these "Free house" are:

Even before the ink dries up on the paper I signed to buy, what are my obligations?

And how much will I owe whom?

Hi @Maria Luna

May I kindly suggest that you may wish to consider sticking with Single-family Investing rather than Multi family (especially in Detroit).

On paper Yields would be high on MFRs - agreed.

But one bad tenant (say a dealer) will get all the units empty in a short while. Tenants will drop off quickly.

Secondly, your exit criteria will always be harder.

You can only sell to another investor. And investors seek Yields. Meaning Lowest Sale price to you.

Unlike SFRs you can sell to a Home Buyer and there is an Emotional value attached.

I convert all my Duplex to Single Family homes.

My most recent project was this two family Flat (Two 4 bed 1 bath Units).

Which I have converted to a 9 Bed 2 bath (converted the upstairs kitchen to another Bedroom).

We are running this as a Department of corrections Boarding Home.