All Forum Posts by: Bala A.

Cash is King. 

In any market, and especially in cities like Detroit, it makes A HUGE difference.

Your offer will stand out and you should be able to buy at a Discount. 

(normally 80% of Retail)

And if you are willing to put some elbow grease even 70% of Retail comps.

The logic is simple - The seller does not need to deal with the uncertainty of Financing, Appraisal, etc etc.

As the values are coming highly skewed. And many a time the Sales fall through because of the Lending condition.

Hi Elbert,

I am interested. Let's do this 50:50

I would recommend Verzell Page

http://www.zillowpress.com/pageteam/about-me/

Just being honest, you have Martin Park (which is great) and on end of the scale and then Highland Park (which is selectively on the other end of the scale)

Have to be selective on where you buy. 

I like Aviation Sub, Bagley, East English Village are just some of my favourites.

Feel free to drop me a line if you want more information or to discuss

Interstate investors have long sought out Detroit as a great starting point, due to low level entry criteria. 

And now for the resurgence.

Ensure you work with a good team on the ground.

Equal number of success stories to failure rates at the moment unfortunately.

Hi Marisa,  

May I ask you, what do you need done with the book keeper?

Can they do it remotely...

For my business, I work with Qualified Virtual Assistants who will work your hours and can hit the ground running in a short period of time. And produce results. Key is constant Skype communications.

From Accounting to Digital presence at around 8-15 dollars an hour depending on their skills and experience. 

And they can do part time, but a minimum of 20 hours a week. And no lock in contracts beyond 1 week.

@Ashish Balu

Simple, if you are an entrepreneur, would you invest in Yahoo in 2008 or Google.

In real estate terms, Detroit can be the next Google.

Research the areas though.

As most investors go for cheap junk and wonder why they have not got rent.

It's simple. Because they were blinded by the highest ROI figures.

Don't complain if you bought junk. 

And don't give the city a Bad name because of this.

Buy well. And profit. Kind request.

Simple, if you are an entrepreneur, would you invest in Yahoo in 2008 or Google.

In real estate terms, Detroit can be the next Google.

Research the areas though. 

Don't complain if you bought junk. 

And don't give the city a Bad name, though.

Kind request.

These Detroit homes sold for 125-150K a pop in 2006-07.

Now they are at 35-45K with 850 per month in rents.

And the city is just starting to turn back after the 2013-14 bankruptcy.

So, just like all other American ciy's comeback since the GFC of 2008... Detroit time is now due.