All Forum Posts by: Bryan Dracka

Its been on the market since May 1 so not too terribly long, a lot of people have viewed it but no offers yet.

Hey everyone,

I am trying to sell a house in the metro Detroit area (downriver). The place is really small and I haven't gotten any offers on it....I recently moved out of state so selling is far preferred for me as opposed to renting it. The house is in good shape its just a small one bedroom house in an old neighborhood.

I'm looking for any advice on selling it....and alternative options if it does not sell.

Here is the listing: http://www.trulia.com/property/3154571983-1415-Gregory-Ave-Lincoln-Park-MI-48146

Thanks for your time!

http://www.trulia.com/property/3154571983-1415-Gregory-Ave-Lincoln-Park-MI-48146

Tell me what you think of this place.....

In my most recent mailing a multi-family got mixed in with my sfr's and I got a call from a the owner asking how I knew that she "was planning to sell". The owner is retiring and moving out of state soon. Its a 3-unit in a residential sub in Lincoln Park Michigan (Metro Detroit). Each unit is currently rented for $500.

I have never wholesaled a multi-family property before. How do I price it??

Any input would be greatly appreciated, this seller is what I would consider highly motivated!

I am from Detroit, and Curt is exactly right!! These houses for 5k-10k (some are even <1k) need a lot of work, much more than 5k worth. And that is not the worst part, many of these houses are in neighborhoods that are practically abandoned.

That said, these houses are IN the city of Detroit! The suburbs are a different story entirely, no mass crime problems, no vacancy issues. There are actually places in the suburbs where population is rising, demand for rentals is increasing. Certain areas surrounding Detroit are experiencing an uptick despite all the problems with the city itself.

Hey Aaron,

I live about 5 miles east of Taylor, I have some family and friends that have lived there for a long time. A lot of good buys in Taylor right now and the schools are considered to be pretty good. As far as neighborhoods go, I would say the northwest part of the city is probably what you consider the worst, but I wouldn't shy away from investing there. It is a pretty solid blue-collar community throughout, but the southern half of the city is much nicer than the northern parts.

Hi Robert,

The "downriver" area is a good place for rentals. Lincoln Park 48146, Southgate 48195, Wyandotte 48192, these are all blue-collar communities south of the city with good school districts and no serious crime problem like is often associated with Detroit. The home prices here are still fairly low from the crash but they are bouncing back quite a bit in the last year or two and the property taxes aren't too terrible like they are in some cities here. The suburbs directly west of the city are a similar story, there are a lot of rentals in these areas and they do pretty well as far as cash-flow.

Depending on what price range of houses you are looking to buy...the northern suburbs, Oakland County, specifically northern Oakland county is a much more affluent white-collar area.

I hope that helps some!

I was out driving around and found a house that caught my eye, clearly has not been lived in in quite awhile. A neighbor says the man that owned it moved out of state for a job "a few years ago" and has not been back. Not uncommon but here is the part I haven't come across before. The tax and utility records only show the address for the empty house, not a second address where I might be able to reach him at.

What does this mean? The owner just left and "walked away" from the house so to speak?

Very nice job! Looks great!!