All Forum Posts by: Ben Osran

Hey BP!

I am looking to do out of state investing in the Detroit Area. I have a friend who lives in Detroit and we will be partnering up on our first deal so that we have boots on the ground in the area. We are looking to purchase a duplex in the 100-200k range and want a CoC return of around 8-12%. We will be financing our first deal and will be looking for a PM has well. A property that needs little or no renovations would be ideal for our first property.

I am wondering if you guys have any more insight into specific areas that are good to invest in? I ran the numbers on some properties and they meet well above the 1% rule, but that sort of worries me... It seems some of these numbers are too good to be true. I also notice a lot of the school systems are not rated that well. What is your experience investing in these areas? Are you meeting the 1% rule with good cash flow?

Any thoughts or insight would be much appreciated. Thank you!

@Scott Swanson Thanks! I am interested in a price range around 100-150k, and will be financing with a co-sign from my parents for the first deal. I will definitely need a PM, I’ve been reading the forums a bit and have seen Real Property Management and Rose Property Management listed a few times, not sure if you’re familiar or have experience with either. And I’m looking for a cash on cash return of between 8-12% which seems very doable in that area. Another thing that interests me about the area is the South Shore train expansion which will help those towns in NWI commute to Chicago.

Hey BP,

I am about to graduate college and am looking to invest in my first buy and hold rental property. I am mostly interested in buying a SFR for my first one.

I have been looking at NWI because I have a lot of family in the Chicagoland area. Indiana seems to have a much lower cost of entry, property taxes, while still being close to Chicago.

I would love to connect with other investors and/or agents, to get a better idea of the different areas, and possibly connect me with other potential team members.

Any advice would be greatly appreciated!

Thank you