All Forum Posts by: Chad Harter

Show me the way @Richard Dunlap.  I'm moving there in a few months and I'd love contribute some ground work to your operation in exchange for some tribal knowledge.  Let me know.  

Originally posted by @Richard Dunlop:

Originally posted by @Chad Harter:

I'm trying to understand why so many people stay away from investing in Michigan? 

 ...I realize there is no appreciation, ....@Brandon Turner and @Joshua Dorkin  

???

???

I invest in Detroit and Detroit suburbs BECAUSE the appreciation is better than ANYWHERE else!

 The amazing cash flow is gravy. 

Investment property, or are you going to live in one of the units?  The extra $7000 probably includes escrow money.  

Thanks for the replies.  I'm moving to Michigan from Dallas.  Previously I lived in Phoenix, where I bought a house for $128k in 2010 and sold it last year for $210k.  And before that I grew up on Denver, another market on fire.  So that's why my experience with appreciation is so different than what I see in Michigan.  Nevertheless, that same reason is why I am exited for the move.  It seems like there is much more opportunity to find good deals.  My wife and I want to rent a house in Royal Oak when we first get there, but I have come to find this is nearly impossible. Why?  She grew up nearby and claims this is the spot to be, but it's impossible to find a place to rent.  I might just buy a place there with the intent to rent down the road.   

I'm trying to understand why so many people stay away from investing in Michigan?  There are homes everywhere for 30k.  I realize there is no appreciation, but the cash flow seems great.  $700-$900 a month in rent for a 30k investment.  What am I missing?  Maybe I've just listened to too many podcasts with @Brandon Turner and @Joshua Dorkin  

Are there any websites similar to Zillow that gives estimates of value for commercial properties?

I am a relatively new investor (some experience in AZ) and I am looking to jump into the Colorado Springs market. I have a partner that lives there, and I am currently living in Dallas. We are hoping to carve out a niche within the military community with buy and hold properties. My partner currently owns a SFR with a military family renting it. We aren't sure if their are certain parts of town, subdivisions, ect that have a heavy military presence? Are their programs that subsidize housing for military members? We don't have a realtor yet want to find out if this niche market exists, and if so someone to work with. Thanks.

LoanDepot does 15% down on investment properties.

Does anybody know if there is a podcast episode that focuses on turnkey investing? I am interested to learn more due to my busy work schedule. I want to hear the pros and cons about going this route. Thanks.

I don't know how much house you could afford without knowing current income and monthly debt numbers, but I do know you can get an unsecured personal loan to get some cash quick. Take that cash and put it in your savings account for at least 60 days. FHA only requires two months bank statements to verify your assets, so as long as you leave it there for two months you will have down payment money asap. loandepot.com offers them ranging from 5-35k.