All Forum Posts by: Emilio Basa

Hi @Samuel Rogers - I've got one for you. PM me. 

Hi @Cynthia Craft. Tenant selection is extremely important when investing. Almost as important as location. PM when you have a chance. I have a property that would be good for you.

I have to defend and praise @Sean Terry. I've purchased a few wholesaling courses and have closed deals using their techniques. However Flip 2 Freedom changed a lot of the way that I wholesales properties. I've been consistently wholesaling for over a year and this month I have 4 deals I'm ready to close. Thank you to Sean Terry for sharing your information and motivating. 

Also, I've closed on about 7 deals this year with 2 JOBS! I work over 65 hours a week and then wholesale on top of that and still find a way to do it. So there's no excuses. Just go out and find the deals. It's all about hustle and hard work.

@Rebekah Keller - it depends on your investing style. You could focus on cash flowing properties and pay straight cash for a property and collect the cash flow. You could invest in section 8 or other government assistance programs that help lower income renters. The pro is that you get a check from the govt, the cons is what if they cut out the program or the tenant looses their assistance. 

However if you're an investor that likes to purchase with good debt and pull equity out, then I would stay away from paying all cash for cash flowing homes. It'll be hard to pull equity out when a property is only worth $30K and a lenders minimum is $75K. Focus on areas where there's more stability, higher values and up and coming areas where values are growing fast. 

If I had $50K to invest in Detroit then I would focus on the hotter areas and get financing (seller or bank financing). Hot areas are downtown, Midtown, New Center, Grandmont Rosedale just to name a few. I really like the University District. There's a lot of potential there - Please read this: https://detroit.curbed.com/2017/4/5/15191290/fitzg...

Also just google "Detroit revitalization projects" and read the articles. 

There's a lot of potential in Detroit, but that's the tricky thing. Some investors invest strictly on the current numbers and sold comps while others are so hopped up on the comeback of Detroit that they are driving the prices up based on future values that may or may never come. 

Ask her to move in but give yourself a deadline to purchase the home she wants (or come close to). Tell her you can refinance and pull the money out. Show her the numbers. Show her the appraised value after you fix up the multi family and show her what you can pull out when you refinance. Take some of the money for your business, for savings and also for a deposit. The deposit will give you a good idea of what you guys can afford for a home for yourselves.

@Michelle Chowan - I'm a wholesaler in the Metro Detroit area. Oakland, Wayne and Macomb county. 

Thanks @Todd Douglas!

Hi @Michelle Chowan - congrats on your decision to go forward with REI! I'm not sure exactly what you're looking to get into. There are so many avenues to go down. Are you looking for fix and flips or rentals? What area of metro Detroit are you looking into? I see you're from Macomb, but how close to Macomb do you want to invest?

Hi @Roy Gutierrez. I just wholesaled a multi-family just a couple streets away from the Q-Line. Wish I read this earlier. PM me and let's talk. 

Welcome @Chris Ramos! Check out Wendy Patton's group in Troy. Just google "MREI Troy Michigan". I love that group.