All Forum Posts by: Cynthia Miller

I'd keep the property.  Would you be able  to qualify for a new loan on the multi? If so I'd do that rather than take out equity on the ranch.

There are loans that will use the income from the multi unit.

@drewsygit can I get the name and phone numbers? 

Can anyone refer me to a couple eviction attorneys for Detroit? 

Anna and Russel do you own rentals in Detroit proper?

Have you ever been to Detroit, not midtown or the few good pockets?

Buy a rental here and after about a year I'll wait and see what you post.

Drew, heard it from the eviction attorney. Its apparently in one of the new amendments to phasing back into opening up court that was just decided in the last week. 

From what I understand they aren't implementing it as of yet but it's a plan for later this year. 

I just realized I made a mistake. It's not a certificate of occupancy, it's a certificate of compliance.

Drew, I heard that this year 36.district court will not longer even accept the eviction filing that's a new thing they're trying to implement.

I still have a hard time with the courts forcing a property owner to allow tenants to remain. I wonder if this is legal.  If the property is doesn't have a certificate of compliance and not allowed to be rented, then the tenants should not be allowed to stay.

This is just opening up another door for all the professional tenants in Detroit who try to get free rent.

36th district court in Detroit said later this year it will not accept eviction filings without a certificate of occupancy.

Im wondering if that's legal to force you to allow people to continue to live in your property? 

Does anyone know about Michigan law on weekly rentals? Can they be locked out without court just like a hotel? 

Marcus, I appreciate you detailed response and it is very accurate,, however Detroit is lets say " special" lol.  Almost all of Detroit proper itself is bad except for a few pockets and midtown which is only a few square miles, so one would have to either buy in one of the pockets or go out of the city itself where the numbers just don't make since for rentals.

The properties had been rehabbed as almost all properties in Detroit are going to need that. There is another problem with Detroit in that there are very few  owner occupied buyers.

First there used to be no banks lending in Detroit but that has started to slowly change the last couple of years. The next problem is that the people Wiling to live in Detroit, excluding midtown and a few pockets, do not have the credit, income, down payment etc to qualify for even a modest loan so that makes flipping difficult, unless it's to another investor and then they will want to be at a price point that isn't profitable.

ive been in the trenches since before Detroit was making a " comback."  I manage and do most of the repairs myself. 

It's  hard to find dependable people to work on the houses you have 2 types. The ones that know what their doing and charge extremely high prices that are not coat productive for low income Properties or you have the drug addict or scammer that needs a quick buck so says he can do it all for a good price then tries watching YouTube videos the night before to try and pull it off to make his rent that month.

The tenants are pros,  they will show up polite with paystubs and all docs in hand and once theyre in rent won't get paid and the house will be destroyed.

I drive by my properties weekly and more if vacant. I go in open windows sit on the porch, talk to neighbors and make my presence known. I have had property management and it was the worst from all. If I can't manage when I'm here with boots on the ground they certainly can't from an office in the suburbs.

Since the market has gone up I was thinking of selling and buying elsewhere. 

Its not the city of Detroit that's bad it's the actions of the people who live there. I dont see how this city is going to turn around if the mentality of the people don't change or some fresh blood comes in. It's really a nice city compared to other big cities that's why people come and think it's not so bad.

I'm thinking if selling my Detroit properties and reinvesting somewhere else. I've had nothing but problems with tenants who don't pay and destroy the house. I'm  not making money and its become a big headache.

Has anyone sold anything in the lower income Detroit areas lately and what did you end up getting?

I don't want to leave the house empty on the market for a year and I won't take a loss either. 

Also can anyone can refer me to a good realtor who is familiar with the Detroit market and buyers.