All Forum Posts by: Greg Miller

Hi Radhika!  I can 100% relate with you. Over the last three weeks I've read 7 of the real estate books and spent hours listening to biggerpockets podcasts trying to learn as much as a I can and narrow down my focus. I relate with knowing I want to build my real estate portfolio but feeling overwhelmed with how to choose a market (I live in Seattle which is similar to CA with regards to the price to rent ratio challenges), so I wanted to share my current plan. I have done a couple hours of initial research searching for top markets and have an initial list that I'm researching including Detroit, Memphis, and OH (Columbus, Dayton, Cleveland, Cincinnati) to start. I have spoken with an agent/PM in Detroit that somewhat scared me away from the Detroit market (eviction rate is currently 8% down from 20% 5 years ago and such a different environment that I'm familiar with). I also have learned Memphis can be quite spotty (a dangerous block can be just a couple blocks from a good renting location so you really need a boots on the ground agent/team that you can trust).  I'm less overwhelmed the more I talk with people, and everyone has been helpful and happy to chat with me. Now I realize it is going to take a couple months of talking to real estate investors and agents etc to help me slowly dial in my market territory. I am not much closer that I was a couple weeks ago, but the more I talk with people the more confident I get that I will get there, and you will too in time!  It may not be a bad idea to give yourself a few months to network and learn. Also, I've been asking most people I talk with for references and keep getting in contact with more people, all of whom have been happy to chat for a few minutes. It sounds like you've got the ball rolling in the right direction already, so keep up the great work!

BC is not very friendly to foreign buyers.  I'd look in another province (Ontario isn't any better).  Can't give you suggestions for financing, but for where to buy look at Alberta or another province without foreign buyer.  Having said that, the federal government put a restriction on buying houses if you don't live here.  Not sure when that will end.  It was put in place because the feds have increased immigration for the last ~10 years (over 5M people or 8% of our population) to the point that we now have a housing shortage.

Hello BP community, 

Any Canadians out there who have invested in US Real Estate. What was your plan to manage the property especially when you are not living in that area/ country. I am looking at areas in the border states. Any recommendations for realtors, financers and property management companies who helped you get into and get your first property. Any other suggestions are welcomed. 

Hi Everyone, my name is Carlos I’m from Toronto, Canada. I’ve invested in property in Vancouver and Toronto but have recently decided to take the plunge into the US. Hoping to connect with fellow Canadians that have invested in Detroit and start making local connections too!

Hi,

Very new to BP and real estate investing. I am looking to purchase my first investment property and have been looking into Detroit. It seems that Corktown is one of the best neighborhoods to visit / live in due to all the restaurants, coffee shops, pubs, great walk score, etc. How does Brush Park compare against it? I found a very nice condo over there but the walk score is a bit less and there doesn't seem to be very many restaurants / pubs / coffee shops nearby.

Haven't decided yet if STR or LTR as still early in my research. Any advice here would also be appreciated.

Thanks!

 I have worked in many different markets from KS, to Indi, to Memphis and Detroit. I left them all and have been working in the Cleveland markets for about 10 years, I recall buying one in Detroit about 11 years ago, total disaster, we just walked away, I am sure you can be successful there, however, you better have a SUPER team in place.

All the best  

Very high violent crime in Detroit.  Lots of strong storms.  High maintenance costs.  I know it's cheap but all these factors have to be considered.

Hello guys! I am a Canadian investor planning to invest in Detroit. Looking to connect with likeminded people

Congrats Greg! Looks amazing. I'm sure you had a ton of doubters but you made it happen. Always love seeing these transformations, your are re-shaping the city in a positive way by doing this.