All Forum Posts by: Helena Goyvaerts

@Helena Goyvaerts it will be tough without 2+ years of USA tax returns showing you are profitable.

Higher interest rates have negatively affected most lenders and many of them are getting more aggressive with offering more flexible programs. 

Keep looking, but be prepared for higher interest rates with maybe maximum of 65% loan amounts (hopefully more though).

Hi Helena - 

This can be nuanced, but for DSCR loans there are a few options for you. Are you/your partner(s) foreign nationals or non-permanent resident aliens? Also, are you planning on going through an LLC? If so, then there can more flexibility there.

Happy to connect and chat further if you'd like!

Hi Helena & Tom,

Welcome to the Detroit market—it’s great to see international investors diving in! I’m based in California but have been investing in Detroit since 2019 and have built a portfolio there. Detroit can be a fantastic market with strong cash flow and good appreciation potential, but it’s definitely a unique place with its own quirks.

Starting with cash is a smart move, especially in Detroit, where local knowledge and relationships can make a huge difference. Financing as a non-US citizen might be a challenge, but it’s not impossible—I’d recommend reaching out to lenders experienced with foreign investors early in your journey.

A few general tips:

1. Take the time to really understand the neighborhoods. Detroit is very block-by-block, so knowing the dynamics in the area you’re targeting is key.

2. Reliable property management is everything, especially as out-of-state investors. Make sure you’re working with a team that has a good reputation and understands the market.

3. Be prepared for the learning curve with Detroit—it’s rewarding but comes with its fair share of challenges.

If you’d like more specific guidance or have questions, feel free to DM me. Happy to share resources or insights that might help as you get started!

Best of luck,

Travis

@Helena Goyvaerts welcome to Detroit!

Your first challenge is - you shouldn't buy based upon zip code!

The City of Detroit is block-by-block in many Class B & C areas.

In our opinion, zip codes cover too large an area.

We use Detroit Neighborhoods, which are much smaller than zip codes. Still have to be careful though, with the block-by-block challenge, depending on the Class of Neighborhood.

Also, be sure you understand the difference between the City of Detroit and the suburbs! You MUST understand this as the suburbs are usually much nicer than the city.

All of these challenges are why we have a map of Metro Detroit on our website with the cities in Macomb, Oakland and Wayne Counties listed, as well as 183 Neighborhoods in Detroit.

The majority of the 48235 zip code is Class C, the question is, do you understand what that means?

DM us if you'd like to discuss further:)