All Forum Posts by: Jackson Barr

Thank you for the feedback. I do have a printed sample of a lease, very basic and doesn't include any stipulations outside of the term of lease and tenants/ landlords listed etc. Its a start though!

Greg S. do you have any direct links to legitimate information regarding this topic?Reason being, I have already performed several searches online and many of the listings I've read are either hidden adds for lawyers or just personal opinions. Therefore I'm uncertain to what is indeed fact or fake. Let me know if you have any additional information on this topic. Thank you

As of Last week I am new to BP. I appreciate all the members thus far who have given me beginners advice and counsel. Currently I am working with an agent and looking to acquire my first property with intentions to rent the home out, however before I purchase I would like to get more insight on the rules, regulations and responsibilities of being a landlord. Anyone with more information on this subject please send it my way! 

J.R. King i am right on board with you. i have some good capital saved up and currently interested in those identical areas feel free to message me perhaps we could discuss a potential partnership!

Todd Douglas assuming all goes well and my overall cost to obtain the property and have it on the market as a rental is as low as i expect i wouldn't plan for an exit strategy, if the property is doing well in generating some income I would continue on in that direction. From what Ive seen personally and read about downtown, I anticipate Detroit to come back in a big way over the next decade. For all we know that land underneath those disgusting homes could eventually be a goldmine...

Thank you everyone for the feed back its very reassuring to see people respond with the same views i have on this topic. I am in the process of building a team, as of right now i have a very loyal agent Ive known since grade school she is licensed and the one sharing the properties with me also her charge is free which is even better. I have a well respected realty lawyer on call as well. My credit is bad so i am going at this with my own cash, I know many people would say that's a terrible idea however being new I feel it would be hard or very costly to get a lender on my side, so im going at this head on! The list my agent sent me had roughly 25 properties all priced under 8k I haven't physically viewed them but pulled up pictures off of Zillow to at least get an idea of what I'm looking at. I know I have a lot of work to do before I purchase but first I need to accumulate as much information as possible thank you for the help everyone!!

Hi everyone I would like to start out by saying I am absolutely new to all of this however for the last 6 months I have spent countless hours educating myself towards Investing. I do have some knowledge and great insight on the whole idea however I need some advice from some people who have been exactly where I am today and made it through successfully. 

So my question is, is investing in low cost homes in Detroit MI worth it? Be it as a fix and flip, rental or simply just to acquire the land. Many of the homes Ive looked into are solid structures and some currently habitable. So is it