All Forum Posts by: Jay Jonez

@Matt Hurley thank you for your feedback. Yes the two duplex were in Norwayne. So glad you gave me insight about it. I don’t really know Westland that well. What are some good areas (sub division names or cross streets)

@David Lecko thanks David yes this make sense I’ll add the video response to my process, right now I’m doing an audio response. Your right about getting the interest I post last night and a flood of applicants today.

-BTW all thanks to deal machine for my last 2 deals it's the reason I'm looking into a VA ( it will pay for the new VA ). Double thumbs up

Hi everyone,

I have been wholesaling and been able to save up some capital and wondering if Westland Mi is a good place to invest. I'm seeing alot of duplexes around $80K-$88K and been running numbers on them and the ROI is pretty good. But wanted to know if anyone could shed light on if its a good area to buy a multi family and if there anything I should look out for?

Hi Xee,

 Don't give up! Just make sure to pick one marketing strategy and be consistent with it everyday (or 5-6 day a week). I know it feels like nothing happening but continue to push yourself. If it worth it sometimes it wont be easy. 1 month can be a life changer and you could close multiple deals,  just believe it don't lose confidence you got this. Doesn't matter how long it takes just keep moving forward 

@Annette Hibbler I’m looking to invest in the Oakland county and Macomb County areas. If I can find duplexes in those area that would be great but not shying away from single family.

Hi my name is Jay Jones, I’m a wholesaler in the Detroit/ Metro Detroit market. Next month will be a full year using the wholesale method to build capital (crazy it’s been a year already). I’ve been blessed to close 6 deals.

I’ve been able to do it without a mentor. But there are times I would like to bounce off ideas . Anyone in the Detroit/ Metro Detroit market willing to team up as a mentor?

Hi my name is Jay Jones, I'm a wholesaler in the Metro Detroit market. I'm looking to expand into buying assets to build passive income. I want to use the BRRRR method to buy my first property, I prefer to get a duplex but not canceling out single family properties. I'm looking to buy in the suburbs (Southfield, Oak park, Warren, Sterling Heights, Redford etc.) . Not interested in the Detroit market unless it's in the historic areas.

I would like to know what private lenders are on BiggerPockets? Also what there ending criteria is?

@Alex Detroit hey Alex I completely agree with you. That’s why I feel a little uncomfortable putting in under contract. I may just team up or get a referral fee from one of the guys doing deals in Detroit.

I been doing well in the Metro Detroit (everywhere else except Detroit) market and may just need to focus on that .

@Travis Biziorek hi thanks for your reply I do agree with you on some of The Points. That’s exactly why I want to make sure I get something good in the city. I don’t have a problem with Metro Detroit properties just seems Detroit ones.

I been to a few of the boilers room there great helped me to comfortable with cold call with Todd. Me and Todd actually closed a deal to gather in February he’s a great resource.

THE ISSUE :

Okay so I’m going to ask the dumb question. I been wholesaling going on a year and majority of my deals were out of the city of Detroit except one.

I’m having trouble closing deals in the city. I’m still learning the hot zip codes but even then it’s based on the how the block look (if it’s brick, tenant occupied and etc) . It seems I get the property in my eyes low but won’t get bites on it. I have two properties right (48204 and 48224) where both sellers are asking $14K. The problem is I don’t to get under contract just to not find a buyer and back out.

MY QUESTION?

I need help analyzing deals in the city of Detroit (so I’ll know when a property is a good deal or not). What things to look for? What areas to avoid?

ANY HELP WOULD BE APPRECIATED