All Forum Posts by: Jim Bowser

yes but we have already received 2 offers and will decide on all the offers by tomorrow night.  Let me know if you want to see it. It would have to be tomorrow.  Jim

7203 Studebaker. $8,000 - $10,000 will make this a steady $750 per month 2 bdrm rental. Taxes well under $100 per month - great return! With $10,000, that's OVER 20% CASH ON CASH RETURN!

Large living room and kitchen. Also large fenced yard. On crawl, no garage, side driveway for parking. Mostly cosmetic - paint and flooring. Only minor touches needed to kitchen and bath. Furnace located in and storage available in attic - access to attic from hall and folding stairs need minor repair. Electrical and plumbing have been upgraded in past. Prior owner says furnace and hot water heater work well. Needs a stove. Some glass in wood windows will need to be replaced.

Asking $15,000. Cash Purchase only. $1000 non-refundable earnest money due at signing. Need proof of Funds if you have not bought from us before. Selling my assignable interest in the Purchase Agreement. Selling "as-is" - must do your own due diligence.  Buyer will get a Warranty Deed.

Dropbox link: https://www.dropbox.com/sh/tuw27hf968kfc8m/AAAR4HeXkiurUHtqY4YsNMeLa?dl=0

Jim Bowser

[email protected]

(586) 242-6238

$8,000 - $10,000 will make this a steady $750 per month 2 bdrm rental.  Taxes well under $100 per month - great return!  With $10,000, that's OVER 20% CASH ON CASH RETURN!

Large living room and kitchen. Also large fenced yard. On crawl, no garage, side driveway for parking. Mostly cosmetic - paint and flooring. Only minor touches needed to kitchen and bath. Furnace and storage available in attic - access from hall and folding stairs need minor repair. Electrical and plumbing have been upgraded in past. Prior owner says furnace and hot water heater work well. Needs a stove. Some glass in wood windows will need to be replaced.

Asking $15,000. Cash Purchase only. $1000 non-refundable earnest money due at signing. Need proof of Funds if you have not bought from us before. Selling my assignable interest in the Purchase Agreement. Selling "as-is" - must do your own due diligence.

Dropbox link:  https://www.dropbox.com/sh/tuw27hf968kfc8m/AAAR4HeXkiurUHtqY4YsNMeLa?dl=0

Jim Bowser (586) 242-6238

[email protected]

Another thought on this property is that it could easily be turned into a Duplex bringing $1500 to $1800/month rent.   But I think the highest return, would be as an Air BNB.  Tremendous Potential!!

I think you have to be smart about the city of Detroit. There are some obvious hot areas and those decisions are relatively easy. Then there are some other areas that are reasonably good investments but it takes a more thorough knowledge of the area and other conditions. But if there is another housing recession, it would stall everything again, and cause you to lose your investments if you are not careful. The hot areas would probably endure. The problem is, it is hard to find reasonable opportunities in the obviously hot areas right now. Real opportunity exists in the future developing areas and if you invest carefully and don't over extend yourself, you could probably survive a downturn. Then, during the downturn, you could expand your position and emerge in a much better situation as things recover again. But if we never have any downturn in the economy (when is that ever happened?) then you're in even better shape. So to me Detroit City is a good area as long as you are careful.

      GREAT PROPERTY AVAILABLE IN DOWNTOWN DETROIT’S NEW CENTER AREA

                                                         OFF MARKET

Location! Location! Location! This gorgeous brick “Craftsman” style home in one of the most sought after redevelopment areas in the city (New Center Area)! This prime property is located within walking distance to the Henry Ford Hospital, Motown Museum, Sports Arenas, Convention Center, shopping, freeways and much more!

7409 POE ST, DETROIT, MI 48206 LARGE “CRAFTSMAN” STYLE HOME

$75,000.00 “CASH ONLY” DEAL.

Built in 1914. Existing 3/1.5, 2040 Sq. Ft., not including a very usable basement and 3rd floor attic

Possibilities: Up to 7 bedrooms, 3 Bathrooms - depending on your design and the plan you have!

TWO OUT OF THE FOUR ROOMS ON THE 1ST FLOOR COULD BE GREAT BEDROOMS, 3-4 BEDROOMS ON 2ND FLOOR, ADDITIONAL SPACE FOR BEDROOM AVAILABLE IN LARGE ATTIC, AND BASEMENT GREAT AREA FOR ENTERTAINING. STILL A LARGE ROOM ON 1ST FLOOR AVAILABLE FOR ENTERTAINMENT AND ANOTHER ROOM FOR THE KITCHEN.

Many possibilities: Could be a SFH or SFR, OR could be multiple room rental with common kitchen and bathroom OR

VALUE COULD BE EXTREMELY HIGH AS AN AIRBNB HOME GIVEN THE AREA

NEXT TO THE SOUGHT AFTER NEW CENTER AREA, ACROSS THE STREET FROM HENRY FORD HOSPITAL

*JUST DOWN THE STREET FROM MOTOWN “HITSVILLE’ USA, FISHER BLDG, AND CENTRAL DISTRICT.

*MINUTES FROM CONVENTION CENTER, DOWNTOWN DETROIT, AND SPORTS FACILITIES FOR THE TIGERS, LIONS, RED WING AND PISTONS.

*MUCH SOUGHT DEMAND FOR NIGHTLY AND SHORT-TERM LODGING IN DOWNTOWN AND NEW CENTER AREA

Solid Structure and well maintained exterior – needs exterior painting to bring original colors back

House has been emptied out and is ready to be rehabbed to your plans.

Exterior and interior photos:

https://www.dropbox.com/sh/suqplls4i8xcecj/AABftq6-JBeZ2V35rFpVmwgma?dl=0

**NOTE** To view recent economic development in the New Center area of Downtown Detroit, google Motown Museum expansion and Detroit Pistons/Henry Ford Hospital development.

Seller will provide a Warranty Deed. Must show proof of funds. Must have a $5000.00 non-refundable earnest money on deposit with the title company along with a signed assignment contract. Sold “as is”. Buyer would be purchasing my assignable interest in the property. Contact the undersigned for a showing of the property.

Jim Bowser - Property Solutions Team, LLC - [email protected] - (586) 242-6238

WARREN, MICHIGAN TURNKEY RENTAL - $25,000

--- OFF MARKET –

8243 Maxwell Ave, Warren, Michigan 48089

Cute, cozy, completely updated 2/1, 842 Sq. Ft., 2 car detached garage w/ tool/storage shed attached to back of garage. Double wide driveway and newly poured walkway to front porch. Patio w/ nice sized treed lot. Low maintenance w/ long-term (6 years) tenant. Current rent is $500/mo plus utilities (except water which averages $30/mo). Some minor sheetrock patching and painting needed and tenant has said will agree to rent increase. Rental averages for area would easily support $700 to $800/mo. New owner may have the above stated few repairs to contemplate – but not much folks!! If turnover to much higher paying tenant, maximum work for a new tenant would be $2500. But if existing tenant stays and accepts a rent increase to $600-650/mo, maximum repairs $1200 (sheetrock patching and painting). Furn, HWH, Roof, Air, Elec, Plumbing – all good!!

*We are selling our assignable purchase contract on this property

*Warranty Deed.

*Owner selling as has health difficulties and sister handles through POA and she is

older and doesn’t want to be landlord.

*Taxes: $1056/Year

*Showings by appointment only. Please don’t bother tenant.

*$2500 nonrefundable EMD required.

*Seller pays all current and past due taxes and water charges.

*Buyer pays all closing costs.

*Sold as-is. Proof of funds required with all offers.

*First one with signed assignment contract and EMD gets the deal.

Please contact me if questions and to facilitate inspection.

Jim Bowser

Cell (586) 242-6238

Fax: (586) 745-961

[email protected]

Folks - I'm sure there are valid points on both sides. The key is the Investor and the property management company need to be on the same page. That is, the investor's expectations need to equal the prop manager's capabilities with that property.

Detroit rental investing is not for the uninformed or uninvolved. You need to either know the areas in the City or work with someone who does. While you can have bad property managers, if you are hands on or work with someone in the area who is knowledgeable, you can get good returns. The key is to buy right!

Definitely work a seller financing deal with him if possible or show him the possibilities of lease option.