All Forum Posts by: Jimmy Thomas

Hi All,

My partner and I are new investors, looking to do our first deal in the first few months of next year and avoid analysis paralysis. We intend on using hard money for this first deal; however will have very little cash in the deal, and do not have any personal property to put up as collateral (as one hard money lender we engaged stated is their criteria for new investors). 

Are we in for long haul finding a lender that will meet our needs? Essentially what we have to show for ourselves is the value in the now your thoughts deal. Please let me know your thoughts. For greater context we are looking into the Detroit market with intentions of using the BRRRR strategy to grow our portfolio.

I am interested, but wont be able to make this meet. Please keep information coming for further meets.

Thanks @Jamal, Congrats on your deal. Glad to hear your business is moving along. I am looking into investing in Detroit with interest in multi-family properties (some singles if the numbers suggest its wise) in a myriad of zip codes including but not limited to 48206, 48205, 48224, 48227, etc... Me and my partner are looking to BRRRR, as opposed to flip, but are interested in homes with similar margins like you have acquired.

So you know of any good contractors you could recommend, or Real Estate Brokers that may have great list we can comb through. Any and all information is appreciated.

Good Day All,

My Partner and I are looking to begin investing in the Metro Detroit Are for buy and holds on single and multi-family properties. 2 Questions:

1) Can anyone recommend solid general contractors that they have worked with in the past for both minor and major rehabs?

2) Can anyone offer up a ball park figure per square foot for major rehabs?

Thanks in Advance.