All Forum Posts by: John Knappmann

Regarding Detroit:
1. An Emergency Financial Manager is in place, who will be restructuring Detroit's city government, possibly cutting deals on the debt that is strangling their finances, etc.
2. The state is looking at how Detroit assesses property and whether taxes are too high overall.
3. Because it also affects every other city in Michigan, I expect reform of municipal financing will happen within five years or so. Detroit will be a big beneficiary.
4. Downtown and midtown are seeing redevelopment. There is an effort to encourage young people and creative types to live there.

These point to a better investing environment in the short-term future. Investing the the right areas of Detroit can be done profitably. I agree people from out of the area should not try to visit a week and figure out where.

4. The County Building is beautiful, but is designated historic. There is a very limited market for who could actually benefit from the space under those conditions, and so it is empty.

Ned is right about using an operating agreement among owners, but these investors are not owners. If you are going to pay a set amount of interest whether or not your llc makes money, then they are loans. A personal loan really would be the easiest way to go.

@Joe Delia, @Seth Williams, my own personal experience is the same type of price appreciation in the Downriver area since a year ago. Still plenty of good deals to be had, though.

Yes I am definitely interested.

I started off with JOK Homes, but snagged Awesome Properties LLC when I saw it was available.

Thank you all for the warm welcome. I know the downriver area from living here, and I am a firm believer that I should first invest where I can drive by it every day without too much effort.

There are some wonderful opportunities in Detroit itself, but I limit myself to only a couple of neighborhoods I think I have a handle on.

Listen to me talking. I guess what I really should say is that these are the areas I am currently looking in and considering for future purposes. But I have already learned that you need to be flexible and learn as you go along. I sort of stumbled into my Detroit property without actively looking for it.

Still have a lot to learn and this is an outstanding place to do so. I'm fortunate that I have a secure job right now and can take my time getting a handle on REI.

Hello, I am a new member who has not posted yet here. I have read the newsletter for awhile and think it's great!

I invest in Detroit and the Downriver area. I currently have two properties and one moving to closing. I don't yet have the ability to flip (poor at estimating renovation costs, not particularly good at design), but I can keep looking until I find a suitable bargain that I can rent out. I plan to retire from my current job in the next five years and will need to start new ventures.

You have more than enough in assets, in diverse holdings, that it is worth it to speak to a lawyer in your state.