All Forum Posts by: Joe Lijoi

Even given the condition it’s in? It’s for the most part a gut job based on the video and pictures.  Not much looks salvageable. 

I’m estimating $80k and will be financing. 

Hi all!  

Was contacted today by a wholesaler looking to offload this property. Asking $75K with an ARV of around $160,000. Property is located in a decent area that I am familiar with and there are quite a few comps that have been sold over the past year around the ARV. Lookin for opinions on if this is one you would tackle or run without looking back. Thanks!

Good day, all!

I came across a portfolio of 4 duplexes for sale as a package.  My question is how does lender financing work in this scenario?  Would each property be financed separately or would it be a commercial loan on the whole portfolio?  Is there a "best" way to go about the financing end?  Both my properties have been single purchases so this is new territory for me.  Thanks! 

https://pta.waynecounty.com/

Hi,

If you have the parcel numbers, you can use the tax assessors website. Or you can call and they can give you the tax info as well. 

@Andrew Freed thanks for the advice!

@Drew Sygit

Thank you for the reply. I have been looking in the metro Detroit area but I’m struggling with what to look for and where. Everything I seem to find that is rental ready doesn’t cash flow based on the asking price and 20% down. If you can point me in the right direction of someone who might be able to help I’d be forever grateful.

Howdy all!  I am new to real estate investing and am hoping to get out of the rat race by create passive income as well as building a legacy for my family. I am struggling finding anything in the Metro Detroit area that cashflows.  My time is limited so I am looking for turnkey properties.  My question is in regards to out of state investing in a market with more potential.  I am struggling with how the logistics work with not being in the same area as the property.  Also, if anyone has any suggestions on real estate agents that specialize in investments, or anything else that might help, I would appreciate it.  My 9-5 is with a title/escrow company, so I do have some advantages when it comes to that side of the transaction.  Looking forward to starting the journey!