All Forum Posts by: Joseph Bui

Hi, I've been in the Detroit market for a little over a year now. The key is building a trusted team because Detroit can be sketchy if you don't work with the right people. With the right team in place, you can be very successful. I own multiple doors across the city and would be happy share what I've learned up to this point.

What markets are you looking in? I've found that midwest markets tend to have the best rent to price ratios. I have doors in Memphis and Detroit and I only target properties with a rent to price ration of 1% or better. This, usually, leads to cash flow from day 1.

I believe new seasoning requirements for Fannie Mae and Freddy Mac for properties that were purchased with a loan is at least 1 year or possibly 2 years. If you purchased the property with cash, you can do a delayed financing immediately.

I have 2 doors in 38127 and have seen strong appreciation. I bought them in late 2020/early 2021 so many zips have seen great appreciation since that time. I have found Memphis to be a little too pricey to consistently cash flow now though. I've recently focused more on Detroit where the rent to price ratio is much stronger and appreciation has been the best in the country. I have 5 doors there now.