All Forum Posts by: Joe Hammel

Hi Martins,

Congrats on joining a fantastic community! I live just north of the area. We could do a market analysis on it as is, and the ARV. Buying Location is going to depend on your desired balance of ROI and Maintenance. South of 8 mile is going to be a higher ROI, but statistically come with higher maintenance and more effort to manage.

We aren't really allowed to self promote on here, so I would love to connect and chat with you more! I will send you a connection request.

It's where I will do all my business and help a lot of others do theirs. The Metro Detroit bordering, suburbs have a great balance of ROI 12%-18% and a few hundred dollars a door cash flow, depending on how you run your numbers. All while being decent to manage. The city will be more of a challenge to manage but if you're into the high risk, high reward..it's there.

Glad to help with the book @Richi Brown! 
Would be happy to chat and stay in touch. Yes sir, small multi family, single family rentals/flips/BRRRR, and primary residential. I'm helping a handful of investors purchase their first deals right now.

Hi @Richi Brown,

Sounds like you're definitely starting off right. Another book I found helpful was "Landlording on Autopilot", has some good tips in it. 

We have some Great ROI here in the Detroit Area. Best of Luck!

Hi @Ryan Lauretta, I see your comment on getting David Green's book, I'm just about finished with it myself. Very good read! 

Looks like you're getting good advice here. Getting Boots on the ground definitely helps. In the Detroit Suburbs on SFH you can find roughly 8-10% ROI on A- and B+ neighborhoods.. then 12-18% in C neighborhoods.

Hmm, are we talking about just the City specifically or all of Metro? The Detroit bordering suburbs seem to be where you can find that sweet balance of cash flow, lower maint, and 1.25-1.75% deals.

From what I see, in the City, the ROI can be crazy with a low price point, and if you're betting on appreciation (not my personal strategy)..some people very well could get rich quick some day..

Columbus, Ohio is very strong and they are really building up the city so new people moving in every day. Columbus has the best appreciation statistics in the state. 3.5 Hour Drive from Detroit. I know an agent in that area and he may have the best inside scoop on it, if you're interested.

Lol I was most teasing about Southfield, it could work..Living here, it gets a decent amount of my attention. There are areas where homes sell for $250k so you would just need to find one distressed for low $100s.

Farmington would work, pretty hot. Farmington Hills, same thing.

Pontiac is a pretty low price point, not very desirable, and hasn't appreciated for a long time. 

About $250-$300 a door, without property management. 1.5% rule for rough numbers. Balance of good ROI and not crazy high maintenance

Hi Dave,

Northern/NW suburbs of Detroit is a hot market. It's competitive but because there is opportunity. Always happy to chat.