All Forum Posts by: Kyle Wilkins

Hello,

I've recently begun working with a Detroit area real estate investing firm and we are searching for great real estate agents in the greater Detroit area. Agents with a history of working with investors is a huge plus. If you have an agent that you've enjoyed working with and has a consistent flow of investment properties available for purchase I would love to hear about them!

@Whitney Hutten Thanks a lot for your reply. Currently I'm considering hard money to get in and then refinance it into my name. The repair costs and ARV are admittedly something I am weaker at, especially with online listings. You are correct though, it will take some time before I do reach the break even point on this home. I am more interested in cash flow at this point with appreciation being secondary.

Do you see this as a bad long term investment as the COC looks to be trending down as years go on? As a vet investor, would you stay away from this property or buy and hold for a specific period of time?

@Stephanie Martinson Thanks a lot for your thoughts on the deal. I can freely admit that calculating ARV is one of my weaker points. What is your method to calculate repair costs and ARV from a listing on the MLS?

@Michael Albaum Thanks a lot for this advice. This is great to know and have in my hip pocket.

Hello,

I am new to the calculator, only using it a few times so far. I'm attempting to analyze properties in my target area and am curious as to thoughts and what kind of oversights there might have been. Feel free to pick this apart so that I know what needs to be taken into consideration going forward. Thanks for the help!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@David Flores Thank you very much! If I do find a deal that works well with seller financing I will definitely take you up on this offer.

@Joseph Konney Thanks for this. I appreciate the advice on what to look for. Of course these are all things to be discussed with a would-be lender. It is great though to have a list of items to address and know before getting into a business transaction with someone. This is very helpful

@David Kazarian His advice was definitely well received. This post has helped confirm the track I want to go down and I'm thankful for that. I definitely do need to get to more meetups. The Midwest real estate networking summit that @Yonah Weiss suggested earlier is another that I will absolutely want to be at. Getting in and shaking hands with those already established is always beneficial.

Do you have any suggestions, as you are someone in the area who has attended meetups, for me as a new investor yet to complete a deal to show that I am serious and to have at least an ounce of legitimacy at these meetups?  

@Odie Ayaga Thanks a lot for the advice. I've obviously felt the same way and it's nice to hear someone like yourself confirm that for me.

@David Kazarian Thanks a lot for the HML info. Having these tips will be great as I look into potential lenders further. As mentioned, the reason why I'm looking into hard money is due to a lack of initial capital for items such as a down payment + repairs. You do seem well versed in the topic of lending, is there another avenue with the above in mind that you would suggest to aid in getting my first deal?