All Forum Posts by: Lindsay Stewart

Welcome to BP Ruth!  Best of luck with everything!  You will find the learning and info here invaluable

Hi Harjot

From another outsider's point of view, I have found Detroit to be a great place for opportunities but also a place where you need to be really careful.  Due diligence is everything and having someone on the ground that can advise you (and that you trust!) is critical.

Good luck with it!  If I can help, reach out

Cheers

Lindsay

Welcome Connor!

There is plenty of great information within BP.  It has proven to be invaluable for me as an out of country investor in Detroit to learn and pick up sone invaluable contacts.

Best of luck to you!  Let us know how you go :)

Cheers

Lindsay

Hello Tom

Welcome to BP!  I am also an AU investor currently investing in the US market but we do it from Melbourne. It is quite possible without actually moving there but visits are invaluable.  Feel free to reach out if I can help at all

Welcome Vanessa

Welcome to BP!  We are also Australian investors investing in the Detroit market!  It is a very diverse market but there are great opportunities for sure and I will disagree with Saul above, it is definitely worth investing in Detroit.  It has come a long way in the past couple of years and like any investments in any locations, due diligence is all important.  Let me know if I can help :)

Cheers

Lindsay

Hi Ben

There are a number of areas I have found to be good.  Wayne County I find is generally good but still have to watch out for specific areas. 

Returns I find can be easily 10% CAP rate after expenses but also can be more depending on the individual property.

Fantastic Investment opportunity in Birmingham MI.  

Great open floor plan, full hardwood floors throughout in great condition. Recently updated kitchen with granite tops, S/S appliances and updated cabinetry.  Roof shingles recently updated and updated furnace. Neutral colours and full recently painted interior.

Estimated rehab costs - $15,000 - $20,000 including addition of garage. ARV $230,000+

EMD $5,000

Best school area of Detroit, land value over $150,000 and similar blocks with new properties selling for over $500,000 currently.  Link below for photos.

http://stardynamic.net/great-birmingham-flip/

Contact us for further information and Comparable data.

[email protected]

ph: (248) 631 4016

Thats exciting to hear Katherine!

I did essentially the same thing a little while back, I am based in Melbourne Australia and have done a few deals now in MI.  My best advice is to get a GREAT team on the ground. Your realtor can really be your eyes and ears in the area, so find a good one! Couple of good trustworthy contractors as well and your off 

Best of luck!

Cheers

Lindsay

Hi Raphael

Good luck with your investing! I agree with Brandon, I would focus on SFR to start, but Ramone is quite right, there are some amazing deals for student accom, just a little more tricky i found.

I love investing in the area, and we are based in Melbourne Australia, so definately can be done from "out of town"

Cheers

Lindsay

Hi Ramone

Welcome to BP! I am an REI in the Detroit region as well, focusing on Oakland and Macomb counties but based in Melbourne AU.