All Forum Posts by: Lydia Woods

Hey Ladies and Gentlemen’s,

I live in Louisiana but I’m thinking about buying some property in Detroit.

I notice they have a lot property on the low end ($3,000- $10,000) and some are bundle deals. They are in low income area. But I was going to buy and hold without renovations and sell down the line.

This will be my first time doing this strategy. I’m looking for input, did anyone buy property in the low-income area of Detroit ? Have you every did this strategy? Anyone familiar with Detroit market or the future it may hold?

All advice are welcome. Thank you

@Kaylee Walterbach Yes I made a couple. The tips I’ll give is to make sure you get home inspection, hire license contractors, get a good Realtor that knows the market well, preferably someone who is an real estate investor themselves.

@Kaylee Walterbach

Always get an inspection. Don’t matter if it’s new construction or not. You have options when you do.

@Shiloh Lundahl I wake up early at 5:50am I just find I get more things and way more focused. Also I don’t like feeling like I wasted a day by sleeping late. All successful may not wake up early. But the first hour when you wake up is critical. That’s what keep you on track whether it’s working out, meditation, etc.

@Charles Seaman @Todd Dexheimer @Brooks Rembert Thank you all for the advice!

Hi,

This is question for myself. Looking into buying this 22 unit apartment complex. The seller is doing private financing. Why would a seller do private financing especially for such a large amount? What are usually the basic terms of it? Can you still sell the property while you under private financing? How to do due diligence on the seller? Will like to get different perspectives on it. Thank you

@Olga Merino

Some properties don't accept FHA loans. A personal flip property of mines. I wasn't accepting FHA loans. Also, many of times Realtor.com and Zillow.com don't be updated in a timely matter. Especially Zillow, but sound like you may want to have an conversation with her to express your concerns. Also, ask more questions you may have. To have a better understanding on both ends.

Hi,

How do you go about transferring personal real estate (rentals) to an LLC ? Also, no mortgages are on the properties.

@Natalie Schanne Was going to start LLC to put my rental properties under. With being a realtor do the name of business matter? Don't know if it will be problem.

@Marcus Auerbach thanks. Keller Willams is actually the first people I meet up with. I been hearing a lot how good there training program is. I’m going Thursday to sit in one of them. Didn’t know about the assistant part, you can’t beat that.