All Forum Posts by: Account Closed

I’ve engaged with them as an agent representing the seller. A ton of paperwork, inspections and emails before the properties could even be listed on their site. I can’t blame them but the process was a bit exaggerated in my opinion. Otherwise seems fine on buyer side, they definitely do their research.

The organizational part is going to be the absolute most important thing you want to have in place to start. I'm A Certified International Property Specialist and I've done many transactions with people from China, All of them have LLC's first and foremost. The next step would be establishing US bank accounts, possible POA etc..It all depends on our level of involvement.

What zip code is the property in?

@Sara Jacob my apologies most desirable is definitely 3 bedrooms and multi units

@Travis Biziorek Detroit is for cash investors and rental properties. If you buy in specific zip codes you will see appreciation. But for the hundreds of others who purchased homes thinking they got a good deal but they purchased in C,D and F areas, we all know as investors we need to be able to leverage our assets and you can't do that because many banks, private lenders and hard money lenders won't touch Detroit because it's (risky). If you have the cash and your'e interested in rental income then this can work for that type of investor. 

@Saj Shah This is the issue. I’ve sold everything to sell in Detroit, from A-F areas. I wasn’t an experienced investor at the time and was caught in the hype of “Detroit comeback” and plus I was trying to make commissions as a realtor. There were many investors that would say “I don’t buy in Detroit, won’t touch it” at the time I didn’t understand why and now I do. Someone mentioned a red flag of 45K and $925/mo sounds good though. Detroit is 80% rentals, strictly a rental market. I’ve seen out of state and out of country investors who THINK they can flip for top dollar and end up losing money Detroit is not a city for appreciation. There are literally only a few areas where you can flip and as others have stated Detroit as a whole is still under great distress, poverty and jobless. There are very few people that can afford $925/mo in rent. Yes there are many people who do well here but it’s many challenges I’ve dealt with them all first hand. If you’re looking for decent rentals try it out, If you’re looking for appreciation I don’t see it happening very soon. If you’re looking to flip find a professional or try the suburbs. Also look at DOM that will tell you how many people can actually afford to buy retail.

How often are these events?

@Eli Miles it’s more than 2 hours but Rochester or Buffalo NY. Can give more detail send me a message

@Nicole West in this case if it’s not too far from Franklin, TN I would definitely go meet the contractor there. They should give you a free estimate. Before you even do that make sure you have a signed purchase agreement from the seller. Once signed, you need to do extensive marketing (mailers/calls) to potential buyers. Congratulations!