All Forum Posts by: Marisa R.

Here is where I have been buying, looks like some agree .... this for appreciation

https://www.modeldmedia.com/fe...

Have been playing in this market for just over 12 months now.

What can I say... where do I start..... Yes, Detroit is moving, lots of positive stuff happening .....not going to hype it up. Its up to you guys who are interested to do the homework and research the markets that are moving. I have posted many areas/neighbourhoods that are worth buying into as they will have upside, how do I know? Its already happening, don't need a crystal ball. 

Clearly the higher price point you go the rental yields will be lower. I have a mixed bag, purchased for growth and cash flow

Typically my cash flow property will be something like this $32,000 at $800 rent per month, but perhaps today more like $40K. Its a C grade area. My tenant pays every month, within first week. I have a few tips on how to attract good tenants and it has nothing to do with qualifying a tenant.

Then I have a number of properties where its hot market, so planning to look at perhaps flipping in 2020, but then again, if growth continues I will probably hold??? Its hard to flip in a rising market as we all know you can make more money just holding.

So moving forward, I have a couple of friends who are in the process of getting cash out, refinancing their Detroit portfolio, one in particular where values have come in much higher than expected.... Caveat here, depends where and what you buy will determine outcome. I am not yet ready for this yet. I have bedded 10 properties, all cash. In this market cash is important.

Turnkey operators who are they, no idea, I did see Roofstock? in this market now  which I found quite interesting, and Real Network?   But their pricing is over the top ridiculous, I would not buy properties where they are gouging investors. I am not saying they are bad operators? I just don't know? However, I want profit in my pocket. If this means I have to work harder so be it.

Now back to Detroit, please don't jump in if you are a soft touch, its not for the faint hearted. Contrary to all the bad stuff on BP about Detroit, some I will agree with, however, I do know a number of investors that are actually making it work for them and this is not just cash flow, am talking about growing capital using various strategies.

Happy investing everyone

I have posted many areas that I like

Also you may want to search the thread...…"Detroit the come back kid"

Both

Distressed properties and rent ready

All comes back to price point, location, product

Detroit is block by block, street by street, can change from good to bad

I like some areas in particular, already seen significant growth, where zi have been buying

Bagley

Rouge Park

Grandmont Rosedale

Morningside, Close as possible to East English Village

Redford

University District

East English Village

Martin Park

Yes:)

Read my post ..... Detroit the come back kid

@Javier Gaillard

Wow Javier doing well. I am also targeting the Detroit market, loving the cash flow but deals are getting harder to source

I like

Bagley

Rouge Park

Redford

Aviation Sub

Morningside close to East English Village

Grandmont Rosedale

There are others, of course the boat has already sailed for some areas. Focus on areas which have a lower median house price, next to higher price points.... Its a good start.

I would look at these areas -

Morningside, however as close to East English Village

Bagley

Redford

Grandmont Rosedale

Rouge Park

Aviation Sub

These are just some of my playing rounds, that are gentrifying, but there are of course other areas to watch for. 

Detroit is the come back kid, prices are trending north.

So where’s he going?

Probably going to sell the same rubbish.... different country???? Oh dear

Yes pretty good article, by the way they hit the nsil on the head on beltline in Atlanta