All Forum Posts by: Matthew Cole

Just like any city there are good and bad areas. You need to know the city. As an out of stater I would suggest finding am in state partner to mentor you. I personally do not invest in Detroit but rather the surrounding suburbs. I haven't educated myself enough to take the risk and don't feel the need to based on the returns I see elsewhere. Good luck!

Congrats and good luck!

You should get some more quotes. Adding AC here in Michigan only costs 2k-4k

Section 8 rentals pay two ways. Some of the landlords payment is from the tenant and the other is from the government... That's the guaranteed part. If your credit sucks offer to put a double deposit down on a place.

I think your the only one who knows the answer to your question. For example, if you make 150k a year at your job do you want 100k in net cash flow from your properties to supplement the w-2 job your giving up? Or do you only need a portion of this because your going to live a little more frugal? Or maybe you need more. For me personally, the goal is 300-400k in annual gross rents which should yield about 50% net. That is approximately 50-60 doors in my target market.

There is no fee for CHASE quick pay. Tenant sends rent, you receive email notification and accept payment. You can also request rent this way, but I tell tenants up front I want payment this way and they just send. That way if I haven't reviewed rent by the 1st I send a notice to start the eviction process.

Said owner could always lower rent to attract tenants if this situation occurred. Buying properties based on Appreciation speculation gets you in trouble.... Not market variances. To me appreciation is a bonus.

Most banks will allow payments by using your email address. I do the majority of mine through CHASE.

2 years and 8 rentals in. Best decision I ever made was to take the plunge. It's gets tough juggling the day job and real estate, but the feeling of growing my real estate portfolio is so much more gratifying than any accomplishments at my 9-5...... It's a means to an end. good Luck!

Do you really think your multi has appreciated 20+% in 6 months without improvements? That's hard to believe unless you just found a great deal. Either way what would you do with the money if you sold? I think that's the more important question.