All Forum Posts by: Wilmar Treffers

We buy Fourplexes in Detroit that need work.

Must be possible to get Warranty deed, located North West Detroit, brick, 3500 sqm and bigger, reasonable prices.

If you have properties available please send address, pictures, yearly taxes to my email [email protected]

Thank you,

Wilmar Treffers

We buy duplexes in Detroit that need work.

Must be possible to get Warranty deed, located North West Detroit, brick, 2000 sqm and bigger, reasonable prices.

If you have properties available please send address, pictures, yearly taxes to my email [email protected]

Thank you,

Wilmar Treffers

Hi Kristal,

Is the property rented? What kind of repairs are needed? Can you send me pictures and tax info on this property? Please send to [email protected]

Thank you,

Wilmar

Hi Dane,

Can you send me the information on this property by email? [email protected]

Thanks,

Wilmar

Hi,

If you have properties available please send them over to me. [email protected]

Thanks

Thank you.

Are there investors out there that can advise me about the best property managers in Detroit working in the North West?

Thank you Chris.

We are a company located in Detroit, owned by Americans and Europeans. The client is looking to purchase properties in Detroit.

We have a lead that asks to leverage $90,000 as 10% equity down payment for long-term (10-30-Years with no balloons/calls shorter than 10-years). CFD holds by seller(s) and to generate to the Seller no less than 8% interest, given a producing CAP rate of +15%.

If we want to do this deal I have to produce $900.000 worth of properties. That's about 28 properties, average worth $32.000. With this number we can make about 15% ROI or even a bit higher.

A part of our business is contracting, this way it's possible for us to have some profit per property. Lets say $5000.- profit per property. That's 28 * $5000 = $140.000

Another scenario could be that we rehab a distressed apartment building.

I would love to build this portfolio for my client in 6 - 12 months, and get the profit at the end of the 6/12 month period. I need to borrow money from a financer to build this portfolio. We can put down the $90.000 of my clients and we can put down $90.000 of our own money. With the help of the financer we start producing the properties.

I don't want to be responsible for the finance the next 20/30 years. Because what's the purpose of getting 8% interest and make $140.000 profit in 20/30 years if I can make a 15% or more ROI my self, and don't forget the appraisals we miss.

So I was thinking when the portfolio is finished and producing is it possible to get it refinanced in a way that my company receives the profit and the new finance is directly between my client and the financer?

I hope there is enough information to give an advise.  Again I have no experience with finances, I always did my RE investing with cash.

Thanks.

I am looking for advice for a situation completely new for me. We have a lead that asks to leverage $90,000 as 10% equity down payment for long-term (10-30-Years with no balloons/calls shorter than 10-years). CFD holds by seller(s) and to generate to the Seller no less than 8% interest, given a producing CAP rate of +15%.

So the total deal is $900.000k

His question is clear, I think a lot of buyers want a deal like this.

Still I am curious because the first calculations look profitable (with the assumption that refinancing at 5% for 20 years is possible).

At this moment I have a part of the required portfolio, lets assume $200.000 value.  

Is it possible to refinance the contract that we make with the buyer and profit from this? Or is it not smart and just use our assets to leverage our own portfolio?

Your advice is highly appreciated.

Hi,

I am investing about 2 years in Detroit, living in Europe. With success. Key is that you have the right partner in Detroit. So invest time to find one.

It sounds like you are in the market for a property that is rehabbed and rented out. Preferable with a section 8 tenant, this way you have sort of an insurance the rent is paid. Personally I wouldn't go for the cheap properties located on the east side when you have 30k budget. There are a lot of bad areas over there and when something goes wrong you don't have the extra cash to get things working.

The north west area is good, with Mary grove college and The University of Detroit Mercy.  In this area you can find properties that could work for you and your brother.

If you are interested I can share some good neighborhoods and streets with you.