All Forum Posts by: Roy Gutierrez

Hi @Chad Skop,

I have one nearby in Hague, very interested in seeing this one, I'll Pm you.

Thank you,

Roy

@Jamiel Strickland, I'm doing 2 rehabs in Detroit right now and to be honest it's incredible what some guys will do if no one is watching, basically leave time bombs, I'm watching the rehabs like a hawk and I've had to stop work a few times because they were doing stuff that if I'm not watching them they close the walls, paint and you would never know the mess they created, incredible; I had an out of state investor recommend me his guy, was saying he did great work, I passed by one of his rehabs, omg, the shoddy work was so evident, of course once he closes the walls no one will notice. Pulling permits and proof of that is very important!

Glad to hear that Leo Furest (La garra charrua!) What part of Detroit are your properties at? It's a challenge managing these contractors locally so I can imagine being out of state and you're doing it, so congratulations!

Anytime Javier!

anytime @Stossi Tsantilas! Any other questions feel free, not a seasoned investor (passively since '12, full time since this year, Detroit the past 6 months) but I like to share what I learn! 

@Stossi Tsantilas same as what Jamiel says, depends on the location, I will tell you the area that I'm targeting, anything near downtown (but not downtown since it's insanely expensive!) is hot, especially close to woodward, I haven't bought apartment buildings yet so I can't give you numbers, I'm doing single family/duplex but can't imagine you having any problems getting your building fully booked with a place near downtown, I would say south of Chicago Blvd and as close to woodward as possible.

@Tereal Wilsonn, I also live in Oak Park, you will do well, no problem finding good renters! I usually like north of 9 mile though.

I'm tapping into the areas near downtown but not downtown prices, I've bought 1 in the North End, 1 by Henry Ford and 1 in La Salle gardens, all 3 full rehabs (ouch!!!!) and will be short term rentals (airbnb), might move into the nicest one (La Salle gardens, also airbnb it at the same time). The prices are getting a bit uncomfortable, prices are starting around 35k-40k and up and they're total rehabs/gut jobs (where 4-6 years ago same houses were going for 3-4k). Millennials/artists moving into the area, seeing more rehabs, less burned out houses, it's a slow process but 5 years from now I think we will see a dramatic change so find your "deal" now before the prices get out of hand! Looking forward to seeing less speculators (like before) and seeing more investors rehabbing (like I'm seeing a bit more now).

@Scott Zajkowski, I'll pm you my number, lets connect and we can share notes. 

@Scott Zajkowski, is your property a house or a duplex? I just got the properties, they're total rehabs, so don't have first had experience but know a few that are doing successful Airbnbs in the area, you definitely need a plan for this, the hosts that I know of in the area live in the area as well (which is very likely what I would do as well), I think some have house sitters, if good neighbors even better, they watch the house. So 2 things, 1-good cameras/alarm/lighting, 2-either you become very involved or get a manager and house sitter. Actually just remembered one of the Airbnb by Henry Ford is actually in the same street where I bought and it's managed by an out of state manager, I can ask if they use house sitters, it's a duplex.