All Forum Posts by: Nader Shariff

I'll be another guy in here to throw my vote in for Detroit Michigan. With the right team in place, it makes for a promising market to get into at the moment. 

If you are looking for market recommendations then I would suggest looking into Detroit , Michigan. It is a very intricate market for sure and it takes a lot to understand it but with the right team in place, it makes for a great place to grow a portfolio. I would advise you to fully understand all the pros and cons/risks of the market so that you could make an educated decision on if it is for you or not. My team and I have had good success and an overall good experience in the Detroit marketplace.

Other than my market recommendation, I would just give you some advice on out of state investing. Please make sure no matter which market you pick, you have a solid team on the ground picked out, and a good understanding of the market you choose before pulling the trigger.  

Hope I helped.

 What areas are you focused on? 

Out of state works, only if you know what you are getting into, the pros and cons of the market, the right expectations and the right team. The right team being, honest and reliable not perfect. 

If you do end up going out of state, please make sure you know exactly what you are walking into so you can make an educated decision on if it is for you or not. 

The biggest issue I've seen happen to out of state investors is they come into a market with the expectations of a bulletproof cash flowing system, only to walk into the total opposite. 

If you are working with someone who will only paint the positives, and no negatives or risks, then tread lightly. 

If you are going to use a Wyoming LLC then I assume you are doing this for asset protection purposes and limiting liability.

I would suggest sitting with an asset protection attorney and having them help you structure it. It might cost a bit more, but they will ensure you have it set up right. 

You should file returns annually, regardless of money being made or not. 

 The thing about Detroit is it is very block by block. So it's hard to just throw you a few zip codes and say, this is the zip code to buy in. You have to really know the right spots to pick. My strategy has always been finding blocks/subdivions that are booming or doing good, and then buying in close proximity to those spots so that I could capitalize on future appreciation in the areas im investing in. For example , when I started I targeted Warrendale (5000 and 6000 blocks specifically) due to the close proximity to Dearborn/Dearborn Heights area. The idea was that as DH got more and more expensive, people would realize they could just head across ford road and buy properties in close proximity to the community at a significantly cheaper price. If you check now, a lot of the houses on those blocks went up in value. 

Detroit is indeed getting better, there are many pros for the marketplace. Of course there's a few risks/cons as well, but overall a good experience. Happy to connect if you want, feel free to reach out to me. 

Also, sorry for the rant, not sure if that all made sense. Happy to clarify on here if it didn't. 

Being in the midwest already, have you looked into Detroit , Michigan? With your budget, you could potentially get a pretty solid deal. The key would be to make sure you have the right team in place for any out of state investing. Detroit has a lot going for it at the moment, yes there are pros and cons to the marketplace, but my team and I have had some good success there. I would strongly advise looking into the marketplace. Nevertheless, whatever market you choose, I advise you to have a proper team in place before buying a property. 

If you are going to invest out of state, I strongly recommend finding the right team in the market you are going to be investing in first. Your team is the most essential piece of the puzzle. You do not have to find the perfect team, as that doesn't exist. Look for a transparent and honest team that will give you all the pros and cons of the market. Having the right expectations set before investing can help you make an educated decision on if the investment is worth making for you. 

Hey , I am happy to connect you with a NYC based lawyer who can help. Feel free to reach out to me. 

No worries, if you ever want more advice on the market , I am happy to offer some of the knowledge based off experience.