All Forum Posts by: Natalie Allie

Hey Renae! You are absolutely right that wholesaling can be shady depending on who you are working with. I would recommend you get in touch with brokers who specialize in off market deals. Trying to wholesale deals that are on the MLS can be a recipe for disaster. Let me know if you would like to connect further! -Natalie

Wholesale deals typically work better for off market transactions. You need some solid connection with brokers who specialize in off market transactions. These brokers usually have an investor heavy clientele and understand that many savvy investors are looking specifically for deals that not everyone has access to. Let me know if you would like to connect further! -Natalie

Does anyone have insight on whether the government plans to defund Section 8 in Detroit? I have been asked this multiple times and have heard them pausing the program in other states/cities. Thank you! -Natalie

Hello, I am interested in joining another syndication as an investor in Detroit. The syndications I am currently involved with are not acquiring additional properties at this time. My experience has been that they do not typically let you into a syndication unless they have a direct connection to you or a credible source who will refer you as a vetted/qualified investor. Would love to know if anyone has any ideas. Thank you! -Natalie

For any investors who are heavily invested in Detroit: I would love some insight on how you mitigate risk as much as possible when investing in the city as it relates to tenant screening, neighborhood selection, vacant property security etc... Thank you!

Detroit and the surrounding areas are great places to be an investor. 

Things to note: The bank may be uncomfortable with using HELOC funds for new debt depending on the lender, make sure to hire a quality property manager to thoroughly vet a tenant with systems in place to detect any fraud as unfortunately people create fake pays stubs etc..., rental registration is very simple in most cities in metro Detroit with the exception of a couple, but a professional property manager can assist with this to make sure the home is rent ready before the inspection by the city. When you own an investment property, you are benefitting from the cash flow, but also from the appreciation over time. Real estate as an asset has historically out-performed most other asset classes consistently due to it being a depleting asset. I hope this helps and good luck!! -Natalie

Not a problem and good luck! It takes a little hustle, but you can do it. :) 

You need to get in touch with real estate broker(s) who specializes in off market deals. They typically have a book of ready investors who specifically look for off market deals and can send out the addresses to them to gauge interest. If you do not have a real estate license it is a little more difficult to get in touch with these buyers as it takes time to build relationships with these types of investors. I would also recommend you start attending real estate investor meet ups or become part of networking groups where you are located. Also, keep in mind there are plenty of wholesalers out there that have given the concept a bad name unfortunately because wholesaling is technically not regulated like licensed agent/broker transactions are and people are aware of that, so trust is essential when you are looking to wholesale. -Natalie

Hey Mostafa, there are plenty of investors who will buy a property for cash in Detroit. It sounds like someone may have backed out due to inspection or financing. My suggestion would be to require someone to show proof of funds before viewing the property and make sure you are marketing the property "as is," meaning if something comes up on the inspection, they will not back out. Hope this helps! -Natalie

Hey Samantha!

That is awesome! I would highly recommend your son reads "Rich Dad, Poor Dad" by Robert Kiyosaki. Great insight on how investment properties can build generational wealth! 

Also, a tip for Detroit investing: understand that Detroit is very much a block-by-block city when looking at a good vs bad investment. It is crucial to have an agent who understands this and is what we call an "investor friendly agent." Detroit is a hot investor market right now because there is opportunity for not only income producing assets, but there are plenty of value-add properties available. It is important to have a solid team in place: realtor, lender, property manager, insurance broker, contractor etc...

Would be happy to connect further!

Natalie Allie - Evernest Property Management