All Forum Posts by: Nicholas Foy

6783 Chalmers Ave Warren Mi 48091

I closed on a property in Warren, MI on Oct 20 and I quickly found out through my property manager that the house is in a horrible area and won't fetch enough rent to cash flow. I was too giddy to get another property and my first ever property I bought in Texas was successful. Unfortunately, I am putting the property in Warren up for sale tomorrow and I expect to lose 25k. My lawyer, PM, and financial advisor assessed the risks and we agreed to flip it. I guess this can help save future investors this experience by letting you know to not buy a property for the sake of buying one. I also believe in David Greene's philosophy of buying in nicer areas and not downtrodden cities in the Midwest like Warren or Detroit now. I hope this helps anyone looking to buy right now. Personally, I would just wait it out and save your money. What's the worst that could happen? Sitting on a nice, big pile of cash? I'll lick my wounds and onto the next successful one!

I closed on a property in Warren, MI on Oct 20 and I quickly found out through my property manager that the house is in a horrible area and won't fetch enough rent to cash flow. I was too giddy to get another property and my first ever property I bought in Texas was successful. Unfortunately, I am putting the property in Warren up for sale tomorrow and I expect to lose 25k. My lawyer, PM, and financial advisor assessed the risks and we agreed to flip it. I guess this can help save future investors this experience by letting you know to not buy a property for the sake of buying one. I also believe in David Greene's philosophy of buying in nicer areas and not downtrodden cities in the Midwest like Warren or Detroit now. I hope this helps anyone looking to buy right now. Personally, I would just wait it out and save your money. What's the worst that could happen? Sitting on a nice, big pile of cash? I'll lick my wounds and onto the next successful one!

Hello everyone! I'm reaching out to the agents and property management companies to ask about a single-family rental that is on the market in Fort Worth. The home is vendee loan eligible, and I would like to talk to someone who has worked with a VRM property before. Thanks!

Hi everyone! I'm Nick and I'm a traveling physical therapist currently working in MD but my one rental SFR I own is in Seguin, TX. I'm looking into the markets of Columbus, OH, Detroit, and central IN. Any help pooling together some good investor friendly agents, management companies, and lenders would be great! Thanks!

Hey everybody! Does anyone here invest in the El Paso market? I'm looking for single family homes and duplexes in that area and I'm wondering how successful anyone has been renting in that market. The prices are lower and El Paso has a large border patrol and military presence meaning there's a high supply of renters. I would also appreciate any recommendations for reputable real estate agents and property managers who work in El Paso. Thanks!

Hi everyone,

   I own a single family rental in Seguin, TX and I’m looking to keep adding more rental properties. I am interested in single family and multi-unit properties.  I currently have 45k in cash and I save about 2,500-3,000 dollars a month to put towards buying another property. Getting a second property has been extremely hard with the rate hikes and current environment. Do you think it would be wise to keep saving up and wait about 6-12 months or continue to pursue properties now? Thanks!