All Forum Posts by: Brad Carrier

Flint and Detroit have some very blighted neighborhoods. There are people getting houses for nothing in those areas but it may not be worth it. One guy on the podcast suggested buying on the edge of a blighted neighborhood for flips.

I used to work construction in Detroit before the market fell out. If you're thinking about trying to make money there do your research. There are very bad areas and safety could be a big issue. 

On the other hand the rest of Michigan is pretty darn nice and lots of people are doing deals every day. If you just want cheap investments in Michigan look at the other bigger cities in the state. You won't find $500 houses but there's still money to be made.

@Kaylah Hennen  

You're the right age to try the house hacking method if you don't mind room mates. There's also the method of living in a house you're remodeling as a flip every other year. I tried that but I bought in 07 so I probably should have researched better than watching flip this house and signing a mortgage.

@Brad Hawkins Hey there fellow Brad. I'm up in Michigan but I just wanted say welcome to the forum. Good luck and don't let that analysis paralysis get you. It's definitely happened to me before.

I'm a lazy redneck so here's cheap advice. Run a dehumidifier and a few fans on it for a day or two. Then get a torpedo heater and get a few feet at time hot to the point where the flooring gets soft. After that run a heavy steel floor roller over it. If that doesn't  do it then it's screwed just replace it. 

I'm in Lexington 15 minutes from your market. I'm just a handy man with grandiose dreams but if I can help you out message me. 

Lindsay,

Even though it sounds like you might not be directly looking for profit you may be onto a niche. The other day I was having a discussion with someone about changes coming up in Michigan that will have people looking for homes ready to be used as multi-bed AFC (adult foster care) homes. Rehabbing houses with ADA requirements in mind does have a small but possible market if you have an interested buyer lined up.

If it has a sump pump and the power was off for years that's the source of the flooding. I'd test an area and cut the drywall near a stud. If it's moldy on the back side of the drywall, on the studs and insulation just gut it. You won't ever kill the smell. If it's just the surface of the drywall scrub with bleach and use killz primer.

I was thinking about posting the same question tonight. I'll be keeping an eye on this discussion. 

At 17 you have a few months before you can sign on contracts but don't feel intimidated. I'm just getting started at this myself but I can tell you where your edge is. If your dad knows this business, start finding deals you think are good and ask him what he thinks. If he doesn't exactly know ask him who he would ask and go ask them. If you have someone on your side with his experience use it to build a network. In everything I've ever done knowledge and networking can cover a lot of hard skill deficits. 

That sounds like a really good deal for you. I'm hoping an opportunity like that comes along for myself.