All Forum Posts by: Paris Kelly

I am looking to speak with a real estate agent about investing in Detroit, if anybody knows of someone or you're one yourself then please contact me because I will start investing soon and I had a couple of questions to ask.

I have found a great deal but the only thing is that it is a duplex and both sides are occupied. My question is how would you finance it? I've seen some mortgage say you (the buyer) has to occupy it, but I'm not too sure about the other ones. Could somebody help me please.

Originally posted by @JD Martin:

Are you the middle man, i.e. wholesaler? I doubt the seller is going to turn over keys to you; you'll have to make arrangements between the buyer & seller. As for purchase agreement, I would use one that strongly mirrors the language that your local realtors would use, obviously eliminating the realtor/agency language. If you plan on doing this as a regular job, you may want to consult a real estate attorney to develop a template. 

Thanks for the advice. 

I am about to get this 4plex home under contract and my question is what do I do when someone wants to look at it? I ask that because all 4 units have tenants in them. Should I get the keys from seller, or could somebody just give me advice on this topic. FYI it's my first house I'm getting under contract ever, so I am pretty excited! And do anyone know where I can get a purchase agreement written up for me? What place and how much do they charge. Maybe on here could supply me with one (don't.  mind paying a FEE) that lives in the metro Detroit area, I would greatly apperciate it.

I haven't used a realtor yet. I have been using Zillow, craigslist and others along those lines. 

I have been searching hours a day for weeks now for multi family homes in Detroit Michigan and haven't found much of them. It seems like single family homes is where it's at (at least in Detroit), is there anyone that could help me with this matter because later this year I plan on getting an FHA loan to get a multi family home by the end of this year and I was going to owner occupy it myself.

Thanks I appreciate it, and I definitely will be looking for some duplexes around my area!

Though out the year I plan to build my credit up so I can get a good rate on a FHA loan. The plan to apply for the loan would be towards the end of the year. So now that you have a back story my question would be, if i get the loan, make my payments on time, let's say 6 months to 1 year into the loan could I find a buyer to just buy the house outright or will the financial company not let me do that? Past experiences or your story would be nice to hear to.

Is there any investors that are investing in Detroit ? If so send me a message.

Does anyone know of some good real estate attorney's in Michigan, specifically near Westland? If you know of anyone could you please message me with a name, number, and location?