All Forum Posts by: Isaac Taylor

@Kyle Tanner 

Assuming you are talking about the city of Detroit (vs. suburbs) than no.  Financing options are still pretty limited.  There are a lot of owners willing to offer properties with seller financing, but they usually come with a pretty healthy premium and max interest rates.

@Ludmila Hill 

I have a very good contractor that I work with on Detroit properties.  Feel free to send me a note if you're still looking.

Redford Investment Property Overview

• Market: Metro Detroit Area
  
• Listing Price: $30,000
• Rehab Estimate: $5,000
• Closing Costs: $900
• Address: Dolphin St., Redford, MI 48239
• Beds / Baths / Sq Ft: 3 beds / 1 bath / 1,250 sqft
• Property Description: Recently updated home on a well maintained block. New paint, flooring, bathroom, furnace and hot water tank. Spacious master suite and newer rear deck.

Financial Summary - Click for Detailed Breakdown

Want to Learn More About This Property?

• Find Out About the Neighborhood: Median Income, Poverty Rate, Unemployment Rate, % of Renters, Etc.
• Income Potential: See what similar homes are renting for in this neighborhood
• Expense Expectations: See a detailed breakdown of key expenses like property taxes and insurance

@Ming Wu if you're open to markets a few hours away you may want to look at Dundalk, MD which is in the metro Baltimore area.

I just completed a couple of articles that highlighted other potentially compelling buy-and-hold markets. Top Markets with 15%+ Returns

@Jacob Studer I just finished a blog post that highlighted a few attractive markets for buy-and-hold investors.  Take a look at Top Markets with 15%+ Returns

Parma, Ohio was one market in Ohio that could be attractive.  I've started meeting with a few local professionals who know the market well.

@Eboni Allen I've recently started a blog focused on out-of-state investing.  I've compiled a list of some of the top rental markets under $75k. These markets will tend to have the highest return on investment either in these specific cities or the surrounding areas.

https://www.biggerpockets.com/blogs/8697/51317-top-rental-investing-markets-under-75k

Most of these markets aren't appreciating that fast, but I've compiled a list of some of the top rental markets under $75k.  These markets will tend to have the highest return on investment.

https://www.biggerpockets.com/blogs/8697/51317-top-rental-investing-markets-under-75k

@Dan Johnson lots of great ideas in this discussion.  Hopefully you've been able to connect with a few folks.  I agree with @Fay Chen that finding a great property manager is one of the first key steps. I'll also point you to a recent blog post where I highlight some of the top markets to consider for buy and hold investors.  These markets all have properties under $75k for single family.

Top Rental Markets Under $75k

Isaac

Jorge,

I think the most important part of the team would be finding a great property manager, which isn't easy to find.  Given the additional challenges of investing out of state, I think you would also want to make sure that you are targeting markets that are significantly more attractive than your home market.  I just posted a blog this weekend with a list of top rental investing markets (buy and hold) under $75k.  

Top Rental Markets Under $75k

Isaac

Michael,

I just posted a blog on some of the more attractive buy and hold rental markets under $75k.  Check it out at Top Rental Markets Under $75k

Isaac