All Forum Posts by: James Ross

@Jay Hinrichs I manage other people property and have no problems and they are very happy with the returns they are getting on the rentals.

I own them all around that market and I don't install them anymore and it does not slow down me renting the houses out.

Do you want to clean and repair them? No thank you.

I have been buying in that price range (Warren, hazel Park, Eastpointe, MI) for the last 7 years and I can tell you yes there is a little more B.S. You have to put up with. But the returns are a lot better than when I buy in Royal Oak, Clawson etc. "Good" areas. In December I purchased four houses. Two of the houses were 25k each tenant occupied rent for $700/mo. One was 27k north of 696 in warren(6k repairs) rents for $800. And the last one cost 21k(12k invested) will rent for $925-950. Last week I picked up a rental for $1500.00 (it came with a harley in the garage) hahah in warren and will put about 12-18k in repairs. it also will rent for around $925-$950. Now I would have a little more work in these market areas but with over 70+ properties in all different markets around Detroit (north of the city) I would take the returns with a little more bs. I have had problems with renters in "good" areas and bad but it's a great trade off for me to stay in the below 30-40k markets and have more streams of rental incomes. All the time I read on here people putting down the lower end of the market saying that there is too many headaches with that area you can't get good returns, your going to get shot. I say good you stay where you are comfortable and my friends and I will enjoy this part of the real estate market. Sorry for going on for so long I am on vacation and doing a little drinking catching up on some reading on BP. Just my two cents... Jim

I'm in for the 10th-12th of November.

Jim

I pay around $4.00 SqFt to remove and replace cement.

Sounds good let me know when you want to hook up there is a lot of us in the Detroit market.

Take your time and get your feet wet one project at a time. Michigan is a great place to invest right now. Just know your market. Like Aaron said there is a lot of people in the detroit area that are on here so if you need anything just ask.

I agree with @Aliva L. I have about 15 tenants on Section 8 and I can guess the two offices he is talking about. You have to be careful not to waste to much time with them. If they say that there voucher is good for $800 then you need to take out utilities and that is what the rent can be. So if they tell me $800 I know its only good for around $600 rent.

give me a ring on Monday and ill fill you in...

I have my license as an Appraiser, Builder, and Real Estate Broker.

All of them are state test

I took all my classes online. Middleton is ok, didn't like Michigan Institute. Easiest is online

Are you taking the classes to pass the state test?

Jim