All Forum Posts by: Saul L.

 To tell you the truth Sid- I was really surprised at the high taxes.

When purchasing I didn't look into it enough, not understanding that Tax levels can vary enormously between markets within the US, itself.

In my local market - taxes are pretty standard at around similar levels- 

Not only that taxes are normally paid bi-monthly and  the tenant is liable for their payment like any of the utilities.

So the short answer is yes- the taxes have impacted.However if I can manage other costs/vacancies etc the investments  should still be providing a good return.

Are taxes in Chicago significantly lower ?

Cant agree with you more- I have learnt the hard way -it takes far more than a good PM. 

But without a good PM, you cant even start.

I am currently on my third PM,  and it would appear for the better at the moment.

My homes are on the west side- Rosedale park, Grandmont, and another 2 in zip 48235 (cant seem to clarify what the neighbourhood is called.)

Thanks Rachelle and Mindy

Intend to do just that.

Appreciate your input.

Hello Fellow BP'ers and especially Detroiters,

I am an architect and an RE investor from Israel.

Although I have been involved in the building industry for around 20 years, (mainly as an architect but also with RE investment experience locally, in the UK and a little in South Africa), I am relatively new to the US market.

I have been following the posts and podcasts on this site for a while, and am really impressed with the length and breadth of the information and networking available.

As you are probably guessing I was tempted into the Detroit market like a lot of others, seeking alternatives to relative low returns elsewhere, and promises of 2 figure ROI with ease.

Well, I now own a small portfolio of 4 homes in Detroit, which has posed a very challenging learning curve for me, and while it has not been a disaster as yet, it is far from what I was hoping.

It has taken a lot of hard work (and obviously more money than expected), but it would appear that I am now beginning to see some light at the end of the tunnel.

Despite my difficult start, I still belong to the school of believers in Metro Detroit and in its future, and am not averse to increasing my portfolio, but am doing it far more carefully now.

I am planning a short visit to Detroit next month to review where I am, and where I am going, and would be more than happy to meet local players with a view to learning, partnering or just sharing insights.

Thanks a lot,

Saul