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All Forum Posts by: Scott K.

Scott K. has started 25 posts and replied 663 times.

Post: Do you hold low income rentals? High crime rate rentals?

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

in Pontiac you want to be on the westside.  Closer to telegraph and south of 59.  Those are great houses.  You could also buy 3/1's in the inner burbs in very safe cities for under 50k.

Post: Depreciation is Real - Don't get Caught Like I Did!

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

I took a total wreck of a property and replaced everything.

New siding

New deck

All new doors exterior/interior

New water heater

new furnace

new windows

new siding

new kitchen

new bathroom. new carpet

fixed the garage

I had the worse house on the block.  I transformed it to one of the best houses on the block.  Slumlords are scumbags.  I learned from my parents to do things the right way.  Yes I was over budget by 10k.

When you start taking off the siding and see the dumpy windows and know they are garbage just replace them.  When you have 1970's honey oak cabinets you just blow them out and get nice white solidly build from Lowes.  You don't put in the old nasty sink you replace that also. 

This property sat empty for 4 yrs.  Plumbing blowouts everywhere.  I replaced all the valves in the house.  Do it now, why wait till you have a tenant.  The plumber is already there so just do it.

My house could sell right now and I would make 10k.  I rented it in 4 days @800 for a 2bd.  These people love this house.

I am glad I went over budget now since I will be living there.

Post: Hi All - New wholesalers in the Metro Detroit area

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

have you done the proper research or did you get suckered into a guru circle jerk 

Post: Than from a&e flip this house?

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

Stop watching those DB's on TV. 

You want to waste $200 and three days, get some fliers printed up for cheap and walk the neighborhoods you are interested in and try to pick up some deals.

I can't stand these people.  All of them are scumbags.

What type of people would pay $200 to go be cheering idiots at what is supposed to be an educational seminar.  That's how they fool all these idiots.  Rah rah flip with us rah rah just pay us a little more and we will tell you how.  HAHAHAHAHA scumbags

You can always tell when they come into town.  Craigslist gets slammed with "wholesalers" looking for cash buyers HAHAHAHAHA.  Yeah you need no money to be an investor.  LOL

Post: Detroit Current Events

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

LOL I have to have permission from the chief to carry all my guns?

LOL I didn't know that

Post: Experience with Wayne County (Detroit) Tax auction?

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

I will do a drive by and get you some pics if you want to work something out.  Tell u what type of area its in.  

Let me know

BTW. U said u are a newbie.  This is not the type of props u should be dealing with.  You can analize all u want.  But you just won't understand this city.  I see this not working out for u

Post: New to BP... Active Investor in Detroit

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

Royal is going crazy right now amazing what's going on there

Post: New to BP... Active Investor in Detroit

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216
Originally posted by @Stephen Lovett:

Thanks @Richard Dunlop

Yes. My returns are incredibly good. Better than anything I've heard from other investors. They might even make your head spin.

Where are the properties located.  Bp people like facts not just talk.

Now you said Detroit but also said metro Detroit which is it

Post: New to BP... Active Investor in Detroit

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216

there is a monthly meet up group.  Do a search on FB for  Michigan real estate investors.

Also set your key words.  Put Detroit in and you will get notifications when its mentioned lol which is all the time

Post: Visiting Detriot, MI

Scott K.Posted
  • Real Estate Investor
  • Madison Heights, MI
  • Posts 693
  • Votes 216
Originally posted by @Andy Chu:

Vegas market is no longer a cash flow market unless you get excited about a 4-5% cap rate. 

How many properties are you thinking about?

Are you stuck on Detroit or the metro area.

Don't let the locals fool you with garbage.

Numbers lie in Detroit all the time.  The numbers never show you how many furnaces you will need