All Forum Posts by: Richard Dunlop

As I'm sure you know, Detroit also has neighborhoods where the ARV will be $300,000 inside the city limits. Not much money is made trying to wholesale $16k houses. But as @Marvin Rice pointed out it would be profitable as a rental BUT only if you have good neighbors to watch it for you.

ABC Anywhere but Cleveland 

ABD Anywhere but Detroit

ABM Anywhere but Memphis (You've heard of the ABM treaty )

 Sure

I don't work that cheap!

I buy in Detroit for the Appreciation the Cash Flow is fantastic gravy!

There is no place like Detroit for the local beginning RE investor.

Small dollars yield big returns!

I'm glad I chose Detroit, but there are many things to be careful about as with all of the low price markets.

My personal experience I have seen appreciation better than anywhere else in the country and think it will continue at the high pace for years to come. Detroit is coming back way too fast I wish it would slow down a bit.

What does BP mean?

JK

Wow you called that one wrong!

I too left California lived in all three of the major metropolitan areas.

Orange County was the one I escaped to Detroit from. Glad I left.

Glad I chose Detroit! 

@Jason V.

Government has a Knack for doing exactly the opposite of what it intends to do.

A minimum wage of $15 an hour would gut the middle class!

It won’t hurt the chain restaurants as @Joel Owens

points out they can afford to buy machines to replace workers.

It won’t hurt Walmart because it will put all of their competition out of business.

It won’t hurt Home Depot but the neighborhood hardware store will be no more.

The mom and pop Dry cleaners where 2 family members are each already working 50 hours a week to take home $100,000 will be bought up by the multi owners. It will take ownership of 6 dry cleaning locations (each profiting $25-$35,000) to make a good living. The single store owner will become an employee of the multi owner.

@Jason V. 50% of the $9 hr jobs will be gone Won't hurt the the big players at all in fact as I pointed out it will benefit some of them. It will eliminate the lower rungs on the ladder up. Also some cities it won't hurt Rochester it will.