All Forum Posts by: Richard Dunlop

It takes more than a property manager to be successful in Detroit and most of the bargain suburbs of Detroit. (Warren included) 

The whole area is an excellent choice for investment as it has higher appreciation than anywhere AND highest cash flow. But handle it different than other markets.

The last thing I would do is buy a property hoping it would cash flow in 10 Years.

I personally think the high markets will crash before 10 years.

I'm sure glad I chose the market with the highest appreciation AND the highest cash flow.

 Yes just be aware it will be harder to get approved for new cards with the high balance, and those 0% offers are normally for the new cards.

 Instantly no permanent damage as soon as the individual card is back to less than 10% utilization.

You would gain back some of the points with each partial pay off:

Down to 50%

Down to 20%

Down to 10%

Down to 0%

Depending on your overall credit report, Maxing out 

1 card would likely drop your FICO score 50 points.

Typically the Bank will require proof of funds before they accept your offer.

 Excellent article

 I think I'd want a better than 10 cap rate if i was buying for $1

 It's already started! I wish it would slow down a bit.

I got in exactly right and it has been way better than I could ever have imagined.

Goal is 300 doors this year mostly SF

Jump on board 

Detroit appreciation is better than anywhere AND cash flow is better than anywhere also.

I read these posting where people are trying for years to get started and still doing nothing after planning for years.

In Detroit $20,000 will buy you 8-10 houses with $1000 a month positive cash flow after you split 50/50 with a local partner. 

Congratulations Jay on 8000 posts. You add a lot of knowledge to BP. But you are missing the boat on Detroit.