All Forum Posts by: Richard Dunlop

Welcome glad you made it.

I guess it's deja vu all over again!

I'll answer your objections in the coming days but 

let me just say I'm glad you hate Detroit!

As long as people keep hating Detroit, I will keep making lots of money. 

 Join in the discussion, the latest two participants are:

A lawn boy  Lawn Care Expert who I'm presuming has never been to Detroit reading 5 year old newspapers at the barbershop, and making jokes about Detroit.

An Attorney that lived in Beverly Hills California talking about possibly making Detroit his primary residence after the visit he made last month impressed him. 

 Did you see our neighborhoods that are nicer than Beverly Hills while you were here?

When I first came up here i was shocked to find it wasn't one tenth as bad as I was expecting!

It has gotten much better but some of the reports are sounding worse.

Most everybody that actually visits is impressed with the city and the suburbs.

Don't buy Turn Key properties in Detroit

It takes more than a Property Manager to be successful in Detroit!

It's not the $198 upsell that you need to worry about

it's the $10,000 or more upsell that comes next!

I know but I'm not telling...

I agree with the others that it is a strange choice, but I made a similar choice when I was living in Orange County California and relocated to Detroit because of the opportunities up here.

For me I guess the best way to put it was to decide if I wanted to earn a living by investing in RE or just do it as a hobby. I wanted to earn a living by investing in RE so I chose the market with the highest overall profit.  The appreciation was a surprise better than I could have done anywhere else.

See this article Putting Wayne County Median price rise at 43% in one year

One Year June 2014 to May 2015 gains in Median Sales Price

Wayne County ( Detroit is in Wayne County ) 43.1% from $80,000 to $114,500

Macomb County 9.6% from $123,000 to $134,825

Livingston County8.6% from $197,950 to $215,000

Oakland County5.9% from $193,600 to $205,000

@Jay Hinrichs

I meant to ask above if there are markets that you think TK if a viable investment vehicle?

(but my question disappeared)

I DO NOT RECOMMEND DETROIT for TK type of investments and I am suspicious of TK everywhere. There are better ways to invest in Detroit and suburbs

@Mark Rauch

"... If there are opportunities to purchase for under $5,000.00, I would expect the company I align with would disclose this."

The turn key provider is buying them and then rehabbing them and selling to you!

See this thread Pg 3 where I stop a Hong Kong lady from buying a TK house for $45,000 that the TK provider had bought for $500 and hadn’t even evicted the deadbeat tenants yet.