All Forum Posts by: Richard Dunlop

I am in a pretty hot market like in South Florida. Rent is pretty hot but to get a 2% on a house or property is a pretty hard find. but What if I wanted to get lets say a house worth 300K and rent it for about 2,400. and if I get to just finance 150K.

Is it worth it ? I wont be upside down since I get to put so much down and I can effort the monthly with my job.

Any advice will be appreciated.

Thank you.

Would your $150,000 produce better returns if employed in some different endeavor.

0 Votes

Do both sides make a profit agreeable to them?

0 Votes

Check NOLO

1 Vote

Originally posted by @Jeff Rabinowitz:

@Richard Dunlop, the Renegade Detroit Investors meet at Corktown tomorrow night. Here is a link to the Facebook URL: Renegade Detroit Investors June meeting. Do you ever attend their meetings?

I haven't yet. But I did have tomorrow in my plans Corktown Tavern 6:PM I own several properties right there I can walk over.

1 Vote

@Scott K said:

"I don't mind being a cheerleader for Detroit but be honest a don't lie. Also stop spewing that billionaires are investing and making money in Detroit. That means nothing to the person with a few rentals. People that spew that are dishonest idiots."

Scott this one I don't get at all. There are people on this web site that post articles when a company invests $10 million in Detroit.

You don't think it's relevant to the discussion that Dan Gilbert has invested $1,700 million in the past 4 years???????

Or that the Ilitch Family (Little Ceasars Pizza ) and Penske Family have also slightly less recently invested????

Is that not good for Detroit?

0 Votes

When I first came up here 6 years ago, I was surprised it wasn't 20% as bad as I expected based on news reports.

It's gotten better while some of the news have gotten worse.

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Glad you got most back. Still an expensive lesson!

0 Votes

Originally posted by @Che Chiu Wong:

Originally posted by @Gil Cortes:

Hi Everyone,

Just Curious is anyone picking up property in Detroit? if so why? if not why?

Allergic to bullets - that's why.

I lived in a beach community in California in a house that Zillow says is worth more than $800,000.00 and heard gunshots on a regular basis about 50-60 shots total.

I've lived in Detroit for twice as long and not yet heard any at all. Not one.

3 Votes

Originally posted by @Richard C.:

My brother-in-law is a new agent in this town/city whatever (looks to me like formalized segregation, frankly. Polish/Ukrainian/East European enclave entirely surrounded by Detroit.) He's very keen to sell me a rental house there.

I haven't purchased out-of-state before. The purchase prices in Hamtramck make me willing to basically buy just to throw him a bone, but I thought I would toss this out to the BP community and see what people think. Having a reliable local contact in the form of my brother-in-law is obviously important.

What say you?

Will he manage it for you? Hamtramck has good and bad and similar to Detroit. If someone is watching it for you it could be very profitable. Without the BiL connection I wouldn't.

0 Votes

Originally posted by @J.R. King:

Hello BP family,

... I am currently a sales manager at a lawn fertlizing company. I have been in the industry for 6 years, so I know a lot about lawns.

Welcome to BP I know about REI but I can't quite figure out my lawn.

0 Votes

All Forum Posts by: Richard Dunlop

Richard Dunlop has started 7 posts and replied 714 times.

Post: I hear a lot about the 2% rule and cash flow but what if

Post: FLASH POLL - Good 50/50 Partnership? I provide the deal, execution of rehab and partner provides all cash?

Post: Software for corporate minutes

Post: DETROIT and MICHIGAN (#1 Defender answers questions)

Post: DETROIT and MICHIGAN (#1 Defender answers questions)

Post: DETROIT and MICHIGAN (#1 Defender answers questions)

Post: Please help $41,000 paid to a guru company to be refunded !

Post: Detroit??? Has anyone been purchasing there? Why, Why not?

Post: Hamtramck, MI

Post: Good day