All Forum Posts by: Richard Dunlop
Richard Dunlop has started 7 posts and replied 715 times.
Post: What is Success? How Did You Know When You Got There?

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Ben Leybovich:
Being a guest on not 1, but 2 BiggerPockets podcast where I get to yell at @Brandon Turner about doing everything wrong - that's success baby...! I know I've made it :)
I see @Brandon Turner posted in the opposite forum those same two episodes as recognition of his total failure!
Post: Cost of building a SFH on a vacant lot?

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Manolo D.:
Originally posted by @Matt Blackman:
Hello,
I'm trying to get a sense of what it would cost to build a SFH on a vacant lot. Assuming that current zoning allows for construction of a SFH, other than purchasing the land what types of costs would I be looking at to build a home?
Thanks,
Matt
To get a more accurate rate, go with Rob's post.
For a more broad cost, all in should be around 120-160. Maybe around 600 if you build in Detroit, where you build something today and its gone tomorrow, demographics matter also, too cold to work, too many rainy days, etc.
Cost of construction in Detroit is similar to costs everywhere else and quite often higher because of above average construction.
My 1882 house built with 500lb quarried stones was not built today and is not gone tommorow.
It will probably still be standing 100 years after the wood/frame/stucco Styrofoam window frames homes being built in Hesperia/ Riverside/ Victorville by Pulte Homes have all been bulldozed down.
(I walked through subdivisions where you could buy 3 year old homes for 1/4 of new price from the banks that had foreclosed 9 out of 10 homes. There were already cracks running through the stucco in many of these homes. And yes all the fancy features were Styrofoam blocks sprayed over with stucco. 2008-2009)
Post: Cleveland/Detroit house flipping?

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Kyle Steele:
My husband and I have some money we are looking to invest. We have been considering buying and flipping a house in Cleveland or Detroit area. We really have no experience in this and aren't sure where to start. We are from Utah but living in Cleveland for the next 4 months. Anyone have any advice on what our first step might be?
Why are you in Cleveland for only four months? will you be returning?
If you are renovating a house that you have not yet found, four months is maybe not enough time?
Post: Fair Pricing of Vacant Land on lease option or other mechanism

- Investor
- Detroit, MI
- Posts 755
- Votes 462
12 posts and 9 are redundant
Post: The Story of Gentrification Part 1: How to Spot It

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Kevin Wood:
Enjoyed the read. Wish I would have been in the Bay Area and bought in Oakland 15 years ago!
Downtown Detroit is doing that NOW!
Down town has an occupancy rate higher than SF higher than NY.
Post: TINY houses... Fad or here to stay??

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Douglas Larson:
I will attach my "Tiny House" photos at the bottom.
@Joel Owens Tiny homes are fascinating to me.
Cute!
I could fit 18 of those in my basement.
Post: Trash Hacking

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Mark Gallagher:
If there was nothing of value, why would the thrift store owner clear it for free?
I found a real silver dollar and other silver coins I'm sure the dealer found other valuable items but mostly trinkets and furniture that the burglars did not carry off. He hauled 7 truck loads out to his store.
Post: Trash Hacking

- Investor
- Detroit, MI
- Posts 755
- Votes 462
I bought a forclosure house that had a hoarder(collector) living there for 40 years. Six bedroom house that literally had 2-3 feet of stuff covering every Sq foot.
It had been ransacked by burglars in the 2 years since he went in a senior home so there was nothing of obvious value.
I found a thrift store owner that cleared it for free; he brought big bins and I supplied garbage bags.
House had a large enclosed porch to accumulate the bags and matresses etc. Small city Detroit suburbs we would put out 20 bags a week.
I went by one week when the trash men were picking up and asked him if we were putting out too much. He asked me what else I had and came up on the porch and took another 30-35 large bags.
We got rid of 160 bags of trash plus lots of big stuff matresses etc.
Thrift store owner halled 7 truck loads and also delivered a few things to my house that I wanted.
Most cities up here use the roll out bins and limited times pick up bulk but this one has no bins and picks up bulk with the regular pick up.
The mounds of trash got me a bargain on the house but I got it cleared for free.
Post: Cashflow Doesn't Build Wealth?

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Jay Hinrichs:
had not thought of returning to Detroit but your probably right, we did very well there before the epic melt down and got out before that happened. I really liked the little sfr bungalows... before I ventured back I would only do it though with those that are total experts in the market place... in the day when I lent in Detroit I was doing the HML with rate and term refi exit... I would not be comfortable with that model in that market yet.
But to local players I would revisit it again.. PM me and let me know exactly what your doing
I'll do that. Thanks.
Richard
Post: Darren Sager Invited Me

- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Matt Lane:
@Darren Sager looks like @Karen Hurd couldn't respond to your email since you aren't connected. Thought I would loop you in to help her out one last time
Send him a colleague request and ask info in the request.