All Forum Posts by: Stanley Diaz

@Terry Lao

I love the info, sounds like you done your home work.

I remember when properties out there where in the low $50k's.

I have about $200,000 in equity lines and about $50,000 cash (I know its not much) I want to invest and not sure where to go. My goal is to accumulate rental properties and/or flip if I ever come across the right projects.

Any good ideas?

@terrylao

Thank for the input. Do you have anymore info? Maybe more info in what areas to look in or what areas to stay away from?

Does anyone know if BRRRR or investing in Las Vegas, NV rental property is good right now (June 2018)?
if yes, what areas?
Does anyone know good realtors that can help find properties in those areas?
are auctions good in vegas?
is the rental market good?

Lol. Gotcha.

A friend of mine told me he bought 8 homes between $12,000 to $16,000. If he lied, then Im lieing. But I do see them listed in $20k. Its not hard to believe you can make a $12k or $16k offer and get it accepted.

Either way, give me more on your take of the area and other competing areas?

@jody thats a bold statement. Can you tell me more why you think that?

Hi Everyone, I think this conversation needs to be revived, I'm wondering if anything changed since 6 years ago.

Me and some friends are thinking about buying in Dearborn area, I guess its considered the Detroit suburbs???. Can the locals tell me, is this considered a war zone area??? as you can see, I don't have a clue what's going on there.

I seen some decent properties go for as low as $12k that can rent in the $750's. are these a good deal, if not, why???

I read all the comments, so far I learned:

1. secure the a/c and heating systems to prevent theft.

2. Beware of squatters, secure the house and rent asap.

3. Use section 8 if possible (what's the down fall other than poor tenants??)

4. Don't include appliances or charge a higher deposit if including appliances

5. Get a good property manager.

6. I heard the city will require landlords to build homes up to code soon (what does this mean for older homes? is there a building code many homes lack that is expensive to fix that maybe I don't know about?)

Simply said, is Detroit/Dearborn a good area to invest?

@Sean Walton Im starting a direct mail and door to door campaign. Well see how that goes.

I am a licensed real estate broker since 2002 and had my ups and downs. My career was mostly in the Inland Empire but now I live in North Hollywood, CA located in the San Fernando Valley area. Over the years I accumulated a ton of experience on closing single family deals from A to Z and can handle almost anything from open to close. But when it came to prospecting and generating new business, I just simply sucked and could not prospect if my life depended on it. Once I had the client, I did very well. I always had some hits but more misses in regards to prospecting. Nothing really worked for me. I don't know if its because of the crazy competition in our southern California real estate market or if its just my selling skills (probably my selling skills). 

I am very burned out on the idea of running a "real estate brokerage" and feel ready to shift my focus to my original dream which got me interested in becoming a real estate agent in the first place; fix n flips, buy-rehab-hold, wholesaling, new construction and maybe help a buyer or seller here and there when the opportunity arises.

Is there anyone out there facing the similar problems or maybe have good advice on marketing, success stories or advice in general?

@Ryan S. I can not recall, but my HELOC was for $141,000 at 70% LTV. 70% was the max LTV.