All Forum Posts by: Account Closed

@Chad Howard  Welcome , this community is great.

You should consider some part time wholesaling you could incorporate this into your investment startegy. Buy the homes at well below market rates and with inbuilt equity . Bypass the MLS and go straight to the deal saving yourself thousands in the process . If you consider this then it would pay to contact a local successful wholeseller for some pointers and mentorship . If you come across properties you don't like you could also on sell them to other investors which gives you extra $ to spend on your investments .

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@Tiffany Swann an EIN from the IRS also is needed , well that's what I believe . 

@Arla Wilson  you should seek the advice of a contractor and then factor that cost + 15% and work it into your figures . There is probably other similar deals without the foundation issue . That's what i would do anyway ,

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@Joe Villeneuve 

 Thanks ! I am open to all of the locations , Warren , Redford , Detroit etc.

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Hi All ,

I recently made the move from Perth , Western Australia to Detroit Michigan to head a property investment company. It's been great so far , good experiences. Im currently focused on relationship building as to mitigate any mistakes. It's been so far so good.

City is full of good people and not nearly as bad as the reputation it has, I have submitted a blog post if you would like to read more.

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 Try Freelancer.com you can choose who you want etc .....very competitive but do your diligence on who you deal with.

 I think everything is intimidating or scary when we are not adapted to it. There is always a way around or a way to make it work it , in these areas it must definitely  be a local property manager who knows how to work the area and collect rents.It might mean paying him 15-20% of the rent collected but if you are cash flowing like those high numbers in Baltimore it all evens out if he gets the job done.

I wouldn't hire a middle aged lady from the suburbs to manage these properties - she probably wouldn't be interested anyway lol - just my personal opinion anyway.

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 No worries Ali will do , 

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 Thanks Derrick , I appreciate the positive encouragement. 

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  Hi Ali , I put a lot of thought into it and research. I thought I had a market locked in about three months ago but something kept making me think , perhaps the little voice in my head that said " it's time to re-analyze the Detroit market". I know people associate Detroit with alot of bad things but in my opinion is it is now on the up.I have no intentions of investing in the rough and really run down suburbs but in the quality B class neighborhoods. 

A simple google search will provide you with the positive things happening in the City. I actually think I have missed the best time as an investor which was probably 3 - 4 years ago but there is still tons of potential IMO.

As we always hear the best time to invest is when the market is depressed and has not reached full potential.

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