All Forum Posts by: Nicole Williams

Luiz,
I use Craigslist all the time to advertise properties. Below are some techniques I use

*For rehab properties I use words like:
-I SEE A BEAT UP HOU$E-DO YOU $EE DOLLAR $IGN$
-Rehabbers DREAM
-I $EE DOLLAR $IGN$-DO YOU!
-All REHABBED OUT! HELP!
-COME FLIP MY HOU$E
-LQQKING FOR SERIOUS REHABBERS

*For homes that have completed the Rehab process I use words like, Completely renovated, all new ammenities, This ulgy duckling has transformed, Fully restored, come check me out!

*Also thing I found effect was adding the comps. People love numbers

*Creative use of words like the two capital QQ's to show eyes

*Personalize the add. My observation with most people are they dont like big business. I use phases like:
-please no calls only text (dont want to get fired)LOL
-Catchy headers NEWBIE N OVER MY HEAD :(
-Add humor. Once I used Where's the Gov Program to trade my beat up home??

Good Luck to you

Ray,
I completely understand. I'm rearranging the deal as we speak. As I said in my initial post Ive had houses similar and it was no problem to unload in the 20k ballpark. However every deal is different. I really appreciate your advice. If you have any other ideas please continue to share. That is one thing I love about BP, the plethora of knowledge. I will keep you all posted on the outcome!

Michael,
No need to beat a dead horse. This post was intended for those interested in making deals not too put down others deals. We are all here for a common goal which is too better ourselves. Lets keep it positive. Best of luck!

Patrick,
I agree. People who aren't familiar with the city or only hear whats going on via the news give Detroit a really bad label. Yes Detroit has some not so desirable neighborhoods but that's expected with any large city. Not mention the closing of the big 3 really effected the economy. Im sorry you feel that way Michael, in regards to Detroit but if were familiar with the city (like I am) you would know the renovations the city and surrounding metro area are going through. There are a lot of plants that are/will be opening in the area as well as extensive expansion of the casinos in Downtown Detroit. In another forum a gentleman, was trying to slam Detroit, saying its the worst America has to offer and he couldn't sleep at night selling anyone a property in Detroit. However he sells from Memphis TN (have you ever seen The First 48?) I could not disagree more. With beautiful neighborhoods like Indian Village Detroit is a diamond in the rough and investing in Detroit will certainly pay off. I will definitely keep you posted.

On the Westide,near southfield freeway

Patrick,
We lowered the price now its just a waiting game

Please help BP
I have a property in Detroit, MI on contract for $20,000. House has been vacant for over a year. House needs the basics:
-Plumbing (bath room and basement)
-Flooring (carpet, hardwood needs to be refinished)
-Paint
-Few holes fixed in the walls
-Sink and kitchen cabinets (rehabber ran out of money)
-Lawn maintenance
-Furnace
-Hot water tank.
-Some wiring

Pros: fireplace, the hardwood floors are really a jewel (once refinished, most houses have the vinyl flooring), new roof, and new siding.

I ran the numbers the ARV= $42,500 and the contractor said there is $15,000 needed in repairs. Still puts the buyer on top. Its close to the freeway and honestly its a decent neighborhood and could be a great cash flow property especially with the new plants opening in Detroit and the build of Downtown Detroit. Ive had this house for almost 44 days now? Ive had houses similar and it was no problem to unload in the 20l ballpark. My question is should I come down on the price, get another contract with the seller, or let my option contract expire?

That would be fine. You can find my contact information below :)

When investing in Detroit (as an out of state as well as out of the country) you need a strong property manager, that KNOWS THE AREA to handle/assist. As I said in the Morningside thread, Detroit is a tricky place because how each neighborhood is so different. I know neighborhoods in Detroit right off the Southfield Freeway/Warren area that you would think you in Dearborn Heights but go down to ten or so blocks and it looks like a war zone, every other home is vacant. ( Speaking as a Metro Detroit Native)

I would suggest to your friend:
-evict the tenant who is refusing to pay the rental agreement price.
-if the home is up to code, GET THAT HOUSE ON SECTION 8 ASAP. That is a good way of making sure your rent is paid. (Average rent in the Barton/McFarland area is $500)
-if still having problems having problems, sell the property. He probably wont make a profit because the last 5 homes sold were between $24,000-25,000 thousand but at least he can relieve himself of the headache.

I know a few good property managers that can help and I know someone there that could help him sell. Best of luck to your friend.

I am in the process of closing a deal, and I used the working backwards method to come up with a my assignment fee and what a difference it makes. I know see that I have previously sold myself short. Thank you very much BP for helping with this issue.