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All Forum Posts by: Todd Douglas

Todd Douglas has started 11 posts and replied 168 times.

Post: Feeling Stuck, need advice!

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

@Saravanan Saravanan Thank you much for that. I was just doing the whole taking incoming leads thing, and felt like I grew out of the whole dealing with homeowners thing, but in reality that can be more secure. Just having a professional bumper moment. The groups I am into, and have been obtaining more knowledge and relationships lately

Post: Feeling Stuck, need advice!

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

Yeah, that is definitely part of the plan. Making deals is a big part of how I gain more capital to fund my own purchases. It seems as though I will have to re evaluate the foundation I want to build my business on. I have to become knowledgeable about financing deals for the bigger deals I come across. How is the IN market? @Jaron Walling

Post: Feeling Stuck, need advice!

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

So, I am a licensed real estate agent in the state of Michigan, but I've been wholesaling for quite some time now. Aside from a couple rentals, making deals is my only income. Wholesaling, in my opinion is dying. Its becoming saturated, not only that, but saturated with those who dont know or care to know about the business. Just chasing a dollar. They make their money by gouging buyers with super ridiculous fees on one deal instead of considering longevity. Anyway, I have a substantial amount of buyers and sellers to fulfill supply and demand. However, I am having a tough time keeping momentum in the aspect of deals. Any advice? I know one is to get an effective assistant so I can be more than one places at once adding value and creating/maintaining more solid relationships. 

Post: Should I buy it? Please advice me...

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

@Tahmid Kazi Yes, the documents mentioned(rent roll, expenses) by @Jon Reed will help you determine real numbers. Its just safer as the property may be leased to make 3400/month, but one tenant could be behind a ton of months, or maybe not. Just hedge your investment as best you can

Post: New investor from Minneapolis area.

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

Welcome to Real Estate from the Metro Detroit Market. good luck in your endeavors 

Post: Should I buy it? Please advice me...

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

Yeah, the proof that the property is actually performing and real proof of expenses will definitely help

Post: Monroe MI contractor / agent

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

@Courtney M. See below. Hope this helps

Post: Raleigh, NC area investor info

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

I have a fund looking in that market, are there members of the group that I would be able to connect with to lead me in the right direction? @Jason K.

Post: Investing in Detroit

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

@Marisa R. Morningside is growing indeed. I am anticipating the growth of the surrounding areas right outside of both neighborhoods values are still tremendously low(Chandler Park Dr, etc.) My buyers are hesitant when it comes to purchasing in those areas. 

Post: Investing in Detroit

Todd DouglasPosted
  • Realtor
  • Detroit, MI
  • Posts 183
  • Votes 32

@Travis Biziorek I actually have out of state/overseas buyers who purchase the product that I come across. Most have been in the game for a while so that makes it a smooth process, but if something goes wrong or a piece of the puzzle is missing and holding up closings, the time difference can be a big pain.