All Forum Posts by: Tristan Taylor

I bought a salvaged AWD 98 Astrovan with 149k miles, removed all the rear seats/benches tossed some air freshener in it, bed lined the entire thing black and put on some Michelin’s.. total cost of my “work van” —$800. Serves its purpose and I actually prefer it as opposed to my DD Rubicon.

Point being , live within your means and enjoy this life along the way.

@Keyonte Summers

Hey Keynote, what about non owner occupied/investment properties? Any experience? And I assume they would take the rental income into consideration, correct?

@Keyonte Summers

Good stuff as I am also an OOS with my eye on the Fitz/Bagley area as I am in Detroit now driving the blocks.

When applying with Huntington, have you had any issues going through the process? Do they require tax returns and is an appraisal necessary? Have you ever refinanced with them ?

Let us know your experiences and Appreciate any insight that you may have!

Will be out there again the last weekend of the October. Would love to connect, if you are around !

@Salvatore Lentini

Hi Sal,

Good stuff. I’m in a similar situation, care to share your sources?

Thank you!

Hi BP,

So I came across this property that I am strongly considering buying but I keep having mixed feelings about some elements of the property.

There is a some structural concerns with the porch overhang on both of the units at the front door of the residence that is massively leaning and my concern is

1) is this something that is highly expensive to repair (eyeball estimates please)

2) is this something that I could ask the seller to replace in the contract before the sale

3) Could I be potential sued by a tenant IF I take possession and it were to collapse? This property is in a Snow State

Lastly with the respect to rain gutters, if they are not properly installed or outright missing, is there a concern for potential roof damage and drainage concerns that I should be aware of ?

Thank you all for your assistance

@Danielle Evans

Congrats DE on your acquisitions. I’m an OOS that visit Detroit every other weekend to scout properties. Actually here now. What neighborhoods did you invest in and how are the projects coming along?

To add to the OP @Danielle E. , yes I have heard that the rehab costs can be significantly more expensive in the historic districts. While walking the blocks of Boston Edison, I had a chance to spend a day with a property owner as he was rehabbing himself and one thing that he did point out was in such district you have to use only zone approved paints/colors as well as windows. Particularly the windows and the molding as such would HAVE to be tempered glass and wood frames. In any other district you could use vinyl etc, but in historic districts most cases your home needs to be as original as possible on the exterior. 

I too am looking to invest in the Fitz, Bagley and Russell Woods area. Will be heading back out to DTW this weekend. Hope this helps and congrats on your closings! Please share your diary with the community when you have chance. 

What state? :)

CONGRATS!

In the process of buying a $20k SFR currently renting $700 and a $42k duplex renting out $1100, buying from the same owner. $3k cash reserves for Capex. All in $65k at the moment