All Forum Posts by: Account Closed

@George P. Are you still finding deals in these areas and if so what avenues are you finding them with? MLS, wholesalers?

Is anyone direct mailing / marketing in Livonia, Westland, or Garden City Michigan? Specific zip codes would include 48150, 48185, and 48135. Is anyone having recent success in these areas? I am looking for some properties to fix up to rent out

I am under contract on my first investment property in the Metro Detroit area. I have talked with two mortgage brokers and both have told me that I have to put a minimum of 25% down on the mortgage. I was initially wanting to put 20% down and really don't want to tie up the extra capital in my first property. The property is  a duplex and will be non-owner occupied. Does anyone know any lenders in Michigan / Metro Detroit that do < 25% down on a property like this? I was looking at a 30 year fixed rate but would be willing to see what other options are out there if I can put less down.

No I do not have an area locked down just yet. As of right now I am looking across Metro Detroit staying away from Detroit and some boarding cities. I am still new to all of this and with time and education I will start narrowing down my cities of choice. I have looked at 2 properties in Westland but they were both a no go. I really need to make it out to some local REIA groups to see where other investors are focusing. My novice opinion is that we are at the peak of the market right now and most "deals" I see are other smart investors who bought at the bottom and trying to unload their inventory. I am convinced there are still deals to be had, just very hard to find so I need to get creative.

Welcome Alejandro! I am also a new investor in your neck of the woods. Looking for my first deal as well but looking for multi-family. Good luck and hope to connect!

I am looking to buy my first investment property in the Metro Detroit / southeast Michigan area. If anyone has any leads on 2-4 unit multi-family properties in C (no Detroit proper please) and up areas please let me know. Thanks for the help!

Welcome to BP! I am also a new investor in the area and looking for my first deal. I think the key to investing (and pretty much most things in life) are to take action and start working towards your goals which looks like you have already begun. Good luck with your first property!

@Nick Grodzicki Fire Up Chips! I'm a also a new investor, focusing in the Metro Detroit area. Welcome to BP and good luck!

@Joe Doman congrats on your success! very motivating story. I am new investor just a little north of you in Plymouth. I am still trying to learning the ropes by analyzing deals before jumping into the real thing and purchasing my first investment property.