Our ARV came out lower than I had hopped- actually it came out exactly where I had ran my numbers at, but with unexpected permitting requirements and increased material costs the project was about $70,000 over budget for the rehab.

If you can’t increase cash flow or refinance soon, selling could be the right move.

In case you missed it, Detroit' Mayor Duggan announced that the value of houses in the city increased 23% in 2024.In the last 7 years, Detroit housing is up over 300%!

Remodel while the property is still in your name to increase its basis, which can reduce future capital gains taxes, and take advantage of the capital gains tax exclusion if you sell within three years (up to $250K for single filers or $500K for married couples).

With vacant land becoming increasingly scarce—especially in Southeast Michigan—could we see a rise in home teardowns within established subdivisions?

@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

Purchase price: $550,000 Cash invested: $150,000 Sale price: $800,000 "Acquired a 3-unit beachfront property in Carolina Beach, renovated to increase rental value and resale potential.

Over the years with rental increase, today these both rent out for $1,350 each for a total of $2,700.

That has been a huge issue all around but there has been an increase in the rent collection sector. 

The bad ones will want 50% upfront, you'll have to plead for update pics, they'll find reasons to increase their initial bids (multiple times) and will want final payment before meeting you for final walk-thru.Many investor-friendly agents have NEVER owned a rental, so you can't really rely on their advice.