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31 December 2024 | 76 replies
I keep seeing more that I need to learn before I move forward on a property.
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2 January 2025 | 8 replies
Be prepared for the learning curve with Detroit—it’s rewarding but comes with its fair share of challenges.If you’d like more specific guidance or have questions, feel free to DM me.
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16 January 2025 | 10 replies
Most hard money will be interest only payments on the full approved balance of the loan whether or not if you have pull the draw funds for repairs.If you have any other questions, post them in the same thread below so that we can all learn from the answers.
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18 January 2025 | 16 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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2 January 2025 | 3 replies
Outside of real estate, I am a Firefighter and have a beautiful wife and 2 kiddos.Excited to learn and connect with you all!
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31 December 2024 | 418 replies
Feel free to book a 10-15-minute call to learn more.
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2 January 2025 | 32 replies
It'll be a good learning excersize.