My opinion is don't try this in Detroit proper. 

Trying to find quality subcontractors and writing proper contracts I would not recommend for somebody outside of the construction industry.

Just because someone has a real estate license doesn't mean they know how to properly screen.I'm surprised dual representation is even allowed.

It may make you feel better that you have it, but many instances its useless because its not the right situation or was done properly. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

: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.

However, it adds complexity, costs, and doesn’t guarantee tax savings without proper structuring.

: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.

Hey Francys, I've been investing in Detroit since 2019 and I've also been working with investors for the last 18 months.The sentiment has drastically changed over time and here's how I'd sum it up.In 2019, when I purchased my first rental in Detroit proper (not the suburbs), I was told that I was crazy.