We have tried multiple local collection agencies, and we have not received a penny for over a hundred thousand dollars of bad debt submitted to them.We keep hearing, "It takes time" but it's been well over a year with the most recent one.

It forced me to reach out to developers, to engineers dozens of local builders and most important like minded individuals.

I’m not local, so I’m trying to get a feel for what it’s actually like making deals in this market right now.

Start networking with local agents and investors for insights, and talk to a lender to get pre-approved to understand your budget.

I've found deals in local online groups on Facebook, simply asking people for what I want. 

The best deal I can find today is one that you buy cash, invest a rehab and when you pull out 75% of your ARV you leave maybe a small amount of money in the deal and you break even (BEFORE DISCOUNTING FOR VACANCY, REPAIRS, etc) Yes that means you leave like 10-25k in the deal and your payment becomes $3000/m and your rent is $3000 a month or slightly less.This is for my local market and for Class B or higher RE. 

I would like to speak with local investors, real estate agents, property managers, lenders, etc. from the area.

Finding an engineer that's highly regarded locally can help slipstream your efforts.

Just be sure to check local regulations because some spots are cracking down on STRs.

Hoping to connect with fellow Canadians that have invested in Detroit and start making local connections too!