Challenges?

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

How do you approach an owner when asking them to sell their property?

I’ve heard anywhere from 10-20% of the rehab budget, but curious how you approach it, especially for bigger projects. 20% of a 115K rehab is 23K.

Is this approach appropriate? 

I’m actively working on agent outreach and direct-to-seller approaches and would love to collaborate or learn more about your investing criteria.This community has been such a tremendous resource for me, and I’m eager to give back by helping others find great opportunities in Columbus.

Investors Love ItOne of the biggest challenges in real estate is raising capital.

That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

Blanket notes are not de-duplicated currently when they are recorded against multiple parcels.Blanket notes are detected, but aggregating them is currently a challenge that has not been solved to our satisfaction.

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.