Ugh, Madhuri, as someone who is heavily invested in Detroit and helps a LOT of out-of-state investors get started there, this makes me sick.I talk to about a dozen folks per week looking to invest in Detroit and I've heard my fair share of Flip Systems folks.

The issue is legally be allowed to raise rents and getting around what the city believes is fair market rents.

Also, it seems fairly safe for someone like myself- looking for a first investment and of course building wealth, but perhaps even more, trying to "get my feet wet" and learn the processes while getting a feel for real estate.

Expect 80% and maybe get 85% if you have a good deal and credit north of 720.So on 80k that is 12k, then closing costs of at least 5k. 

-William Platt - Owner of The Vault & The Bank (Confirmed)-Byron Ellis Raines (Confirmed)-Marvin Fox (Confirmed)-Freddie Jones II (Confirmed)-Michael Barney -Wendell Olden (Claims just being used, not part of Fraud and might be one of their "Straw Buyers" for his good Credit)-DeKalb Notary - Frank Brake III (Confirmed)-Jeff Deville - Lender Broker with Will Platt and Bryon Ellis (definitely aware, I have directly informed him of the fraud these guys are/have committed yet he still continues to work with them to push loans through, so unsure of his actual role or knowledge or the lack there of with the rest of this mortgage fraud group)-More names coming...PLEASE SHARE THIS POST OR TAG ANYONE HANDLING LOANS IN METRO ATLANTA THAT YOU MIGHT NEED TO SAVE FROM THESE GUYS!!

Quote from @Faysal Alam: What banks or credit union can I use to refinance a car under my LLC name , my car is a 2023 Tesla model y performance , I owe $42,500 on the car , I’m looking to refinance the car under my business , my business was established 03/2023 .

DSCR loans are great options when the borrower has good credit and the deal is really solid.

Of course, fairly we could say neither did we.

You as the buyer also have rights under fair lending and you should never be forced to use a builders lender. 90% of the time lenders drop the ball and end up not being able to close on time or their overlays cost the buyer the deal and in some cases earnest money.I would walk away from a deal that forces you to put $50K in earnest and use some generic lender who may not even be able to close the deal.

This is fairly common in college towns so I'd recommend verifying that before going off on a buying spree.