I almost went bankrupt my first year investing due to contractor fraud and literally had to move into one of my flips and watch YouTube videos to finish it myself to generate enough money to finish the next project and so on. 

I have seen a lotta good guys go bankrupt in this biz ownig rentals.

The investor will thank you for all of your time while you are going bankrupt. 

Run a credit check, and if you want to rent at $650, rent between $725 and $750",One of them went on to say "The quality of your property is the quality of your tenate", I feel a little less than satisfied, as I know of one who had 6 rentals, and his horror story was people stripped everything out of the properties, and ultimately caused him to go bankrupt!

Hello all,

I am a new investor wanting to get rental properties in the Detroit market. During my research on finding properties, the news breaks that Detroit is filing for bankruptcy. I'm basically looking for advice...

So, you could have a fire in your building, management company could go bankrupt or be corrupt, could change hands and be less responsive, market could have a significant downturn due to job loss or other reason, hyperinflation could make your asset next to worthless or you cash strapped, zoning could change, things around you could be built that lower your value yada yada.

let us say that i invest via fundrise syndication deal. what will happen if fundrise bankrupts?

Second one went bankrupt 3 years ago.

Not sure how someone with tremendous net worth goes bankrupt just because assets aren't producing income.

THere may be other lien holders... you should find out about that.On the day of the Aucton, the county will start the bidding at their costs (Say $1,200), the 2ed bid (almost always) is the bank will bid that plus their lien (So $221,200)... the bank will then start praying that someone else bids..... often no one does.THEN the bank owns the house (which they never wanted to happen), so then the bank who works as fast as glaciers, get the paperwork ready so they own the house and can sell it (weeks to months, add time if someone is dead or bankrupt), once they have the paperwork they figure out how much money they put into this, they add some profit or negotiating room, bounce that off of an in-house (ie approximate) appraisal and generate a list price, they then give that package to their whipping boy the "Foreclosure agent", who posts it on MLS or gets a buyer and is expected to get only 1.5 or 2% of the deal as a commission.So you can find out what the bank will bid, if you can catch the property at the sheriff auction, which may be (way) less than the market price and the bank would be happy to let it go as long as they are paid...