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20 February 2025 | 3 replies
Already replied to your other post about Detroit questions.Your latest questions:1) Simple: you don't offer asking price, you offer an amount that makes your numbers work.2) You're looking in the wrong places, using the wrong search criteria - there are tons of deals available!
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8 February 2025 | 29 replies
We have a decent amount saved up and have thought about doing a out of state deal but might be good to do a deal near me to start out.
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3 February 2025 | 5 replies
I'm 2 miles from 2 hospitals (one is Swedish and I've heard that they get a fair amount of travelers) and within walking distance to Denver University.
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7 February 2025 | 6 replies
In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable.
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19 February 2025 | 13 replies
We have a good amount of guest that come for graduations at Fort Jackson, baseball tournaments, family get togethers, lots of people for various types of work trips, etc.
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10 February 2025 | 29 replies
Quote from @Chris Seveney: @Jay HinrichsI wonder as a broker if they needed to have a surety bond and could collect against the bond. most likely but its a small amount..
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9 February 2025 | 3 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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.
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9 February 2025 | 5 replies
But in my experience, you would be better off spending that same amount of time/hustle working a second part-time job with guaranteed income, then investing in buy-and-hold properties.
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18 February 2025 | 7 replies
That document will often show you when the plans were approved to build that development of X amount of homes.
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7 February 2025 | 2 replies
@Allison Cutlip I’d choose whatever account has the most flexibility and the least amount of fees.