Faced with mounting expenses, extended timelines, and diminishing returns, we ultimately decided to sell the property instead of continuing with the BRRRR strategy.The Insurance Mistake:The biggest lesson I learned was that I had the wrong type of insurance.

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.

So, even when the market is challenging, you can still see properties and stay current.Don't take a break when the rates are high.

@Celine Besson there will be several challenges:1) Finding a Grate Property Management Company. - See our copy & paste advice at the bottom of this response.2) Managing the Renovation- Everyone thinks a PMC can easily do this. 

Challenges?

You can find decent SFHs in the $150k-$180k range that can cash flow if you buy right.The challenges?

Hi Jonathan,Congrats on your first big renovation deal—it’s an exciting challenge!

Challenges?

Challenges?

This is one of the most common challenges in the LA County community on BP.