We increased the rent slightly after the first 24 month lease and were able to recently increase the rent when the first tenant moved out.Lessons learned?

@Muriel Hair here's some articles about Detroit increasing over 20% in 2024...https://detroitmi.gov/news/detroit-home-values-increased-ave...https://www.cbsnews.com/detroit/news/detroit-home-prices-amo...https://www.detroitnews.com/story/news/local/detroit-city/20...

Readers should seek professional advice.

Readers should seek professional advice.

Readers should seek professional advice.

ADU construction is not 1:1. meaning investing 250k into your property by ADU will likekly not increase your property value by 250k.

If have investment property, we are looking for relatively updated units (we are ok doing some work ourselves), class C+/B tenants, with rents either close to market rate or that can be increased.

As we continue to stabilize supply chains, seasonal and historical patterns can provide insights for executing your next project, ensuring you factor in risk and stay within budget.Question: What are your thoughts on adjusting to the "new normal", how will investors manage increasing costs with many forecasting stagnant appreciation for the coming years?

I know in Philadelphia if I had a 2 BR house it would be viewed favorably by tenants who are seeking 2 BR living situations because most inventory will be apartment style living and for this reason would achieve a rent premium.

This means that not only do we lose the unpaid assessments, but we may also owe the management company the continually increasing pile of late fees.