As of this morning July 2nd 2024, a full 2 weeks after writing their current investors that they are suspending interest payments, they are still seeking new investors for investments but do not inform the new potential investors that they have suspended interest payments.

I am from some of the worst areas in Detroit and have since moved outside of the areas that would be considered “unsafe” but because I am from Detroit I am familiar with areas that are redeveloping and have great growth potential; lots of new construction, townhomes even, and lots of land.

On a recent episode of the podcast, I remember hearing one of the hosts discussing this town as a good place to invest but have not been able to find the show notes. I believe it was either Tony or Henry Washington. A...

Once you do this, excuses start to sound very weak.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

This is how I see it:Single-Family Homes:Pros:Larger pool of potential tenants (families).Simpler management (one tenant, one lease).Often easier to finance.May appreciate faster in some markets.Cons:Only one income stream.Vacancy hits harder financially.Duplexes:Pros:Two potential income streams.Live in one unit and rent the other (house hacking!)

That risk, in retrospect, is not worth the potential return.   

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Quote from @Brian Dolbeare: I’m considering purchasing a small multifamily property in Pittsburgh that I really like, except for one potential drawback: it has 100% street parking.In my current market, lack of off-street parking would be a significant negative, especially during winter.

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.