Hello My name is SayQuan and I am in the home stretch of closing on my first property. (4 plex).

That's why I choose to stretch my investment dollars in areas like Detroit which is a hot market for investors now.

They're playing in the mid 200 to mid 300's, so the cap rates aren't awesome by any stretch.

But who knows, maybe it can be cleaned and stretched!

Hard Money will stretch your liquid funds further and allow you to buy more homes at a time.

As a stretch goal, we'd like to try to get one more multi-family this year using creative financing.

Having never been in this situation before (and willing to work with them but also knowing that it could be hard to find other tenants in January if this stretches out 6 months or more), below is the letter we are thinking about sending.

The biggest problem that I run into is they will stretch out the time they lived somewhere to hide an address that they were evicted from.

Just based on what you said I would sell now and cash the equity out at the peak of the market.Then take the cash and invest elsewhere where you can stretch that currency to get the most bang for the buck.This would be better than treading water.You might have NOI now but if the market collapses and other owners are having a hard time meeting debt service rents will fall fast and there goes most of your NOI.Some people say people get LUCKY when they sell.For astute investors it is not about being lucky but analyzing the market for cycles.EVERYTHING CYCLES.The only question is how long each cycle will last before changing.For that you look at a bunch of metrics to make the best educated guess.

Im mostly just interested in building equity from mortgage pay down over the long term.I already have a team in place that does the accounting and repairs on my current houses, so I am prepared to manage more, and I think it's in my best interest to stretch my existing staff more.If some houses dont break even, I have cash reserves to cover it.Since I rent the rooms out individually, not the whole house, its more management work, but less risk.