While we don't get significantly higher rents, we have extremely low turnover rates.

Not only will you learn different neighborhoods, how to manage people, and costs of construction, but they can get paid extremely well if you get good and know how to work with the City.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Hey BP Community,I’m working on a unique deal and could really use some guidance to bring it across the finish line.A broker that I have worked with in the past came to me with an opportunity that I am extremely interested in. 

In some cases, if the ARV is outlandish or the change in value is rapid and extreme (ex: purchasing for $100k last month, appraising for $500k thirty days later), it may need to be supported by a CDA or evidence of repairs/upgrades. 

That's extremely helpful. 

You seem extremely confident in your initial claims, take me up on it.Either way, I do appreciate the honest feed back on my posts from both of you, I understand that NY is one of the hardest markets to succeed in, but I am a firm believer in the Stockdale Paradox (Jim Collins, Good to Great).Best,-JonThis wasn't a back and forth.

I think this is extreme price gouging, especially since we did not agree to pay that kind of money and if he was expecting that kind of money, he should not have awaited to the very end to tell us.  

The borrowers pay significantly less for those appraisals; they usually lack vital information, tend to be performed to much more “lax” standards, and often lack good decision making as to comps, capitalization rates, and adjustments of value between the subject property and the comps.  

That's an extremely rare opportunity though.