Be sure to actually contact the landlord for verification—fake references are more common than you’d think.In-Person Meeting: Meeting potential roommates in person is a great way to get a feel for compatibility.

I feel like there's still people trying to make BRRRR deals work close to the city and the truth is it's nearly impossible given prices, rates, and the cost of construction.

Connect with other investors, agents, and property managers to get a feel for the area and learn from their experiences.Are you thinking about house hacking or just straight-up rentals for now?

If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

Feel free to reach out if you have any other questions. 

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

I am self employed but want to build a spec home using the equity in my house as collateral.

Feel free to take or leave my advice, but I think others will agree that, for now, you should focus on maximizing your savings rate, building your credit, paying off any owed debt, and house hack your first deal—just my two cents.

Please feel free to reach out if you have any advice, insights, or opportunities to share!

If you’re able to dive deep or work with someone who has boots-on-the-ground experience, the returns can be very rewarding.Good luck with your journey, and feel free to reach out if you’d like more insights or resources on Detroit!