I personally went to detroit to look at properties, youd be amazed how nice some of the forclosures are, but almost EVERY house youd buy needs paint, carpet. paint and carpet on a 1000sq house cost several thousand, plus maybe someone from detroit can shed some light here, the city is VERY involved in rentals in the city of detroit, which is why my locals invest in the suburbs and close cities from what i understand, where there are not $100 houses, not even $1000 houses, maybe $10k houses.

I'm about to purchase a residential property with a private seller & no agent involved.

There is a lotta waiting involved.

A 25k loan @7% -Montly payments will be bet 450-550.Do you think this is good way to get some money to get involve in buying and flipping properties with other investors?

If you were looking to purchase a buy-and-hold rental in this manner, what sort of terms would you look for that would be fair to both parties involved?

If you make 100 an hour it doesn't make sense to do 15hr work yourself.Managing a property yourself will take away rest time from your other job and will start wearing on you.Maybe you do a hybrid of collecting the rents and the paying a consultant for the other tasks you need done.There are many solutions from your current situation.You could always renegotiate a new contract with your current company.You have to define if the issue is price or something else.

A GC is going to put a premium on everything so expect to pay more for work they are involved in.

Because it is the government, there is an extra dimension involved - fraud and criminal charges.The consideration the seller gives is a reduced price and/or interest rate.

Investing in real estate involves risk, lots of it.

Hi guys,What are the risks involved in offering Lease/Option or SF to someone with Homestead Exception in their property?