Be skeptical of the developer's claims, as your property's value likely won't see substantial growth until the entire development is completed and sold, which could take several years.

Feel free to message me if you have any specific questions as well.

@Muriel Hair here's some articles about Detroit increasing over 20% in 2024...https://detroitmi.gov/news/detroit-home-values-increased-ave...https://www.cbsnews.com/detroit/news/detroit-home-prices-amo...https://www.detroitnews.com/story/news/local/detroit-city/20...

. - Private lenders are not just sources of capital but can also be strategic partners who bring value to the table. 3.

How does everyone feel about investing in Oklahoma?

I do see many investors incorporating a similar strategy with new construction builds, heavy rehabs, or in instances where the property was bought far below market value (usually a wholesale type transaction).

Zip Code: 0883            i feel it appreciated very well and i don't think it will go any more in next few yearsNeed Advice  -  rent this property  or sell it ?            

How did you add value to the deal?

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

How did you add value to the deal?