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8 February 2025 | 42 replies
Here are a few stats which should raise an eyebrow about Detroit $1 billion invested in more than 4,600 units of affordable housing over the past five years Job growth with more than 25,000 more Detroiters employed since 2014 A return to investment grade bond status for the first time since 2009Reductions in crime beating national trends, including the fewest homicides in 57 years Successfully hosting the largest ever NFL Draft at 775,000 people over three days In terms of starting out in Real Estate it also makes sense to invest in Detroit considering that the entry costs are low and if you plan to buy and hold, Section 8 makes for a great partner to insure steady rent payments.
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13 January 2025 | 5 replies
Quote from @Brad Roche: The other thing that is great for the FHA 203K loan (not sure about the Homestyle loan) is that you can kick the payments out to 6 months of ownership (so close today and make your first payment July 12th 2025) if you are fixing up the home.
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20 January 2025 | 12 replies
I have a W-2 Job, capital saved up for a down payment (or two), and a buy box based on my affordability.
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13 January 2025 | 2 replies
In this case, your monthly payment with 20% down will have a good MARKET rate if your DTI works with a much lower month payment and no mortgage insurance(MI).
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17 January 2025 | 5 replies
NONE of the money raised from the auction of a 2nd goes toward the payment of the 1st (that is why they call it "subject to the first")4.
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20 January 2025 | 8 replies
Unlike the Bay Area, at least from my experience in Sacramento, i don't think the difference in down-payment from a duplex and tri-plex is that significant.
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23 January 2025 | 56 replies
There is no requirement to use them as mentors for doing the rehab projects as described in the horror story above, but they do their own underwriting so they will be investing themselves to assure the deal makes sense and is successful to assure they get their payments and interest.
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29 January 2025 | 19 replies
Explain your situation and see if there are payment plans or hardship programs available.The BiggerPockets forums have threads on tax liens and foreclosure prevention: https://www.biggerpockets.com/forums/41/topics/766025-surplus-funds-unpaid-taxes-in-foreclosure-saleAn experienced real estate attorney can advise you on your legal rights and explore potential solutions.Have you spoken with your local tax authority yet?
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16 January 2025 | 11 replies
The total cost for this monthly for me is $1.00 fee for online payment for Sevier County, TN and the .73 cent stamp for Blount County, TN.
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17 January 2025 | 9 replies
We saw huge appreciation in the 2018-2022 inflation run up, but that has significantly slowed these days in my opinion.From a rental perspective your monthly income per unit after all expenses with a typical 20% down payment is likely $100-300 when you find a property that will cash flow.