Ive had it for almost 2 yrs and its been a great investment.

@Jonathan Miller hello, I am from detroit originally and its just like any big city .. there are decent areas and bad areas and areas that I would not go to after dark .. and I worked all over Detroit back some 25 yrs ago ..

@Jason D.Licensed appraiser over 27 yrs here:1.

I have been investing for almost three yrs and mainly fix and flip with two rentals now.

Just wanted to share that we are closing this Friday on our 2nd investment property. First building has given us a 45% profit increase, after doing a lil bit of renovations and the second building since it's new const...

My background is mainly in the healthcare industry (10+ yrs) and helping others in any fashion that I can.

The last downturn lasted about 2 yrs and came back strong.

., not from seller)1st loan - recorded date: May 2005, loan amount $650k, 30 yrs adjustable rate;max. rate 12.6%, current rate – unknown, adjust every 6 months.2nd loan - recorded date: March 2006, loan amount $77k, 20 yr loan, assume HELOCAccording to the seller: total mortgage payment $2200, insurance $100, property tax $700(However, I did the calculation, the payment on the 1st loan should be at least $3500, assume at 5%, seller will provide more information on the loans later on; my take is if it is adjustable rate loan, forget it; she told me that it is a fixed rate loan though; for this discussion, assume the total PITI is $3000)According to the seller, the total mortgage owed is $680k.Today’s market price is around $620k, during the last peak, it was around $720.When it peak this time, I expect it to be higher than $720k (based on the information from the nearby market, some area has already gone higher than the last peak)Seller is willing to sell it subject to.The roof needs to be replaced and probably some sewer problem which costs $7k to fix at most.So the out of pocket $ to buy is < $20k for now and it won’t case flow for the first few years, assume rent go up after that, it will.My plan is to find a money partner to put up the money to fix the roof and the sewer problem and hold on to it for at least 10 years and wait for the equity to build up, should have at least $300k equity or more in 10 years and sell at that time.

Honestly my goal at first is to own at least 2 rental properties preferably town homes it might one day be a good backup when the kids grow in next 20 yrs or so.

I have been investing in buy and hold SF rentals in the DFW market for 5 yrs now.