I’m a newbie investor {one property} so far in Detroit.

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

Off market How did you finance this deal?

I would interview 3 contractors off of google with good reviews and go from there 

out our way these letters are usually far more than letters they can be a bound booklet.. with pictures of the family  the family dog  the family parrott  pics of their kids at the beach etc etc.. long flowing letters. 

As far as targetting 2-4 units you can get a better deal in an area that is being gentrified.

Yesenia,Feels like a straightforward DSCR loan, base it mostly off of the cash flow of the property itself inside an entity and maybe take a bit of a leverage cut as a foreign investor, but very doable.Do you have an LLC already established? 

We expect to have holding costs of $15k to get through the off season and the condo is pretty updated so we would only be spending $10k in renovations (updating the bathroom and then finishes in the remaining rooms).

The outcome couldn't have been any better so far.

However, i do not know what a common cap rate or cash-on-cash return is for off market deals.