Most OOS investors fail to realize that Detroit was geographically built for 2 million people, but currently has less than half that population.Some areas of the city, maybe 1/3, are coming back strong, another 1/3 is so-so and the last 1/3 is no mans land.How long you have sit on a piece of land before you can profit on it, depends on where you buy.

Also with this scenario you can potentially attract a better quality tenant because you are giving them more of what they want.

So let's say you had 1.6 million in your brokerage account, you could get a loan of 800k from your brokerage account at 5%; he's saying a 'bridge loan'- Then the seller has accepted this 'all cash' offer.

You need to build up your knowledge base and experience before even considering building a team because if you try to attract agents, contractors, etc. before you know much, they won't want to work with you.

now I can not transfer it to personal name because of tax consequences.DO NOT PUT IT UNDER LLC, leave it on your personal name and buy 2-5 million umbrella (depending on how much asset your have)  insurance in additional to your property insurance.

Yes, the fixed, low rate for 30 years (as opposed to the variable HELOC rate) is part of what makes the refinance an attractive option (in addition to the cash out).

Many of you probably have heard about Beeple selling a piece of digital artwork for $69 million recently.

We did not have the Internet and the 5 and 10 years to a Million in Real Estate books and courses.

My Dentist spent 1.5 million pimping out his offices and is now freaking out..  

When I lived in Southern California I worked at a firm that designed ultra modern homes in Hollywood, Beverly Hills, Malibu and so on for a homes that sold between the low price of $10 to $50 million dollars.