They are the absolute worst!!!

However I just realized there was a mistake in one of the tenants' lease! 

One of the worst mistakes you can make is hire an agent to do PM.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

This was my first property, and while it's been a great learning experience, I made several mistakes along the way—ranging from choosing a realtor who was more focused on closing the deal than finding the right house to having a poor inspection and overlooking issues hidden beneath the surface (literally).

And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes.

.: What does the surge in 2024 of newbies (inexperienced & making mistakes) doing creative financing purchases, mean for 2025?

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $199,900

Sale price: $212,000

Fourplex north of Austin. It turned out to be a bit too far.

What ma...

Your team can provide valuable insight and help you avoid costly mistakes down the line.5.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?