Investor · Royal Oak, MI · Member since 2014 · 26 posts · 0 votes
Hello BiggerPockets community! I started listening to these podcasts about 16 months ago. Read the book and decided to get started. Established a partnership and we are closing on our 4th property, cash deal next week. We are looking to get into small apartment buildings next and of course are always looking to buy more SFMs. If you have anything for sale and want cash deals, please reach out! Also looking for some mentorship in MFHs before we take the full dive. We primarily buy near Royal Oak, Madison Heights, Hazel Park, Ferndale and Redford. Best to you all, and please feel free to reach out!
Flipper/Rehabber · Chesterfield, MI · Member since 2016 · 94 posts · 35 votes
10y
Thank you for reaching out! I do wholesale to cash buyers. I will add you to my list and let you know as soon as I have located a property in your area. I will be in contact soon!
Wholesaler · Utica, MI · Member since 2013 · 133 posts · 36 votes
10y
Hi @Matthew McCall-Stillman There are some great meet ups in Metro Detroit. Metro Detroit Real Estate Investors Group just met in Troy last night. Renegade Detroit Investors usually meets the first Tuesday of the month. MREI is meeting this Thursday. Feel free to reach out if there's anything else I can do to help.
Investor · Royal Oak, MI · Member since 2014 · 26 posts · 0 votes
10y
Thank all for reaching out. I am interested in meeting up for these events and building my portfolio further. I am open to a small set of areas in Detroit, mostly suburbs however.
Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
10y
Hi Mathew, welcome!
I currently invest in the city of Detroit, and other parts of SE Michigan. Currently I have only multi unit commercial properties, and would be more than happy to share my experiences on them. I am also in the market for smaller apartment complexes in SE Michigan.
Investor · Royal Oak, MI · Member since 2014 · 26 posts · 0 votes
10y
Thank you Ujwal! I am all ears for input, and potential deals. How has the inner city treated you? I've had friends with horrible stories. I like to buy just outside of the city.
Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
10y
The only thing that attracted me initially to the city were the crazy high CAP rates when I first started 2 years ago. At first I was looking for a small condo in West Bloomfield/Bloomfield Hills/Birmingham, so the financials on the properties were a complete night and day contrast, which led me to invest in Detroit.
I have been fortunate to have good tenants, and good people in the community to show me the ropes. However I have also had some struggles that come with the city as far as a lack of good contractors willing to venture out there, finding good qualified tenants, dealing with the City/County offices, etc.
I manage all my own units now just so I can learn and train to become a more knowledgeable investor & landlord, but will give my future properties to a management company. It can definitely be a financially rewarding area to invest if you have a good understanding of Detroit.
Investor · Royal Oak, MI · Member since 2014 · 26 posts · 0 votes
10y
Well done. Nothing teaches better than real experience! Maybe I'll try out a couple after all. I will likely need to give the rest to a mgmt company as well.