I need more

Member since 2024 · 11 posts · 2 votes

I quit his site because I was not benefiting from the same old advice. I get it, build a team, hire professionals, blah blah. Let's get into more intermediate to advanced topics. Let us discuss how to finance properties if you don't have a W-2 job, what are you all doing in this high-interest rate environment, what are the benefits of single family housing verses multi-family, vs self-storage. And why is there not a separate section on self-storage?

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Kevin Sobilo

Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes

How much did you contribute about those topics? How many specific questions did you ask?

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Kevin Sobilo
Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes
2y
How much did you contribute about those topics? How many specific questions did you ask?
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Melanie P.Pro Member
Rental Property Investor · Member since 2023 · 1k+ posts · 922 votes
2y
@Henry Clark is the self-storage expert. If you have specific questions I'm sure he can help you. Different investments appeal to different investors.
This forum is a lot like life in that what you put into it has great effect on what you get out of it. You aren't going to find discussions about what you say you want to talk about in "General Landlording & Rental Properties," but you can search the forums for what you're looking for or choose a more appropriate topic to start a post with more specificity so the volunteers here can help you.
Your post says you're in Detroit which is one of the best places in the USA to start with little to no resources. There have been many threads about the opportunities Detroit presents. Good luck with your journey.
1 Reply
Melanie P.Pro Member
Rental Property Investor · Member since 2023 · 1k+ posts · 922 votes
2y
@Henry Clark There we go.
1 Reply
Henry ClarkPro Member
Developer · Member since 2020 · 4k+ posts · 4k+ votes
2y
OP.
I don't know who you are talking about. Don't watch podcasts. Haven't read any books. Haven't taken any seminars.
No section for Self Storage. 60% of Value is held by REITS who don't need BP. The other35% are owned by Mom/Pop who are already filled up, no debt, don't ever plan to expand and don't need BP.
Are you in the last 5%? Probably not. Your first post is about Syndications.
Read my posts. Vote on them. Do this for two weekends.
Then if you're in Detroit do a deal analysis on 14201 Joy Road. I like Nasty properties, that is where I can make the most money.  Post your analysis on here. Two years from now you will have over $1mm equity in that location. With a low-risk approach.
Make your post over in the Commercial section. I won't respond here.
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Mark Forest
OP
Member since 2024 · 11 posts · 2 votes
2y
Quote from @Kevin Sobilo:

How much did you contribute about those topics? How many specific questions did you ask?

I was a member for years. How many times can you hear the same old same old? Maybe BP has changed, but I don't see it. Lets get more advanced of those of us who have been at his for years.
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Mark Forest
OP
Member since 2024 · 11 posts · 2 votes
2y
Quote from @Henry Clark:

OP.
60% of Value is held by REITS who don't need BP. The other35% are owned by Mom/Pop who are already filled up, no debt, don't ever plan to expand and don't need BP.
Are you in the last 5%? Probably not.
Where do you get you stats from? that does not correspond to the Self Storage almanac.
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Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
2y
Hi Mark, I invest in Detroit from California. I'm buying another duplex there next month.
If you are in Detroit you have what so many people here would kill for... a cheap market in your backyard that's makes it easy to learn.
Have you gone out and done a deal? If no, what the heck is stopping you?
I did a DSCR loan the other month at 8% and $2,300 in lender fees. You don't need a W2 to get a DSCR loan. My PITI is $1,180/mo and each unit is rented for $1,200 for $2,400 in gross rents. Detroit is full of deals if you get out and go start finding them.
I have lots of pros & cons on SFH vs duplexes, especially in the Detroit market but too much to spew out on the forums here.
I get that BP can be a lot of the same stuff. When you start feeling that way you need to get out of the classroom and go learn in the real world.
You're not getting value here because you're stuck in analysis paralysis and haven't taken action.
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Chris Yager
Member since 2020 · 20 posts · 6 votes
2y
@Travis Biziorek how much did you pay for the duplex example? $1200 per side. Thanks
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Mark Forest
OP
Member since 2024 · 11 posts · 2 votes
2y
Quote from @Travis Biziorek:

Hi Mark, I invest in Detroit from California. I'm buying another duplex there next month.
If you are in Detroit you have what so many people here would kill for... a cheap market in your backyard that's makes it easy to learn.

Hi Travis, the thing is, Detroit population is dropping precipitously and continuously. There may be a lot of properties, but it won't do any good if there is no one here to live in them. I know that many of my fellow investors buy in the actual city of Detroit and their furnaces, water heaters, etc. are stolen from their properties. Are you investing in the suburbs of Detroit or the actual city? If so where?
I have invested in SFH in the suburbs, but not Detroit propper.
,
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Melanie P.Pro Member
Rental Property Investor · Member since 2023 · 1k+ posts · 922 votes
2y
@Mark Forest It's true that Detroit is not great for buy and hold appreciation. When you look at the data and strip out flipping activity the appreciation of improved properties is pretty much zero. If I were in Detroit starting out I would be buying $10,000 homes, fixing them to rental conditions, lease up and sell turnkey to investors on the coasts for $75-100k.
1 Reply
Kevin Sobilo
Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes
2y
Quote from @Mark Forest:

Quote from @Kevin Sobilo:

How much did you contribute about those topics? How many specific questions did you ask?

I was a member for years. How many times can you hear the same old same old? Maybe BP has changed, but I don't see it. Lets get more advanced of those of us who have been at his for years.
There are always new people coming to learn. So, there will always be rehashing of the same material. That's to be expected. Maybe you are unaware, but you don't have to read every post and every response. You can focus in on things that might interest you.

There are also many evolving topics especially those related to laws as they change over time. So, even old topics have new slants over time.

And again, if you have a question, or issue on an "advanced topic", ask it and then you'll see if there are people out there who can engage on the topic here.
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Mark Forest
OP
Member since 2024 · 11 posts · 2 votes
2y
Quote from @Melanie P.:

If I were in Detroit starting out I would be buying $10,000 homes, fixing them to rental conditions, lease up and sell turnkey to investors on the coasts for $75-100k.
Melanie, there is a big difference between the city of Detroit proper and some of the surrounding suburbs. Crime is quite bad in the actual city of Detroit, especially in the neighborhoods. You may fix a house only to have your equipment and any appliances all stolen overnight.
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Mark Cruse
Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
2y
Quote from @Mark Forest:

Quote from @Kevin Sobilo:

How much did you contribute about those topics? How many specific questions did you ask?

I was a member for years. How many times can you hear the same old same old? Maybe BP has changed, but I don't see it. Lets get more advanced of those of us who have been at his for years.

I wish I had a forum like this when I started out. Everything you mentioned Ive seen discussed here. If you dont desire to do the appropriate searches or stick around long enough to receive expert advice you may need to pay a mentor. No one here is going to ho;d your hand, do you research and find the stuff you are looking for to be dropped neatly in one thread.
1 Reply
Mark Forest
OP
Member since 2024 · 11 posts · 2 votes
2y
Mark, I think I made it clear I am looking for the opposite of hand holding. I used to be a very active member, but I got tired of hearing "find your why", "leave it to the pros", "build a team" etc. These are all cliches. I am just looking for more meat.
0 Reply
Mark Cruse
Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
2y
Quote from @Mark Forest:

Mark, I think I made it clear I am looking for the opposite of hand holding. I used to be a very active member, but I got tired of hearing "find your why", "leave it to the pros", "build a team" etc. These are all cliches. I am just looking for more meat.

Not sure what to tell you. When I first joined I was highly impressed with the vast knowledge I received. It was far beyond "build a team'' or ''leave it to pros"".
0 Reply
Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
2y
Quote from @Mark Forest:

Quote from @Travis Biziorek:

Hi Mark, I invest in Detroit from California. I'm buying another duplex there next month.
If you are in Detroit you have what so many people here would kill for... a cheap market in your backyard that's makes it easy to learn.

Hi Travis, the thing is, Detroit population is dropping precipitously and continuously. There may be a lot of properties, but it won't do any good if there is no one here to live in them. I know that many of my fellow investors buy in the actual city of Detroit and their furnaces, water heaters, etc. are stolen from their properties. Are you investing in the suburbs of Detroit or the actual city? If so where?
I have invested in SFH in the suburbs, but not Detroit propper.
,

Hey Mark, you might want to fact check yourself there. The US Census Bureau just announced Detroit first population uptick in 65+ years as of 2023.
It's big news, and I just finished writing a blog post about why it's significant and what it means for investors.
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Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
2y
Quote from @Chris Yager:

@Travis Biziorek how much did you pay for the duplex example? $1200 per side. Thanks
I bought it for $8,000 from the Detroit Land back a few years back.

You can't do that anymore... not in an area as strong as this one. I also did a full gut rehab. I do NOT recommend any of that for newer investors.
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Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
2y
@Mark Forest you appear to be just trying to cause activity.
Are you a 'bot?
You don't even have accurate facts about Detroit!
Logical Property Management4.9446 Reviews
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Brad S.
Investor · Pasadena, CA · Member since 2017 · 612 posts · 523 votes
2y
Since Detroit seems to be a subtopic in this thread, here's an actual historical population chart showing a slight recent pop increase of 0.2% for current 2024. Personally, I am not a Detroit guy, just pointing out actual facts. These days, it is easy to do basic research into many markets.

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Mark Forest
OP
Member since 2024 · 11 posts · 2 votes
2y
Quote from @Michael Smythe:

@Mark Forest you appear to be just trying to cause activity.
Are you a 'bot?
You don't even have accurate facts about Detroit!

I certainly do have accurate information on Detroit as I've lived near it for many years. You can verify for yourself everything I have said. The population of Detroit has been decreasing like someone falling off a cliff for over 20 years. Crime is a major problem. Every real estate investor I know here has horror stories to tell. In one instance an investor has pictures of two men breaking into his house, but because he had the door barricaded they just passed his new furnace out of the window! Go Google it and stop accusing me of things when you are the one being ignorant!
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Chris John
Member since 2020 · 671 posts · 937 votes
2y
LOL. I'm surprised that people are responding to this thread... so you can imagine how I feel having responded to it myself!
:(
1 Reply
Mark Forest
OP
Member since 2024 · 11 posts · 2 votes
2y
Quote from @Travis Biziorek:

Hey Mark, you might want to fact check yourself there. The US Census Bureau just announced Detroit first population uptick in 65+ years as of 2023.
It's big news, and I just finished writing a blog post about why it's significant and what it means for investors.
Sorry, but a mere blip of less than .5% does not get me excited. Now out nearer to you: Idaho Falls is currently growing at a rate of 1.34% annually and its population has increased by 5.58% since the most recent census, which recorded a population of 65,885 in 2020. The average household income in Idaho Falls is $87,582 with a poverty rate of 11.44%. That gets me excited.

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Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
2y
Quote from @Mark Forest:

Quote from @Travis Biziorek:

Hey Mark, you might want to fact check yourself there. The US Census Bureau just announced Detroit first population uptick in 65+ years as of 2023.
It's big news, and I just finished writing a blog post about why it's significant and what it means for investors.
Sorry, but a mere blip of less than .5% does not get me excited. Now out nearer to you: Idaho Falls is currently growing at a rate of 1.34% annually and its population has increased by 5.58% since the most recent census, which recorded a population of 65,885 in 2020. The average household income in Idaho Falls is $87,582 with a poverty rate of 11.44%. That gets me excited.

I think your attitude will echo most folks who are population growth obsessed. And that's great for me and others that have been looking below the surface for years now.
Trust me, once we start seeing multiple years of population growth in Detroit and folks that use that as their base filter... I'll be waiting for the masses to come in so I can sell into them and 1031 into something else.
I wrote a blog post recently about this and mentioned that your view would likely be the base case for awhile.
It's still early innings for Detroit's growth story
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Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
2y
@Mark Forest if you knew your data, then you'd also know that Detroit is using the US Census Bureau over several of its antiquated & mistakenly applied practices that have not properly recognized Detroit's growth over the last 5-6 years.
Not even going to bother copying an article link here for your benefit as your head is buried too deep in the sand for any logical info to reach you.
I'm sure you're successful wherever you're investing.
Logical Property Management4.9446 Reviews
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Don SpaffordPro Member
Investor · Idaho Falls, ID · Member since 2016 · 912 posts · 629 votes
2y
Quote from @Mark Forest:

Quote from @Travis Biziorek:

Hey Mark, you might want to fact check yourself there. The US Census Bureau just announced Detroit first population uptick in 65+ years as of 2023.
It's big news, and I just finished writing a blog post about why it's significant and what it means for investors.
Sorry, but a mere blip of less than .5% does not get me excited. Now out nearer to you: Idaho Falls is currently growing at a rate of 1.34% annually and its population has increased by 5.58% since the most recent census, which recorded a population of 65,885 in 2020. The average household income in Idaho Falls is $87,582 with a poverty rate of 11.44%. That gets me excited.

I live in the Idaho Falls area, my wife is a Realtor here. I see it first hand. This is an excellent market for growth and low crime. We'd be happy to help anyone who is interested in buying in this area. It is also a great location for short term rentals for multiple reasons including closeness to Yellowstone
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