New Member Introductions

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Real Estate Investor from Detroit!

Posted Aug 4 2022, 08:35

Hello BP Community! I am a real estate investor looking to increase activity in the Metro Detroit Area. I have lived in Ann Arbor, and Detroit and worked in Dearborn as a Professional Engineer. I would love to connect and network with my fellow RE Professionals so that we can hopefully make a difference together :-)

There is so much potential in the Metro Detroit Area and I am excited and looking forward to being a part of the renaissance!  

Let's connect!

Detroit, Michigan

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Nader Hachem
  • Dearborn, MI
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Nader Hachem
  • Dearborn, MI
Replied Aug 4 2022, 09:13

Hey,

Welcome Damiete! I'm down here in Dearborn as well, working as an Engineer! Would love to connect on your experience in RE and plans to move forward. Sent an invitation to connect!

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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
Replied Aug 4 2022, 10:11

@Damiete Horsfall been doing this for 25+ years. 

You should look into local RE investment groups: www.REIAofOaKland.com. www.MREIA.com, etc.

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Shane O'Malley Firek
  • Real Estate Agent
  • Detroit, MI
7
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Shane O'Malley Firek
  • Real Estate Agent
  • Detroit, MI
Replied Aug 4 2022, 14:21

Hey there!

Local Detroit agent here with Berkshire Hathaway: The Loft Warehouse. Sending you a connection invite.


Highly recommend: Metro Detroit Real Estate Investors Group on Facebook, a lot of good stuff going on in there and they have a monthly meet up.

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Replied Aug 4 2022, 14:32
Quote from @Nader Hachem:

Hey,

Welcome Damiete! I'm down here in Dearborn as well, working as an Engineer! Would love to connect on your experience in RE and plans to move forward. Sent an invitation to connect!


 Thank you Nader! We're connected now, let's do this!

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Replied Aug 4 2022, 14:34
Quote from @Shane O'Malley Firek:

Hey there!

Local Detroit agent here with Berkshire Hathaway: The Loft Warehouse. Sending you a connection invite.


Highly recommend: Metro Detroit Real Estate Investors Group on Facebook, a lot of good stuff going on in there and they have a monthly meet up.


 Thanks for the recommendation Shane! Berkshire Hathaway that's awesome! I've sent my request to the group so just awaiting approval now.

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Replied Aug 4 2022, 14:38
Quote from @Drew Sygit:

@Damiete Horsfall been doing this for 25+ years. 

You should look into local RE investment groups: www.REIAofOaKland.com. www.MREIA.com, etc.


 Thanks for the recommendation Drew! As a matter of fact I am looking for reputable Property Managers such as yourself and I would love to connect with you. I actually gave Logical PM a call earlier today. I'll try again to see if I can reach you.

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Julio Gonzalez
  • Specialist
  • West Palm Beach, FL
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Julio Gonzalez
  • Specialist
  • West Palm Beach, FL
Replied Aug 5 2022, 02:27

You found the right place, Damiete! 

Welcome aboard and best of luck investing!

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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
Replied Aug 5 2022, 09:10

@Damiete Horsfall thanks. Be sure to leave a vm!

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Matthew Cervoni
  • Accountant
  • Lexington, KY
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Matthew Cervoni
  • Accountant
  • Lexington, KY
Replied Aug 5 2022, 09:31
Quote from @Damiete Horsfall:

Hello BP Community! I am a real estate investor looking to increase activity in the Metro Detroit Area. I have lived in Ann Arbor, and Detroit and worked in Dearborn as a Professional Engineer. I would love to connect and network with my fellow RE Professionals so that we can hopefully make a difference together :-)

There is so much potential in the Metro Detroit Area and I am excited and looking forward to being a part of the renaissance!  

Let's connect!


 Damiete, 

Welcome to BP! I've found a ton of value from this community and I'm sure you will as well! 

I'm a virtual real estate CPA investing in Nashville, TN and Lexington, KY. I'm so glad to hear about potential in Detroit, it has always been one of my favorite cities since visiting many times while growing up for ice hockey tournaments. 

Best of luck in your investments! 

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Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
386
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402
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Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
Replied Aug 9 2022, 20:33

Welcome! We love it here!

Can point you in the right direction to all the resources you would need to build a team.

My Personal portfolio is here and it cash flows extremely well and is low maint.

Here are some of the types of properties that we find work the best...

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly send data)

Location: C, B- (suburbs and certain markets)

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, mortgage, Amazon fulfillment, and more jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.

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Replied Aug 13 2022, 09:07
Quote from @Joe Hammel:

Welcome! We love it here!

Can point you in the right direction to all the resources you would need to build a team.

My Personal portfolio is here and it cash flows extremely well and is low maint.

Here are some of the types of properties that we find work the best...

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly send data)

Location: C, B- (suburbs and certain markets)

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, mortgage, Amazon fulfillment, and more jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.


 Hi Joe! Thanks for this very informative post! These are very attractive numbers, and from the conversations I've been having, it makes sense. I'd be interested to know how sales are going in this market especially for C properties that are rehabbed into B+ properties. Let's talk more soon!

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Rassan Sampson
  • Westminster, CA
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Rassan Sampson
  • Westminster, CA
Replied Aug 15 2022, 23:05

Welcome @Damiete Horsfall! I'm out an OOS investor but travel to Detroit relatively frequently for work (automotive engineer). Very limited experience here but looking to connect and grow with others, connection request sent!

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Aj Parikh
  • Rental Property Investor
  • Centreville, VA
695
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Aj Parikh
  • Rental Property Investor
  • Centreville, VA
Replied Aug 17 2022, 08:05

That is great to hear @Damiete Horsfall. Good luck and let me know if you want to connect about Cleveland market as well since they have similar house prices and tenant demand.

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James Wise
  • Real Estate Broker
  • Cleveland, OH
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James Wise
  • Real Estate Broker
  • Cleveland, OH
Replied Aug 18 2022, 06:46
Quote from @Damiete Horsfall:

Hello BP Community! I am a real estate investor looking to increase activity in the Metro Detroit Area. I have lived in Ann Arbor, and Detroit and worked in Dearborn as a Professional Engineer. I would love to connect and network with my fellow RE Professionals so that we can hopefully make a difference together :-)

There is so much potential in the Metro Detroit Area and I am excited and looking forward to being a part of the renaissance!  

Let's connect!


 Welcome aboard.

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Replied Aug 18 2022, 06:52

@Joe Hammel hey Joe, I was thinking about expanding to Detroit. Care to connect?

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Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
386
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402
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Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
Replied Aug 18 2022, 10:44
Quote from @Joe Jung:

@Joe Hammel hey Joe, I was thinking about expanding to Detroit. Care to connect?


 For sure, happy to discuss!

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Gary Carver
  • Realtor
  • Detroit, MI
128
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378
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Gary Carver
  • Realtor
  • Detroit, MI
Replied Aug 25 2022, 05:00

@Damiete Horsfall. Hello how are you doing.. I am a realtor and I have been investing in the city myself for over 20 years ..let’s connect

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