Detroit, MI · Member since 2014 · 42 posts · 19 votes
Hey,
My name is Darryl and I'm from the west side of Detroit.
New to BP and very excited I found this community.
I worked for HUD for 7 years (mostly in Section 8) and after dealing with thousands of tenants and landlords I've decided to rent out a few properties and looking to network and see how people handle property management on a very part time schedule. I'm actually in the process of making an app that helps people in my situation (a free one for the community because I feel your pain, lol)
I'm actually in the process of researching flipping due to the crazy local real estate market. I feel like I'm missing out on a huge opportunity at the moment. If anyone knows what's going on here would know what I'm talking about!
Anyway looking to learn from everyone and share my experiences!
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
12y
Welcome to BiggerPockets @Darryl D., thanks for introducing yourself to the community. Your experience with HUD gives you an interesting leg-up in the business. It's great to see that you're taking advantage of that. Awesome!
Farmington, MI · Member since 2014 · 11 posts · 3 votes
12y
Welcome, @Darryl D. ! I'm also pretty fresh to real estate and I'm curious as to what neighborhoods you're looking at. Midtown? Downtown? Sherwood? Boston-Edison? I'm pretty keen on the properties foreclosed and for sale in the Boston-Edison district. Those are some pretty amazing homes that, if the area improves at all, will be huge moneymakers. The only question is, is it worth the potential vandalism/crime? I've heard stories on here already of people who tried flipping homes in Detroit and had contractors held up at gunpoint. Not sure the truths in this but it's something I've considered and it's sort of persuading me to stay away.
Detroit, MI · Member since 2014 · 42 posts · 19 votes
12y
Thanks for all the welcomes guys!
@Mehran Kamari Thanks, I was hoping for it to be a small leg up also!
@Cyle Lublin I feel like I missed the boat with most of those areas (including indian village) for super good deals but maybe the new center area is one to be considered, I head that was getting some traction too. Realistically I would like to keep my eye on the areas in midtown and it's outskirts where the Wayne State police will be under its protection. I went to WSU and they pride themselves on their policing which I can agree is pretty decent compared to Detroit Police. I'm not surprised one bit about being held at gunpoint but, being a native to Detroit, I'm pretty aware of the "hot spots" :)
@Nick Keesee Holding would be amazing but, i agree, the price for upkeep along with the price for rehab would be pretty high.
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
12y
Welcome to BP community @Darryl D. It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you: