Investor · Royal Oak, MI · Member since 2015 · 63 posts · 20 votes
Greetings everyone! My name is Steve Lovett, and I'm a landlord in Metro-Detroit. I have 8 rentals and have rehab and management experience. I learned about BP initially when listening to Brandon's book on Audible. Then I discovered the podcasts on Stitcher. What an amazing wealth of information! So I HAD to join BP and look forward to interacting with everyone. I invest in a unique area with some amazing returns, and am looking to add some flips to my real estate portfolio this year. I look forward to interacting with the community on this site.
Investor · Royal Oak, MI · Member since 2015 · 63 posts · 20 votes
11y
Thanks Matt. I'm looking forward to it. Do you know if the Detroit folks do monthly meet-ups? I ran across one from a couple years ago in a search, but haven't been able to find if they're still happening.
Investor · Royal Oak, MI · Member since 2015 · 63 posts · 20 votes
11y
Thanks Scott. I'm familiar with Michigan Real Estate Investors from Meet up. I'm a member of the Oakland County REIA currently, and have yet to attend a Michigan meeting. You're in Madison Heights? I have several rentals there. I love that city!
Greetings everyone! My name is Steve Lovett, and I'm a landlord in Metro-Detroit. I have 8 rentals and have rehab and management experience. I learned about BP initially when listening to Brandon's book on Audible. Then I discovered the podcasts on Stitcher. What an amazing wealth of information! So I HAD to join BP and look forward to interacting with everyone. I invest in a unique area with some amazing returns, and am looking to add some flips to my real estate portfolio this year. I look forward to interacting with the community on this site.
Detroit Why would anyone invest in Metro-Detroit!
Is it because of what you refer to as "amazing returns"
Tagged people when you comment so they get notifications. If you type the @ symbol then begin to spell their name without using a space, it should populate under the comment box. Click on their name and continue typing your message. They will get a notification just like you have now...
Yes. My returns are incredibly good. Better than anything I've heard from other investors. They might even make your head spin.
Careful now this board likes to call Detroit people liars.
They are fretting over their inability to find properties within their 2% rule and don't think it even remotely possible to consider turning down properties that rent for 20% of the all inclusive price.
My deals also make my head spin so I know you are telling the truth.
Can you beat my ALL IN $806 purchase rented for $650 per month?
Yes. My returns are incredibly good. Better than anything I've heard from other investors. They might even make your head spin.
Careful now this board likes to call Detroit people liars.
They are fretting over their inability to find properties within their 2% rule and don't think it even remotely possible to consider turning down properties that rent for 20% of the all inclusive price.
My deals also make my head spin so I know you are telling the truth.
Can you beat my ALL IN $806 purchase rented for $650 per month?
Yes. My returns are incredibly good. Better than anything I've heard from other investors. They might even make your head spin.
Careful now this board likes to call Detroit people liars.
They are fretting over their inability to find properties within their 2% rule and don't think it even remotely possible to consider turning down properties that rent for 20% of the all inclusive price.
My deals also make my head spin so I know you are telling the truth.
Can you beat my ALL IN $806 purchase rented for $650 per month?
Wow Richard!!! That deal is truly amazing. I'd like to hear more abut that! There is so much opportunity here that I can't imagine doing this in any other area. It's nice to have The option to own outright for what most people use just for downpayments.
Investor · Royal Oak, MI · Member since 2015 · 63 posts · 20 votes
11y
@Scott K. - Yeah the Royal Oak prices are going up at an amazing rate. I won't add any Royal Oak unless I get a good wholesale deal, which are hard to find. I would flip here though. For rentals, I'm focusing now on other areas like Madison Heights and Detroit. I've started looking at Warren too.
Investor · Royal Oak, MI · Member since 2015 · 63 posts · 20 votes
11y
@Account Closed
I'm not really following your train of thought. We're all capitalists as investors. There's nothing wrong with that. In terms of discussing deals, that's one of the purposes of BP. It's encouraged. In terms of disappearing, I don't really understand what you're referring to. Logic would predict that investors who do their due diligence to find deals that they know are good will be around and in the game for a long time. Keep in mind that real estate is all local. Some areas have advantages and disadvantages that others don't. I live in a very uncommon market where deals are just different than most places.
My train of thought is quite simple: the more one publicizes their successes, like-minded people will follow. It's the old "fisherman not revealing his secret fishing spots" analogy.
After enough time has passed, the deals that are plentiful can/will become infrequent.
And yes, free flowing information on BP is encouraged, but that doesn't mean you have to give up your secret fishing spots. So you have now alerted thousands, perhaps more, of like-minded, ROI hungry investors to cast their lines in your favorite spots. Home appreciation in Royal Oak is a good example of this.