Royal Oak, MI · Member since 2015 · 4 posts · 1 vote
Hey all,
My name is Judy and my husband and I recently relocated from Chicago to Metro Detroit (Ferndale, MI). I am originally from the Ferndale / Troy, MI areas. I graduated from Michigan State University back in 2005 (go green) in supply chain mgmt and have been working in that area more or less until now with the recent move back home.
I found bigger pockets a few months ago through the podcast. Thank you Josh and Brandon for cracking me up during angry Chicago rush hour traffic. You kept my blood pressure within normal range.
My mother has SFH rentals in the Hazel Park area (< 10). She's asked for my help with tracking / managing them on the side, which I'm happy to learn to do. She's the type of person that keeps everything in her head while I sadly, like spreadsheets. So I am looking forward to learning what works bests for you all.
Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
11y
@judy
@Judy T.welcome to BP and sounds like you've got a great opportunity to receive some hands-on experience with property mgmt. Congrats on the win vs Oregon too!
Are you and your husband going to be investing as well and/or do you see doing property mgmt more by growing it into a larger focus?
My name is Judy and my husband and I recently relocated from Chicago to Metro Detroit (Ferndale, MI). I am originally from the Ferndale / Troy, MI areas. I graduated from Michigan State University back in 2005 (go green) in supply chain mgmt and have been working in that area more or less until now with the recent move back home.
I found bigger pockets a few months ago through the podcast. Thank you Josh and Brandon for cracking me up during angry Chicago rush hour traffic. You kept my blood pressure within normal range.
My mother has SFH rentals in the Hazel Park area (< 10). She's asked for my help with tracking / managing them on the side, which I'm happy to learn to do. She's the type of person that keeps everything in her head while I sadly, like spreadsheets. So I am looking forward to learning what works bests for you all.
Excited to be here! Thanks for reading this.
Judy
Awesome. Welcome Judy.
There is a great group on here. I you have any questions definitely post.
We have rentals in the Redford area and are looking to move into some of the other local markets. How are things in Hazel Park?
I've done the opposite of you- that is gone from Ferndale back to Chicago. You've found a wonderful site and wil be able to use it to help sure up the family rentals I am going to guess might exist since they're all being managed in someone's head.
If you have any questions, definitely reach out. Also check out the Webinars!
Real Estate Broker · Troy, MI · Member since 2012 · 42 posts · 12 votes
11y
Hello Judy,
That's a great area. I have rentals in Royal Oak and Ferndale, and I'm starting to look more at Hazel Park. It's definitely got opportunity as Ferndale's rental rates climb, people are spreading further out from the Woodward corridor. I see good potential in that area.
Royal Oak, MI · Member since 2015 · 4 posts · 1 vote
11y
@Joe Fairless Thanks for the welcome! That game was great but stressful. Yes, we are going to try to invest. I'm not sure about the PM side of it...honestly don't know what to think of it. What do you do in OH?
@Joshua Woolls How is the Redford area? I actually like the Hazel Park area for investing. Some may say otherwise as it's not as nice as neighboring cities. It's next to Ferndale which has a great downtown.
@Eric L. Love Chicago. Which neighborhood are you in? Are you investing in Chicago? My vote for best pizza (non deep dish) is Spacca Napoli if you haven't gone yet.
@Tommy Desmond Agree with you on HP potential and hope for the same. How are the rentals in RO and Ferndale? What have been your main issues? Nice to meet you as well.
Investor · Grosse Pointe Park, MI · Member since 2015 · 164 posts · 64 votes
11y
How is the Redford area? I actually like the Hazel Park area for investing. Some may say otherwise as it's not as nice as neighboring cities. It's next to Ferndale which has a great downtown.
I love Redford. We have been looking to start diversifying in the area though. I don;t like having all my eggs in one basket. We have been primarily looking at Dearborn Heights, Westland and some of the downriver areas. I don't know the Northern and Easter burbs as well. I want to learn though.
Real Estate Broker · Troy, MI · Member since 2012 · 42 posts · 12 votes
11y
I have had no real issues with my rentals over that way. For that market, I rehab the properties to a higher modern granite standard. Because the area can demand higher rents for nicer properties, we get very solid tenants. A lot of engineers, executives, and medical staff from the nearby hospital. Catering to the higher end clientele there has reduced our issues (such as late rents and vacancy) compared to rentals we have in less affluent markets. The appreciation is nice too.
Welcome to Bigger Pockets. BP is full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members. This is one of my favorite features of Bigger Pockets especially for asking specific questions.
Investor · Chicago, IL · Member since 2015 · 166 posts · 67 votes
11y
Uptown! Argyle & Marine to be more exact. And our favorite pizza is Michael's on Broadway between Irving & Buena.
I am looking at multi-families on the north side right now. Nothing yet, but soon. You are thinking about the right areas. Just a matter of honing in. 3 multi's came on the market last week in Ferndale that are all priced very high (which is great for me as an owner). They are are not charging enough rent, either. For whatever reason, landlords seem to think the Ferndale market is not tolerant of higher rents when, in fact, it is very tolerant.