Detroit the Come Back Kid

[Marisa R.]

Hi All

Just thought I would share one of my recent deals.

Been playing in the Atlanta market since 2011, its been very kind, an amazing ride as the market has continued to soar. In fact very low inventory, surprise surprise...... its been tough of late.

My investment strategy has been buy and hold for cash flow and appreciation and the occasional flip and developing property.

Thanks to property I gave up my day job in 2007 and have just been continuing dabbling in property markets

I am now playing in the Detroit market, some will poo poo this, and I understand why. 

But..... "fortune favours the bold"" as they say

 I believe if you know what you are doing and have the right people on the ground, buy distressed, below market value properties you are on a winner. I know perhaps easier said than done, but I guess its persistence until you get it right.

One of my recent property purchases was in Aviation Sub, nice tree lined street.

This property is approximately 1400 sq foot.

Purchase Price - $36,000

Rehab - $5000  (rent ready)

Rehab (rent ready)  $975 per month

I am currently loading up. will be closing on a foreclosure in the next week or so. Will also post the numbers

Happy investing everyone

[Marisa R.]

Hi Cedrick

I have networked with a savvy investor in Detroit who has been sourcing the deals, well under market value

He has around 40 properties, cash flow is excellent, of course there are challenges

In the main he has been buying/sourcing foreclosures, distressed properties, and many deals that dont hit the market

The competition is fierce and inventory is tightening

I am loading up

I see this as a market with great opportunities, the skys the limit

Marisa