New Investor in Detroit , ANY TIPS?
Hello I am a new investor In Detroit , I started doing my research on Detroit in March . I attended a couple real estate seminars & started researching the different area's of Detroit. I came across a property in East English Village from the Detroit Land Bank, and I purchased it in June. I had a good Idea on what was needed to renovate the home before i purchased . The home is a 2-unit MFH , my plan is to refinance after repairs . I have two options convert into a SFH or repair as is . The home will be worth more if converted into SFH, which will help in the refinance. any advice on what I should do in this area ?
I also am wondering where can I find good reliable contractors, I have met with a few and it seems to be word of mouth, but any other advice on using contractors and knowing if they are trust worth . I just want to be confident in who i am hiring
Another thing is the refinance any advice on refinancing , what banks should i use? as of now I am planning on using a credit union in my home town to refinance .
this is also my first time dealing with the Detroit land bank , any tips on making sure i finish within the Deadline, and also dealing with the City Permits etc.
I would love to talk to any experienced investors in the City , any group recommendations ?
Thanks for the Time