Looking for investor-friendly realtor in Detroit

Member since 2021 · 1 post · 0 votes

Hello!
I’m living in Washington state but would like to invest in rental properties in Detroit. Would like recommendations for investor-friendly realtors. Thank you!

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Drew SygitBusiness Member

Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes

@Catherine Leung

You should be building a team to maximize your probability of success!

While building your team, it's important you understand the motivations of everyone on your team.

Sourcing: whether agent, wholesaler, flipper, etc. many only have a vested interest in a transaction. You want to find ones that are vested in developing a long-term business relationship with you. Otherwise, they will screw you for their own compensation.

Property Management Company (PMC): No one else on your team should be as vested in a long-term relationship with you as a PMC. They will have to manage whatever you buy on a daily basis until you sell the property or terminate them. You need to find a good one though, that is honest & competent. An honest PMC's incompetency will still cost you.

Inspector: You want an unbiased and competent professional that will properly do their job and document it.

Contractor: Finding contractors that don't cut corners and overcharge is EXTREMELY difficult. Even if they are referred, you really don't know until AFTER they've done a job. The other 3 above should be able to provide referrals, but don't blindly trust anyone!

[email protected]248-209-6824

Logical Property Management4.9458 Reviews

Website View Page

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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
4y
@Catherine Leung
You should be building a team to maximize your probability of success!

While building your team, it's important you understand the motivations of everyone on your team.

Sourcing: whether agent, wholesaler, flipper, etc. many only have a vested interest in a transaction. You want to find ones that are vested in developing a long-term business relationship with you. Otherwise, they will screw you for their own compensation.

Property Management Company (PMC): No one else on your team should be as vested in a long-term relationship with you as a PMC. They will have to manage whatever you buy on a daily basis until you sell the property or terminate them. You need to find a good one though, that is honest & competent. An honest PMC's incompetency will still cost you.

Inspector: You want an unbiased and competent professional that will properly do their job and document it.

Contractor: Finding contractors that don't cut corners and overcharge is EXTREMELY difficult. Even if they are referred, you really don't know until AFTER they've done a job. The other 3 above should be able to provide referrals, but don't blindly trust anyone!
[email protected]248-209-6824
Logical Property Management4.9458 Reviews
Website View Page
1 Reply
Adrienne RammohanPro Member
Investor · Washington, DC · Member since 2022 · 122 posts · 147 votes
4y
Hi Catherine! Make sure to check out the BiggerPockets agent finder through our community (matches you with investor-friendly agents in different markets). Gives you an opportunity to see some stats, read reviews, etc. Have fun!!
https://www.biggerpockets.com/...
[email protected]
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Jess Haas
Realtor · Seattle, WA · Member since 2019 · 117 posts · 165 votes
4y
Hi Catherine,
If you have any agents that you know, that is a good place to start. They might know a realtor in Detroit.
Are you looking to invest out of state?
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Gary Carver
Realtor · Detroit, MI · Member since 2018 · 387 posts · 129 votes
4y
@Catherine Leung. Hello. I’m here If you have any questions
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