All Forum Posts by: Keyonte Summers

Not , at that price point anymore. You are looking to purchase in D class areas at that price and you would need to flip the entire block or two for the numbers to make sense

 I've financed as low as 34.9k you can always find a lender. It might take some leg work but the important thing is the area, budget, and getting that rehab done correctly. It might not be worth it if you cant pull your money out of it. If you have the cash to let it sit there while you collect the cash-flow maybe but I dont know what you end-goal is.

Big brother property management , I can’t stress more than to vet any groups you consider. Your PM could easily take advantage of you and you tenants . I’ve helped countless OOS investors that had this issue with their PM in one way or another. Check reviews meet them in person a phone or email isn’t enough these days. Reach out to current/past clients all the flags will point themselves out .

I self manage and have minimum issues with tenants. Most of my headaches come from acquisitions with tenant occupied properties until they get with the program. @Drew Sygit has a great group that I always recommend but I have a few others. 

@Arsen Atanasovski

Yes it's several banks that lend to Detroit properties for values under 100k I have bought homes 45k ,30k with loans from my lender. Those values have tripled since I've purchased them. No HML will touch them but if you need contacts I might have a few.

@Eric Inigo  A word of advice from a Michigan investor. Meet these people in person before you hire them, I wouldn't even let these contractors know you are from OOS, it screams take advantage of me in the Michigan real estate world. I have helped countless investors from BP who approached investing in Michigan the same and all has had a bad experience. My best advice is to join the FB group for Metro Detroit Real Estate Investing and you will be able to vet a ton of contractors that way.  I would recommend my company but we are backed up especially with the recent floods. PM me if you need any assistance with navigating in the Michigan market it can be great from those who approach it correctly or turn you off from you investing career. 

Are you paying straight cash or open to financing also? Those numbers are definitely achievable . If you had a rehab # you wanted to stay under what would it be ?  Send me a pm and I could send a few zips codes and neighborhood you might be able to target. 

It's so many you can go off but I'm a local investor in Michigan/Detroit. What type of returns and your level of comfort will tell you what neighborhood or community you want to invest in. 

Bob, if you let me know the details of the properties and any pictures, I'll gladly purchase the property. I have several rentals in harperwoods and I can arrange a showing. Lets talk further I'd like to take this off of your hands.