All Forum Posts by: Alyssa Melotik

What is your goal with the property? That could be a good area depending on the exact location. Things really go street by street here.

I’d love to hear a response to this if anyone has advise. I’m looking to comp rentals and find it difficult outside of midtown/corktown/downtown to accurately figure the correct price someone would pay for a unit.

Welcome Robert! I’m in the same boat - in the midst of searching for my first multifamily in the metro area to househack. Everyone here’s super supportive. If you have any questions feel free to reach out.

Hey Duncan, I live in Detroit and am in the midst of searching for my first multifamily here. You definitely wanna get a feel for the areas by visiting or through someone else because it can vary street by street.

Corktown/midtown are highly invested in so I’d stay out of there but some other places I recommend on the east side are islandview, in and around Indian village, morningside/east English village area. Other areas like new center, Virginia park, and la salle gardens are good locations as well (I’ve seen investment in area around the Henry Ford hospital shaping up.)

Hope that helps and good luck!

@Brian Lieberman Great advise, I actually just printed some worksheets off to get started. It’s hard to grasp the big picture view at the moment and piece all the analyses together - sure it’ll get better with repetition

@Sean Sloop thanks for reaching out I’m sure I’ll have questions soon enough. I was looking in GR before I decided to stay more local for work purposes - seems like a great spot for both long term and short term rentals

@Joshua Noth I’ll keep you in mind down the road if my vacation bug needs a more permanent fix - gotta set up home base here for now. Thanks and good luck on your ventures too!

Nice to meet you! My name's Alyssa Melotik and I'm a designer at Ford who's been renting in Detroit for a couple years. As the story goes - someone got me hooked on the podcast, I realized renting = throwing money away, I read rich dad poor dad, and now here I am eager to find my first deal and being the journey of acquiring assets to attain financial freedom.

I'm setting out to buy my first multifamily to live in while renting/househacking (eyes are open for a quadplex). I've found an agent I like and am applying for pre approval on a loan. Would love to hear from you if you have any advise or just want to say hello - especially if you're in the Detroit area.

Looking forward to this invasive yet rewarding rollercoaster of learning.