All Forum Posts by: Anthony Smith

1.5 times the rent if it is a condo in detroit 900 is a little high unless you are in a certain area the rental pool is slowing down as always this time of year you will start to have less qualified renters and less people keeping their showing appointments we have about 300 properties in Detroit and a condo would go for 700 to 850 depending on bedroom count most candidates are section 8 so if you are priced too high for the bedroom count your missing out on about 60%. SECTION 8  only gives a set amount for rent and utilities based on bedrooms.

Of course if you are not in actual Detroit and your are just speaking about the metro area then disregard 100% of what I just said lol

been in the pipeline for a while They gave everyone two years to have all rentals rental certified in detroit that was some months ago 

an no it's not normal to answer your question he's either operating as an agent illegally or not an agent at all. As an agent working with buyers the seller of the property pays you not your client.

you need an agent that what's a relationship with you more than he wants your money 

There are people who like texas hold'em and 21 and those who like roulette and dice all of those games have risk and reward roulette and dice have far more than Poker however rewards for dice and roulette come quicker and larger in a shorter amount of time. Detroit is roulette and Dice, there are some strategy to both but risk and chance are higher. In short roulette, Dice and Detroit are not for beginner investors. Rookies always start out their investment strategy based on where can I put my money and have no risk (and minimizing your risk in an investment is always good). Detroit can get you returns in the 20s but with very high risk. Other suburbs (Roseville, Warren and Eastpointe), you can still get 12 to 15 but more likely to get 7 to 10%. Most people have a bad taste about Detroit because investing in it will tell you how savvy of an investor you are and when people find that out that they are not as sharp as an investor as they thought they were so they say it's Detroit's fault but numbers are numbers (meaning do your investment math and research). There are a lot of people with a lot of money investing in Detroit and making a ton of money doing so. You can't spell Detroit without ROI

If you are interested in the Detroit market and would like a quick education on investing in it. Feel free to contact me. My group is one of the top 1% in the state and we handle investors with one home to large portfolios local and overseas. Other members are right it is a high risk market not for the beginning investor and you do need someone from here. I am an agent as well as my group owns several cash flowing Detroit properties. Just remember you can't spell detROIt with out ROI

@Brian Davis I am a realtor and my broker is also a HUD broker. If your interested in having a chat with him he may be able to answer your questions however Jeff Copeland is correct he wont give you his log in. However he has many investors he deals with. Send me a message if you are interested.

@Mindy Jensen Excellent I will take a look and give you my feed back. Thank you sooooo much

@Elijah Raney welcome to BP!!!! anyone who likes Michigan winters is crazy enough to pull off being a real estate investor lol Good luck you will be great. Only advise i have is read everything on bigger pockets if its not on this website it dosen't exists truly the holy grail for REI

@Dhar Rawal you are the man!!!! Thanks for the story very inspiring and motivating.