All Forum Posts by: Arsen Atanasovski

I was once told by a wise old man, before I was a landlord, he said son you not in the business to break records on rental rates but in the business to have the rent collected. If lowering the rent to a normal rate and having someone there stay for a few years is better then having it top rental rate place and having a tenant stay there for a year. 2 things happen when that happens the tenant starts shopping for something a little less and when they are paying top dollar they expect top service so just keep that in mind. I’ve done both and I would rather just have the place rented at a reasonable rate and have an understanding with the tenant that you could get more but are willing to work with them in return they would appreciate that and also stay longer due to the fact they don’t feel their being ripped off. 

Tell the seller to remove the tenant and give you a discount see what they say lol. They are trying to sell you a contract that works very well in commercial real estate but in residential there is a lot of ifs and tenants are different then commercial tenants where the commercial tenants is producing an income. For example if I have an empty building on 10 mile it’s worth $250k example…. Now I have a building on 10 mile and my tenant is Starbucks with a 20 year lease term the price is 4,5,6x more. But for residential you can find your own tenants we are in a housing shortage so don’t worry finding a tenant they will be found. Paying extra for a tenant in place is silly, it’s free to list your rental on Zillow and you’ll be on your way infilling that property with a personal vetted tenant of yours.

Send me a dm with your phone number 

Someone has to pay for the Ukrainian war, sure ain’t Europeans :)

The first sentence of this post is great! They have been saying this about Detroit for the past 30 years and the reality is far from it :)

I can say in Detroit the wholesaler your talking to has most likely found that deal from 2-3 other wholesalers, they literally have to payout 2 - 3 other parties to get the deal and this is what the fees are high and the deal makes no sense. If you were to buy direct from the owner you will get great deals! I only purchase direct from owner and no assignments. It’s just not worth it in Detroit especially with the low price points. 

Blue County = High taxes, pretty simple :)

at $300 a month in taxes that’s a cash flow killer, you will need to go to the board next year and request an adjustment if possible, you may get granted but you will need to have a good report presented to the board with comps that are very similar to yours, but again it will be difficult because your property uncapped and it will never go back. 

You need to reach out to the local housing committees they will put you on their database and feed your information to their case workers. 

Help Daniel, those areas might cashflow but appreciation will not happen you will need to look at more expensive areas and higher class areas .

You can get 0% down on a land contract. I mean I understand your post but for homes at that price range you really are looking for $10k to $20k, if that’s something you can’t come up with you should look into creative solutions and those are a little easier to come by in the D.