All Forum Posts by: Bala A.

Hamtramck is more Industrial in my opinion. And that makes it less desireable. 

In this recovery phase of Detroit we will see all values rising. Some rising faster than others. 

And Hamtramck is definitely not on the "fast" bandwagon imho,

@Andrew Combs

Not a fan of Hamtramck. I think there are better areas to park your money.

Have you looked at Bagley, Aviation Sub, University District???

Its dependent very much on the deal.

I have picked up deals at $35,000 and on retail market would sell for $85,000. However, this would require a retail full rehab, very much different from a rental rehab. 

We could be looking at anywhere from $800-900 rent per month.

Most in this market are cashing cash flowing properties, buy and hold.

I would be very selective on what and where I would be flipping in this market.

@Amir Giryes

There are some banks in US that will lend to foreigners, however this will be an equity loan, you wont be jumping hoops as you will with regular lender. Though fees will be expensive and interest rates will be higher than the norm.

@Account Closed

Nice thread.

I have always focussed on cash flow, its not always been the easiest ride, but I believe if I could find a solution to a problem I could make a market work. 

I started in the Atlanta market in 2011, buying foreclosure properties, rehabbing and renting, these well and truly met the 1% rule, today would be a different story. 

At the time I was told by many investors I was buying the wrong properties as they were C grade. The rest is history, as Atlanta has experienced massive appreciation in practically all neighbourhoods. 

My focus is still cash flow, lower end in Detroit, but  I certainly not buying in war zones. I am following the same principals, buy in low, good neighbourhoods that are gentrifying that will cash flow and increase my income stream.  Slow and steady she goes... but its working for me.

I can not meet demand at the moment in the Detroit market.  Someone switched the light on...

There may be many vacant homes, but I am focusing on good neighborhoods, averaging around 7 per week.

@Fred A Baugh

Detroit can be hit and miss, keep researching, there is plenty of information on neighborhoods that are gentrifying.

I have been playing in this market since 2014 and I hold many rentals that I hold for cash flow, I see Detroit as a great opportunity for cash flow and appreciation, and I can not get these numbers anywhere in US. However its not passive investment, it requires more work from my experience.  

I also source properties for investors in C and B neighbourhoods.

Feel free to message me if you have questions

Well done. Looks like a great project.

All the best

Nice.

Yes, if the numbers make sense and you have money in your pocket, cant knock that.