All Forum Posts by: Kyle Tanner

I've been investing in Detroit for years.  It is a very unique market with some very unusal laws that can't be enforced.  I would NOT reccomend anyone invest in Detroit unless you have expert 'boots on the ground'.  It's very esay to make simple mistakes that you would never think of in any other market, and it could cost you thousands here.  With that said, you make lots of money.  My best purchase to date is a $900 house - 1400 sq ft, 3 bed 1 bath. structurly sound but needed about 20k in rehab.  I also purchased a home for $4500 which I have rented to the same tenant for $715/mo ($8580/yr) for close to 10 years now.

Anyone who wants to partner, let me know!

Does anyone have a copy of this system they are willing to give out or sale for a minimal cost?

Does anyone have a copy of this system they are willing to give out or sale for a minimal cost?

When looking for ANY property, find a person at a Title Company that will give you log in access.  You can run property profiles and comps all day long.  It's my number one resource I go to!

Detroit has some great ROIs, but lots of drama.  And those ROIs can be consumed by one person breaking in and stealing a furnace, or squatting and it taking you months to get them out.   If investing in Detroit, you really need to know what you are doing.  I'm happy to partner with anyone on their first prop.

What I've learned about Detroit, is trust no one.  Get everything in writing.

The < 50k loan is hard to achieve!

@Matt R.  I offer 10% on money I borrow to do flips.

It's a 'dance' for sure.  Know your market, buy right, rehab right, have the right Property Management, have the right tenant, reduce vacancy/turn over.

Detorit is a good market if you knwo what you are doing. You can buy 10k homes, send 20-25k in rehab (must have the cash, you can't finance), then get 850/mo rents (9600/yr) about a 30% ROI.