All Forum Posts by: Chanel Snerling

Megan you’re such a gem for this information thank you! I’m still looking at the Islandview area and surrounding areas right now and trying to do as much homework as I can before building. I am from the 48224 area and I’m familiar with the duplexes that are over there but hadn’t looked into them at all because of the Class Neighborhood that is (an assumption it’s not an A or B..or even C)

Quote from @Megan McClung:

@Chanel Snerling for what it's worth there's a killer R2 lot in morningside (it's like the only vacant lot on the block). $6k asking price. it's R2, so by right you can build a duplex (you get your permits from BSEED like you would a rehab, no additional site plan approval required). and the lot itself has 40 feet of frontage and is over 4,000 sqft, so it meets the min lot size requirements for building a duplex.

i've heard that building costs are abt $160/sqft (i'm not a builder though, so def do your own due diligence on typical build costs in detroit). but i just did an analysis yesterday of all new build sales in last 12 months, and the sales sold for $227-$418/sqft (so that's good at least on the appraisal front).

also for people who want to build on lots that we have in midtown, we send them to a bank in town that does residential construction loans for 5% down (i think the program makes you partner with a builder/gc who has experience though). i have more deets from the lender, if you're interested in that type of financing.

there's also some super interesting duplexes in 48224 (east side). like moross-morang has some that i saw yesterday that i liked. and we could even figure a value add deal, if you want to BRRR.

as far as zoning questions, if you ever have any, i'm super familiar with the zoning code (i'm an attorney/realtor, so reading and outlining the zoning code is what i did in my free time for a few months last year...bc it made me happy? lol). anyways, happy to be a resource for you if i can be!

these are the neighborhoods where developers broke ground on new housing stock last year...in case it helps you narrow where you should be looking to build. i think you mentioned islandview/east village already. those are on this map (my fave areas).

1 Vote

Detroit, Michigan

Quote from @Drew Sygit:

@Chanel Snerling if you're going to rezone in those Neighborhoods, you'd be better off going with max number of units possible.

What construction project development & management experience do you have?

I originally wanted to do a quad but financially I know I can’t fund a project that large, unfortunately. I’m willing to have some risk but not to the point I go under if I can’t leverage the mortgage on my own. I have no experience this is my first time buying a home so I decided I wanted to build instead.

0 Votes

Detroit, Michigan

Quote from @Drew Sygit:

@Chanel Snerling where in Metro Detroit are you going to build a duplex?

Most suburban cities have VERY limited lots and most of those are zoned R-1, meaning only a single-unit house can be built.

In the City of Detroit, it's cheaper to buy one and rehab than build!

DM us if you'd like a more focused chat:)

Hey Drew, could the lot be rezoned if there are other dwellings like the one I to build? East Village, Gold Coast area?

0 Votes

Detroit, Michigan

Hi Bryant! Thank you for your feedback, I will definitely look into Facebook and I live on YouTube lol everything I watch is on REI and now GC. And yes, my reasoning is most of the existing duplex properties are in areas I would never live in being a single mom. I am from some of the worst areas in Detroit and have since moved outside of the areas that would be considered "unsafe" but because I am from Detroit I am familiar with areas that are redeveloping and have great growth potential; lots of new construction, townhomes even, and lots of land. I know that I am taking a huge risk by wanting to build but the existing properties are either in areas I'd never live in or too far away from the Metro Detroit area and I really want to come back to the city in the safer parts before I'm priced out in the future.

0 Votes

Detroit, Michigan

Hey everyone, I finally decided to make a post after months of following BP. I need some real life advice, I want to house hack but I want to build a duplex. I have been digesting all things Real Estate so right now I am working to lower my DTI while saving at least 6-7% for the Owner Occupant down payment (to include closing cost, etc.). My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they're still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance. I want to try and offset as much cost as possible without compromising quality so I'm looking for a GC mentor who could help me eat, breathe, sleep and wake GC lol. I don't want to just cut cost though I want to understand what I'm doing and be super hands on. Am I dreaming too big or trying to do too much at one time? I hope I laid this out in an understandable way but I say all of that to say is it worth trying to find a mentor whose already well versed in GC who'd be willing to coach me in my home build. Thanks!

0 Votes

Detroit, Michigan

All Forum Posts by: Chanel Snerling

Chanel Snerling has started 1 posts and replied 5 times.

Post: New Here Intro & Advice

Post: New Here Intro & Advice

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Post: New Here Intro & Advice

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