All Forum Posts by: Aaron Yates

Many have had these experiences. And all talk about it. But many also are making money because they found the areas to make money. Especially commerical right now in Downtown and Midtown.

Most won't brag about the good and when they do no one listens. But when someone has a complaint, everyone listens and they pass that on to everyone else because it's easier to believe.

It's ashame people have this way of thinking.

Hi Sanchez, I'm so glad that you posted this. I don't invest in the city, but am on the borders. Too many people here in Michigan and especially out of State truly don't know what is going on here.

I want to move into the city but don't have the right 'area knowledge' of where to go for my budget. I know there are still some great areas. Midtown, downtown, East English Village, Sherwood Forest, Rosedale Park to mention a few.

Even Mexican town can be great. In fact now it's vurtually impossible to find a property in that part of detroit for sale. When one does, it's gone in days. But sooooo many people don't get this.

I posted on facebook a link for anyone who has netflix. Check out a documentary called 'Detropia'. There is so much history, diversity, and beauty in Detroit. If enough people who care get together, many areas will come back. But it will take current residences to truly want this as well and NOT blame everyone else for the problems.

The biggest issue with reports like this is that most Cities have areas within, that range from low to high price.

So you really can't take a median average for a 'City' to base your investing on. ESPECIALLY a city as 'Large' as Detroit. Neighborhoods in different areas within that city can vary dramatically on prices and statistics.

Think of it this way.. our country was founded by people who overtook the people already living here..

Then the invaders (now we are called Americans) claimed the land and eventually called it the United States of America.

Then they wrote the history books to make us believe that the 'Indians' welcomed us (after we slaughtered them) and created 'Thanksgiving'.

The books were written to try and convince us to believe what the 'governing people' wanted us to believe.

Although this is a strong example and many will surely hate what I posted, it's the truth and also applies to the report given in this post. People, ALL People, only report what they 'want' people to know personally or in a business aspect.

If you rely solely on these reports for investing then chances are you are already too late.

Always do your 'own' research if you truly want to succeed in anything in life.

@Matt R. , what EVERYONE here is forgetting to mention is that EVERY transaction regarding seller finance has come under new nationwide laws in January of 2014 called the Dodd-Frank act almost make it illegal for a normal person to sell on ANY type of seller-finance deal.

Seller finance deals was a way for people with less than desired credit to still become a home owner. But what happened was MANY property owners sold this way but didn't pay the mortgage and/or the taxes. Then 3 years later the buyer was out of a place to live while the owner banked the 3 years of payments and had no remorse.

You may POSSIBLY now get away with 1 a year as an investor and are fine to do your primary residence. Anything other than that and you better seek legal advice and hire a licensed broker or become one to handle the deal. Even then, after so many you STILL could get into some trouble.

Just food for thought since no one here seems to be willing to give you this advice.

Thanks Rob. I will have to remember this. Itd be nice to cross check my backgrpund checks and see if they are correct in regards to the eviction reporting.

Hey Rob, I did find a tenant screening site that will report it on one or two of the credit agencies. I can't remember the name off the top of my head but the tenant also has to pay directly through the screening company for this to happen as well.

I didn't go with them because I didn't like the reports. They weren't detailed enough and only gave you a pass or fail without you being able to review the report details.

I will try to remember and look up my notes for what site it was.

Hi Paul. I have not gotten any judgements against anyone yet. I've only evicted one person that owed me quite a bit of money but when I researched the costs to pursue it and then in the end I knew I wouldn't get paid because the tenants had 'cash' paying jobs... I chalked it up as a learning lesson.

Now I won't take any 'cash' employed tenants. Since then I've only had to ask one person to leave and the loss was about $400 for cleaning fees so again it wasn't enough to pursue anything.

So unfortunately I don't have any advice on this one for you. Try @James Ross . He's been at this a long time and may be able to help.

So you dont take any commission from the deal?

Thanks Joe. Im hearimg the same from everyone now. So its back to traveling 80%+ a year for work.

Financially will be great and allow me to start buying again in the late spring. But the sacrifice is only seeing my family 4 to 5 days a month for the next 6 to 8 months.

Thanks toneveryome for their responses.

I use two things now instead of postlets. One is Rentlinx. This site posts to dozens of listing sites. More if you register free on some of them.

I also now use Buildium
to manage my rentals and they have syndication to zillow, trulia, and two other sites.

Rentlinx is by far better for syndication but the information doesn't always get pulled properly. So as time goes you will learn how to create posts so most of the information is transfered to other sites.