All Forum Posts by: Aaron Yates

I know Detroit properties are really cheap and they don't all seem to be in the bad of condition. Is it worth it? Has anyone invested there yet or have an opinion at all? Thanks.

You will get many different opinions on this matter. It's definitely not a city to invest without having someone with their feet on the ground here locally.

I would almost steer clear of anyone claiming to be an 'Expert' at anything let alone Real Estate. Also steer clear of anyone claiming that 'Their Way is the ONLY Way' to make money. We all invest using our own strategies, plans and goals. What works for me may not work for you and vice versa.

Surrounding cities still have some deals as well. Even under the $10K mark as long as you are willing to rehab the property. You can invest in surrounding cities still for all-in-costs of $30K or less although it is getting harder to do so.

My recent purchase was for $6K. Total costs will be under $25K and will rent for $800 a month. Not a warzone or high crime area, not Detroit, just a low income working class neigborhood. With a good process setup and nice properties you will still retain long-term tenants as many do in higher priced areas.

Obviously different areas will bring higher purchase prices. But your budget will determine the areas you can afford to safely invest and earn a great ROI.

Some great locals other than myself are @James Ross , @Michael Dundon , @Jay Wright , @Josh Sterling and the list can go on. We are all local, have multiple properties that generally don't cost an arm and a leg and know our specific markets well on the outskirts of Detroit.

I do know two investors locally that invest solely in Detroit. They do constantly battle theft even in some of the better neighborhoods. The one investor pays someone to stand outside and watch the vehicles and tools all day and pays someone to also stay at the house over night to prevent break-ins but he invests even in the areas where many won't but still have lots of people who live there and have no where else to go.

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Welcome @Marques Barton . There are lots of great local guys investing around Detroit.

@Tom A. and I also host a meetup. It's not your typical REIA. It's definitely a GREAT place to network, learn and grow.

We hold it once a month and change the venue every month. We have to plan May's event yet which reminds me that I need to call Tom about that.

Hit me up anytime.

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Originally posted by @Kyle Manduch:

Hello All,

I am a huge fan of this site and have been listening to your podcasts for the last 9 months. Each time I listen to them, I get more and more excited about the potentials of real estate and how fluid of a market is out there.

I am currently in the Dearborn area, which is a suburb of Detroit. I have teamed up with my family who have been flipping and renting in the metro detroit area for the last 30 years - riding all the waves

Welcome to BP Kyle. Lots of us are here to help if we can.

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Originally posted by @Jonathon Daugherty:

@Aaron Yates Thank you for the invite but unfortunately I will be pretty busy on the 9th with training. How often are the meetups? I would definitely be interested in attending some in the future!

We hold it once a month. Different venues, different dates.

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Originally posted by @Jonathon Daugherty:

Hello everyone!

My name is Jon and I am pretty excited to be a part of the BP community. I am currently leaving my job to start my career as a police officer (it is actually my last day as I type this!). My wife and I are also expecting twins this fall. So yeah, life is good!

I have been interested in the subject real estate investing for a while now. My construction trades instructor introduced me to flipping houses back in high school. (Unfortunately, I have lost contact with him; he was a really successful house flipper and I would have loved to learn more from him.) Ever since then, I have been doing my own research on real estate investing and I cannot wait to actually get my feet wet and start investing.

I look forward to learning and sharing with the BP community!

Welcome John. There are alot of us here in Michigan. We habe a local meetup next week in Mexican town at Los Galanes. April 9th at 6:30.

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Originally posted by @Alton Williams:

Greetings from the confines of my home/office. I just signed up for the site a few days ago and I have been listening to the podcasts for about 2 weeks now. First of all, the podcast is seriously one of the best out there. I typically listen to plenty of them (The Real Estate Guys, Real Estate Today, REI Club etc) but after I listen to all of the episodes I am left craving more and that's how I found BP podcasts. Best decision of the week. There is a great deal of content and also a hint of comic relief so you don't find yourself zoning out and having to rewind and rehash what you missed. That being said I had no idea about the website and I found this last week and became a member, best idea of that next week.

I was born in Houston raised in Detroit and now I live in Macomb county about 10 minutes from Detroit. I have been studying investing since 2012 and pulled the trigger on my first deal that same year....didn't quite go as I planned. Through all the ebbs and flows though I would not do anything differently (that's a lie I would do a lot of stuff differently but it sounds good though right LOL). I manage a hotel in Oakland county and it's an awesome educational job because it teaches me the ins and outs of running a hotel from housekeeping to acquisitions of properties and I will own hotels in the near future so it's great to get paid to practice. I am also a fairly new agent for Keller Williams in Troy which is another educational position to help propel me to my goals it's just a matter of managing my time to be as efficient as possible.

I recently purchased a buy and hold that I am currently renting out and it's cash flowing, but I am seeking a flip for my next deal and another buy and hold by Q4. I've been speaking to a variety of lenders and I'm hoping to have something concrete before July because I'm getting married in July and she would hate for me to be thinking about real estate on the cruise. I will still be thinking of real estate on the cruise though lol. (Hope she doesn't see this)

I have a strategic map of where I want to get to, but I felt a lack of the human capital with my circle of associates because they continued to feed off of my education/mistakes but never offered anything in return so I acknowledged that I needed a paradigm shift and I have been looking for like minded individuals since that epiphany. It seems that big pockets is that. I am always doing something involving not only real estate but personal development from using my vehicle as a class room for Jim Rohn, Napolean Hill, Brian Tracy, Les Brown you tube videos (just to name a few) or audio books I've dowloaded somewhere. I feel that when you change your mindset the universe will place certain things in your path, I think big pockets is that and I see it as being a catalyst for myself and thousands of others that utilize the resources available. I am easily accessible and I welcome anyone to reach out to me if I can be of any service at all. See you in the community!

Welcome to BP. Hit me up some time. We are neighbors.

Also search for 'metro detroit real estate investors meetup' hete on BP. @tom a. And I host the event.

Aprils event is at los galanes in mexican town.

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All Forum Posts by: Aaron Yates

Aaron Yates has started 47 posts and replied 625 times.

Post: How often/much do you send a letter to 1 particular lead

Post: New Member From Metro-Detroit Michigan

Post: Newbie from Plymouth, MI Metro Detroit area

Post: May 2014 Metro Detroit Real Estate Investors Meetup is Scheduled

Post: Investing in Detroit

Post: Re-Introduction Real Estate Investor in Metro Detroit

Post: New Member / Currently Investing and wholesaling in Metro Detroit area.

Post: Hello from Metro Detroit

Post: Hello from Metro Detroit

Post: LIVE FROM DETROIT....KIND OF.