All Forum Posts by: Courtney Dziewit

Hi @Bryenne Korte - I invest in Oakland County - Royal Oak and Birmingham area and will not invest in anything below 10% - obviously the higher the better! Also, depending on what you plan to do with the property, if it's a flip or rental unit(s), etc. and how you are financing determine different metrics you should be looking at in addition to cash on cash return.

Hi George - 

I am currently building a house in Birmingham, MI - that was also a tear down and new build. I'm not sure what other builders are doing out there in regards to splitting profits, but we are the property owners and also the general contractor.

As far as costs, What are the comps, if you are saying that newer homes are selling for $300-400K - what is that per square foot? What are the finishes in these newer homes that is making them attractive, because you will have to factor in that cost - Marble? Granite? Window type?

The next thing I would do is put together a budget with those finishes to make sure that the numbers make sense. Call up some subcontractors and tell them you are putting together a budget and would like to know what "X" costs per square foot (Concrete, framing, plumbing, electrical, etc.)

Also, I'm not familiar with Canton requirements but, talk with the city on any setback requirements depending on the size of the lots and in regards to your particular lot. 

Hope this helps and best of luck!

Courtney

Hi @Chris T. - 

We will be rehabbing first, good to know.

Thanks for the advice.

Hey BP Community!

New to REI - starting off my first investment with a Duplex located in Southeast Michigan.

What type of insurance should I be looking for?

Can anyone refer a good insurance provider? 

Thanks,

Courtney