All Forum Posts by: Joe Delia

You hate that gilbert offered a carrot to his employees to live around tons of his current investments? They don't have to move, they can just choose to pay more. What else was going to happen when an area "comes back"? You expect rents to stay low because they were there first?

I have a great pulse of the 30 year old demographic, and I'm in the business district all the time due to my wife working for quicken. I understand what is happening and talk to people all the time. Everyone is very optimistic and lots of people in my generation are looking to move downtown.

Can you imagine what brush park is going to look like in ten years? It's going to be amazing.

Detroit is already turning around. The rents in downtown have doubled in 5 years, pushing the old business district people to midtown, driving up midtown rents. There is only one listing on the MLS right now for corktown, for 800sq ft 1 br $120,000. Detroit as a whole will need to shrink it's footprint, and it's going to be a long time before the whole city is realistically functioning but large pockets are improving at an exponential rate.

Todays under 40 population is flocking downtown and that trend is going to continue.

The building department and courts still have a long way to go. We're not that far removed from kwame, so we need to give duggan and the state time to sort the morons out after years of corruption

Are apples stealing business from oranges?

Not the same concept. Realtors have chosen to syndicate thinking it would help, the sentiment is changing and if they decide to not, zillow and trulia are dead as we know them today.

I don't know the detroit rental market good enough to really say yes or no, it's not my thing. What I do know, your cincinnati 25-40K houses are much much different than your detroit houses.

I've lived in both Cincinnati & Detroit. They are nothing alike.

Man, with 500K, just buy 8 SFR's here in warren and get 1100 in rent per. You'll be at 8800 in rents.

I'll take the 4x monthly rent over the pie in the sky deal that maybe this area will boom someday.

I'd rather cut my hand off than do this deal.

Betting on appreciation may make you some money, but in the long run your *** will get burned.

Personally with a million in cash i buy a distressed apt building and flip it!

Your best bet is to partner with someone local who has a proven track record. Worst thing in the world you can do is state you have a million in cash and are looking for a partner. Talk to people who are doing it, figure out who is doing it most often and a lot, and ask them if they'd be willing to go 50/50 if they can train you as well. Have an attorney ready for all agreements

You also may want to consider partnering with a builder and spec build.

Looks good scott.

Bucked the beige trend in the bathroom? I'm seeing that lime green more often. Personally not a fan, but i'm seeing it a lot in properties lately.

Good luck to you!

Not from the buyer!