All Forum Posts by: Account Closed

Hello again,

I heard about these on a podcast and decided to look it up.  Sounds promising.  

https://techtowndetroit.org/

https://www.detroitlabs.com/

 by Cal Newport

This was the last book I read. It's not about REI, but it made me rethink about how I can make better use of technology by carefully choosing how I use it, as well as what I use it for.

Thanks Joe,  yes I am interested.  

Hello,

Our "investor friendly " agent has suggested the Downriver or Metro Detroit areas. We are mostly interested in Taylor and Dearborn Heights. I am familiar with both cities but have been away for a while and not sure as to whether they are good for investing in. We are seriously considering Taylor since there seems to be a lot of SFH's available that show potential for cash flow. I am aware that there are differences in neighbourhoods but not sure which. We will be visiting MI the end of April beginning of May to look at some properties. Is there anything in particular to look out for? Any areas that would make for good investments? Thanks for any help in advance.

Thanks again,

Didn't expect to create such a big thread.  Sometimes I see a nice property with maybe a kitchen that could be updated. Maybe new cabinets, kitchen appliances,etc.  Or even some that have been remodelled and needs these put in.  They are reasonably priced, and I don't think new appliances and cabinets are that expensive.  Don't want to miss out on a good deal because of this.  

Thanks, 

So I gather that size doesn't matter much. The SFH's that we are looking into have small kitchens or kitchenettes. The main characteristic is that they have lots of cupboards and counter space. They all are newly renovated-at least that's what the description and photos show. Using my own grown children (who say they cook) as an example... the foods they do cook aren't like what older generations did. Not that they don't know how to cook, but they don't have the time.

I suppose location is also important... if they're in a large city with lots of affordable places to eat, or to take away, why bother.   This also holds true to older people who are downsizing.  These are the markets we're aiming at-  young couples starting out or retired people downsizing.   Our agent suggests 2-3 bdrm/ 1.5 bath.  The city we chose has many nice homes available.

Hello,

I just read an interesting article that stated that fewer people like to cook at home.  It went on to say that kitchens in the future will be smaller.  Does the size of the kitchen make any real difference in finding tenants?  If so, do they prefer small kitchens or larger ones? What should I look for when buying a property for a rental... as far as the kitchen size?  Thanks in advance.

Actually, it was the Greek government that imposed the capital controls, and even though they have relaxed somewhat, they still exist.  They feared a bank run, due to the austerity measures and bail out rules set out by the IMF  and EU. This put a gravestone on construction, since contractors couldn't withdraw enough money to pay for materials.  

My advice to anyone considering investing in a foreign country is simple... contact the embassy or consulate of the country in the US or the American Embassy in that country,  they might know more about property laws as well as the political situation.  

Thanks everyone for your feedback.  Best stay away then.

Hello,

It has been my dream/goal to someday invest in East Detroit area.  Grosse Pointe area, East Pointe, etc.   I know the area has seen better days, but would it be wise to buy a house say at about 60K, that would be paid in cash, with about 2,100 in taxes?  When I do the numbers, it gets a good cash flow at about $800 rent. (Might need a bit of work)