All Forum Posts by: David Roberts

nice to see who my competition is around here lol

Yep still there.  Wyandotte is jumping downtown alot more now than when i was growing up. 

portofinos?

If your dad knew wyandotte very well he might remember my house.  Had a big white satellite dish in the backyard in 1982, back before anyone else did.  I sometimes run across people that remember it. 2nd street between northline and goddard.

My dad built that dish from scratch. The cable companies were pissed at the time because he was stealing cable and at the time there were no laws for it yet. At least,  that's how i remember it.

scott send me your listing before you put it on market please.  Give me first Crack at it

I like downriver.  I grew up here in wyandotte and I've gotten to know the areas very well.   Its not nearly as rental saturated as some of the other areas.   And every bit as good of opportunity. Give it a couple months for the market to reload.  southgate and allen park homes you can get for 50k and rent for 1.1 to 1.3k.  Some areas in wyandotte are the same.  People are extremely loyal to these cities as well.

PS. I just bought a 3/2 rental in wyandotte and am closing on it in 2 weeks.  It will cash flow 400 with all my cash out.  The deals are here.  Just be patient. 

It's just the calm before the storm, gentlemen.  :)

I'm from downriver and also heavily involved in the area.  I agree with you.  Tough right now.  Message me your price points and such, I'll add you to my buyer list if that's ok.

 its not a 50k house renting fir 1k, its an 80k house purchased for 40 or 50k with 10k rehab now valuing at 80k that rents for 1k, and they are all over the place around metro detroit.  Your better off selling your grand rapids property and getting 2 wholesale deals at 60k all in (purchase plus rehab) that will cash flow 300 or more each with a property manager. There are several options for you and boots on the ground here.  Just my 2 cents.  Wish you the best in your endeveaors! 

Better off finding a cash partner. 

This is a great question and thread because I am wondering the same with doing cash out refinances, although with SFH, where it's more likely to have similar comps.