All Forum Posts by: Geof Greeneisen

Pete Tam the areas you're looking at are very strong. I've found finestexpert.com to be helpful as well. Their rent rates in the markets I'm active have been pretty accurate.

Farmington Hills and Troy are not Detroit. Kinda like saying, I'm thinking of investing in some desert land, you know, Vegas?

Annette Hibbler Shhh, please stop promoting SE Michigan. I know you're trying to move product but I'm trying to buy product before prices get out of reach.

Please don't tell people Michigan is a nice place to invest. You're ruining it for the rest of us!

Yes, not only a great resource, but can make you money. Thanks Joe Delia. Michael Pickett if there is anything we can help with please let us know.

Matthew Petrovski I think Redford could be good. I don't know that market, you're getting into George P.s neck of the woods.

Nick K. yes you are correct, the higher end areas are harder to make the buy & hold numbers work. I was able to acquire in some of those areas in '10 - '11 when prices were really depressed. I haven't been able to get anything in Royal Oak in over a year.

Even Hazel Park has doubled in price in the past 18 months. However you can still buy a solid house there and make 20% returns. I don't think that will be true in another 18 months.

I really like Ferndale right now but I'm starting to get priced out of that market too. But that's where Matthew Petrovski comes in!

Royal Oak, Ferndale & Hazel Park

Hi Michael Pickett welcome to BP.

Hopefully you find this resource as helpful as I have. Have fun!

Best of luck

Hi Eric Reichelt welcome to BP.

I like Berkley but I've found it's hard to get the numbers to work for rentals. In fact Berkley is seeing a lot of new construction right now. The days of cheap houses there I think are gone.

I've been buying rentals in Royal Oak, Ferndale & Hazel Park for the past couple of years. Each community has its pros and cons. RO I thought would have higher appreciation, HP I thought would have higher cash-flow and Ferndale would fall somewhere in between. All of these areas have been strong for finding good tenants. What has surprised me is that all of these areas have come close to doubling in value in the past 18 months. I think they will continue to be strong for the next 18 mo.

I know Bryan H. recommended against Hazel Park but I have found that market to be very strong. Rents range from $725 to $800 and, depending on the house (and the tenant) you could net $6k annually from a $20k investment, so long as you self manage. It's nice not having a mortgage.

I think the south Oakland County rental market will remain strong for the next several years. If you are thinking of acquiring several over the next couple of years why not diversify into different markets? Don't over extend, get in and learn the business then continue to acquire.

Have fun! It's a great business.

Welcome to BP Brian Illingworth

It's a great resource. Have fun!