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All Forum Posts by: Greg Miller

Greg Miller has started 2 posts and replied 21 times.

Post: Canadian investors in US Real Estate market

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Vid Vin:

Hello BP community, 

Any Canadians out there who have invested in US Real Estate. What was your plan to manage the property especially when you are not living in that area/ country. I am looking at areas in the border states. Any recommendations for realtors, financers and property management companies who helped you get into and get your first property. Any other suggestions are welcomed. 


 Hi Vid Vin,

I can speak to my experience investing in the Detroit market since 2018. I started with a Michigan LLC/LP entity set up to hold the properties. I rent STR mostly through airbnb which acts as a rental manager and I have an assistant that I personally hired to flip/clean the units and also on site for renovations. BP has some resources to find realtors and property managers but I have been weary of PMs. FIRE reality team gets recommended but I have yet to use them personally. Its worth getting on a mailing list or 2 with your criteria to start getting familiar with areas and prices. I tend to find my own properties and deal with the realtors directly but having a realtor if you are brand new to the area, is helpful.

Post: New to US market

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Carlos Rodriguez:

Hi Everyone, my name is Carlos I’m from Toronto, Canada. I’ve invested in property in Vancouver and Toronto but have recently decided to take the plunge into the US. Hoping to connect with fellow Canadians that have invested in Detroit and start making local connections too!


 Hi Carlos,

I'm also from Toronto and have been investing in Detroit since 2018. My focus has been taking abandoned properties and renovating to rentals, both short and long term. Lets connect.

Greg

Post: Detroit Neighborhood Ratings

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25

Drive it. 

As Travis says, its block by block. 

And Detroit is NOT a good city to "google street view". The views are often a couple years old and the area, property and neighbors has more likely changed drastically. Best to see it in person or have boots on the ground that you trust.

Post: Brush Town vs Corktown Neighborhood for investment property

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Ryan Svedin:

Hi,

Very new to BP and real estate investing. I am looking to purchase my first investment property and have been looking into Detroit. It seems that Corktown is one of the best neighborhoods to visit / live in due to all the restaurants, coffee shops, pubs, great walk score, etc. How does Brush Park compare against it? I found a very nice condo over there but the walk score is a bit less and there doesn't seem to be very many restaurants / pubs / coffee shops nearby.

Haven't decided yet if STR or LTR as still early in my research. Any advice here would also be appreciated.

Thanks!


Both of these areas are good areas with lots of new investments. Detroit in general does not have great walking scores as its the home of the automobile, but brush park is definitely more centralized making the future walking score rise, where Corktown, although a lot going on in the area, doesn't directly neighbour another area, so walking to another area is a bit of a hike currently. With all the new bike lanes going in, the riding score should rise too!! Both are great areas for STR, but again, brush is centralized around all the main venues/arenas.

Post: What's up with Detroit and all the horror stories about it?

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Bob Stevens:
Quote from @Dan Tran:

I'm interested in investing in cheaper properties for Section 8 buy & hold, and the numbers/inventory are almost suspiciously attractive in Detroit, MI.

A lot of BP posts and threads, as well as a few google searches, warn a lot about scams, agents misrepresenting 'turnkey' properties, crooked PM companies, a slow HA office, and very high crime. 

How much of this is exaggeration? Has anyone on this forum successfully done OOS investing in Detroit? 

How relatively difficult (compared to ex. Ohio) is it to evict a troublesome tenant in Detroit? 


 I have worked in many different markets from KS, to Indi, to Memphis and Detroit. I left them all and have been working in the Cleveland markets for about 10 years, I recall buying one in Detroit about 11 years ago, total disaster, we just walked away, I am sure you can be successful there, however, you better have a SUPER team in place.

All the best  


 A lot has changed in Detroit in 11 years. 11 years ago, the city hadn't even declared bankruptcy. 2013 was the burnt ashes and the phoenix is still rising. So much growth from 2017 to present. You should come for another visit!

Post: Canadian Investor in Detroit

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Tim Bee:

Very high violent crime in Detroit.  Lots of strong storms.  High maintenance costs.  I know it's cheap but all these factors have to be considered.


 Hey Tim, 

I agree with Drew. California wild fires, drought and flooding are only making it harder to get insurance. Fires have taken out full towns and cities. There are a number of areas where violent crime exists, but as investors we research and avoid the noise to find the facts. 

Come for a visit and I'll show you why Detroit is a great place to invest.

Post: Canadian Investor in Detroit

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Gulraiz Hanif:

Hello guys! I am a Canadian investor planning to invest in Detroit. Looking to connect with likeminded people


 Hey Man, I'm Canadian and have properties in Detroit. Lets connect

Post: First Detroit Single-family hack

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Paul Pratt:

Congrats Greg! Looks amazing. I'm sure you had a ton of doubters but you made it happen. Always love seeing these transformations, your are re-shaping the city in a positive way by doing this.


 Thanks Paul. When I hear from Detroit doubters, I always ask, "When was the last time you visited...?"   

#SeeDetroitAgainForTheFirstTime

Post: First Detroit Single-family hack

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Travis Biziorek:

Looks gorgeous, Greg. Congrats! I'm a huge advocate for Detroit and love seeing more successes there. Keep it up!


 Hey Travis. Thanks so much. I advocate for Detroit any chance I get. The houses hold the beauty, I'm just polishing them up.

Post: First Detroit Single-family hack

Greg Miller
Posted
  • Rental Property Investor
  • detroit, mi
  • Posts 21
  • Votes 25
Quote from @Sharon Mittelman:

Congratulation Greg! Looking great. If I'm in the area, I would want to stay in your place.


 Thank you! Welcome any time.  Come for a stay.