All Forum Posts by: John Knappmann

Aaron, you are right about the migration going west and south as well as north. Southfield is basically ex-Detroiters. I have said before that I would not invest in Detroit without being personally familiar with the property, but I think the bankruptcy is a long-term positive in that Detroit dumps a ton of debt payments and can use the money for fire, police, and lighting.

Well, six hours of sleep later, time to get back at it.

I know it is saving money, and it's not like I CAN'T do it, it's just that there is more to it than I originally thought. I probably would do it myself again next time, but that's because a little bit of physical work is probably good for me.

There are those who think that refinishing hardwood floors on your rental units should be hired out to those who know how to do it.

There are those who think it is comparatively simple and that you should do it yourself and save money.

In the middle of the job, I think the second group of people have never actually refinished hardwood floors. I am sore all over right now.

Dan Gilbert has bought up huge parts of downtown, and things are looking up there. The bankruptcy will shed the overwhelming debt, cut costs, and maybe stablize the finances. Agree that one big problem is the sprawling nature of the city.

Disagree that only hipsters live in Detroit. 700,000 people do, and they need housing. Do the math.

Glad to help.

@Ross Bernard, I think you might have missed one of the points here. You don't have to avoid evening and weekend showings. I have a vacancy that I am currently showing. When people want to look, I explain that I have a full-time day job. In fact, I would wonder how many people with jobs (so they can pay your rent) can come during the day and look at your rental.

I agree with Annette that Michigan and especially the southeast part of it, has a lot of opportunity. Not sure if it fits for you, considering you are in CA, but just putting it out there.

Rob, that is a great story. I might just try to do a similar thing and have my kids help me look, too.

Thanks everyone for your helpful ideas. Rob is right that I do not yet have the money judgement and that my issue is getting personal service to start the case.

Hi Austin, and welcome to Bigger Pockets! Also, thank you for serving in the military.

I guess the first thing of concern is, do you know where you want to live when you get out? If it's Michigan, then a multi-unit with a VA loan might be an excellent idea. Live in one, rent the other(s), and then when you want to move you can rent out your unit, too. I think those loans have no down payment and low interest, so it would work out pretty good for you.

That's if you want to be a landlord. Some people here have brought up wholesaling. That is definitely another possible avenue.

Use this website to learn more about real estate. You have the advantage of being able to learn here before you dive in. Take some time and do so. Other Michigan folks are definitely here, and some will pop up for you along the way.

Finally, I would suggest going to some REIA meetings, which is an excellent way to make contacts. The one I usually attend, the Wayne County one in Southgate, might be a hike for you coming from Holly, but it would be great to meet you in person.