All Forum Posts by: John Knappmann

Hi Austin, welcome to BP. I think your question is not being answered because it is too broad. I would suggest you do the following:

1) Introduce yourself in New Member Introductions, and give details about what you might be interested in.

2) Set up some keywords for things like Georgia so that you know when posts about your area come up.

3) Check out the info already here. There's forums, blogs, and podcasts. There is even a free Beginners Guide to Real Estate that you should check out. That should probably answer your actual question.

I would like the downtown, livonia, southfield, or troy ideas. Just don't go too far north on me. I'd love to do one downriver, but know I am outvoted on that.

Well, it was pretty great. Thank you to @Aaron Yates and @Tom A. for bringing us together. I heard a rumor that, next time, Aaron is picking up the tab for food!

Like Flounder once said, "This is gonna be great!"

Tereal, one thing to consider, also, is that what you think needs to be done to the property is not what the landlord might think. He may think it is fine as it is for a rental and therefore worth $30k, not deducting for repairs that you think need to be done.

Tracy, it would probably be hard to wholesale and flip when prices are low no matter what. I would try doing that suburban to Detroit, instead.

Tereal, it's going to be hard to convince the landlord to take a fair deal when he has cash flow. He might even be upside down on the property with your offer.

Your mom would be probably be better served if you found her another place and bought it instead of this place. I understand she probably does not want to move, but your choice is she either stays and rents or you buy somewhere else.

Good luck.

I agree with your reasoning, Jon.

I work downtown and can personally attest to the dramatic change that has taken place there over the last three years. It has been an amazing turnaround. Now the midtown area has picked up as a result, and the local media is reporting other nearby areas are starting to really pick up. It doesn't yet affect the distant neighborhoods in the city, but I think most locals have an honest belief that it eventually will.

Welcome!