All Forum Posts by: Jon W.

@Christian Hutchinson send a letter regarding the change of ownership and also go knock on the door. That is the best way to find out the situation. If they are hostile then you may have to evict. But you should be able to work out an agreement. 

Michael, make sure you attend some local meetings where you will meet wholesalers and find people doing deals. 

Feel free to reach out if you want some direction.  Good luck. 

Jon

congrats @Brandon Cook.  What advice are you looking for?

I am a full time investor in the Detroit area in need of a few more private money lenders for flip and buy/hold investing.  There is a lot of opportunity in the area.  If you have money to put to work lets talk. Everything is negotiable. Tell me what you are looking for.

A successful Detroit will take an inflow of jobs and people to the city. It is gaining traction. 

More people, more jobs...that is good for the whole area. 

For property management talk to the guys at Castle.  Entercastle.com

I use them.  They are great.

Indian Village, Sherwood Forest, BE, Midtown, Downtown, UD...those areas are GREAT but very expensive for a rental unless you are speculating on rate increases...

Stick with Rosedale Park, parts of New Center, the Bagley area or Woodward corridor north of Midtown (nice call @Christian Hutchinson). There are many more good rental areas but if you are not local they can be more challenging.

Good luck.

@Nick Bendick I know Jeremy Burgess is doing commercial RE.  He runs the Renegade Detroit Investor meetings too.  PM me and I can pass on his info.

I have used Main Street Bank in Troy. 

A 42 unit for 50k is probably not something you would want to hold. We can get really great returns out here but that is even too good to be true.