All Forum Posts by: Joe Hammel

@Michael Oliver

Metro Detroit has what nearly every single investor wants.

Couple hundred bucks a door (after PITI and budget expenses) , double digit ROI, and yes, the prices appreciate and you build equity.

You just have to know how to recognize it.

I cash flow $100k a year off 20 doors. Happy to send a screen shot of the break down to anyone who reaches out. It won’t allow me to attach a pic here.

@Rakesh Balavanthapu

Metro Detroit

(my rental portfolio is here)

Purchase: $80k-$130k

Rent: $1100-$1500 (no rent control in MI)

1% rule: 1%-1.4% rule deals

ROI: 10-14%

Cash flow: $250-$350/door (after all expenses and budgeting for maint, capex, vacancy)

Appreciation: 3-15% (has been double digit for a decade)

Location: C+, B-

These numbers are based on the "sweet spot" in Metro Detroit. These are largely in the suburbs and some markets in the city. You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases. Where these numbers are found, there is a very high rate of rent actually being paid.

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints. Ford, Rocket mortgage, Beaumont hospitals and more. All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation of “Detroit” comes from OOS investors wanting $20,000, D class properties. We don’t buy those lol.

@Ralph Richardson

Metro Detroit

(my rental portfolio is here)

Purchase: $80k-$130k

Rent: $1100-$1500 (no rent control in MI)

1% rule: 1%-1.4% rule deals

ROI: 10-14%

Cash flow: $250-$350/door (after all expenses and budgeting for maint, capex, vacancy)

Appreciation: 3-15% (has been double digit for a decade)

Location: C+, B-

These numbers are based on the "sweet spot" in Metro Detroit. These are largely in the suburbs and some markets in the city. You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases. Where these numbers are found, there is a very high rate of rent actually being paid.

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints. Ford, Rocket mortgage, Beaumont hospitals and more. All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation of “Detroit” comes from OOS investors wanting $20,000, D class properties. We don’t buy those lol.

@Cindy Ni

You just can’t beat metro Detroit in my opinion. My personal portfolio here is made up of 19 doors cash flowing $90k+ a year (after all expenses and putting aside $200+ a door each month for vac, cap, maint)

I purchased from 2020-2022 almost entirely off the MLS.

Notice I said Metro Detroit and not just Detroit. These aren’t $15,000 houses. These are $100k houses that rent for $1300 a door and they just work. Light sweat equity. Great deals for a first time investor to buy, see how it goes, learn a lot, gain some confidence and then you can either change your strategy or buy more. What we end up seeing the most is they come back and want to buy another property that is as close to the first as possible.

@Arsen Atanasovski

Lol I can’t help myself sometimes…

@Brendan Lawrence

We make a lot of money investing in and AROUND Detroit. People tend to thing all of Michigan is $10k falling apart houses in detroit where tenants don’t pay.

We have portfolios with averages prices around $100k that cash flow $200-$400/month and about a 98% tenant pay rate.

@Kevin James

Hi Kevin, you can check out FIRE Realty Team reviews on here/google and see if it’s what you’re looking for.

 I personally use them and have never had a problem. They form the LLCs, send me my documents, and I’ve never had a problem.

They offer other services, but I've always just said "No" to anything additional they offer. I only do the LLC formation.

They’re a pretty large, nationally known company, so I’d be surprised if they would risk their reputation with a scam for a few grand.

perhaps try contacting them again and seeing if it can be worked out?

I have no affiliation with them in any way…I’ve just tried multiple methods for Llc formation and I’ve personally found them efficient and well priced. 

I love Metro Detroit. My entire portfolio is here and cash flows extremely well. Truly feel like there isn't a better market out there for price/rent ratio in solid locations.

Metro Detroit

(my rental portfolio is here)

Purchase: $80k-$130k

Rent: $1100-$1500

ROI: 10-14%

Cash flow: $250-$350/door (after all expenses and budgeting for maint,capex,vacancy)

Appreciation: Double digit (for the past 10 years, can send data)

Location: C+, B- (suburbs and certain markets)

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints. Ford, Rocket mortgage, Beaumont hospitals and more. All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation of “Detroit” comes from OOS investors wanting $20k D class properties. We don’t buy those lol.