All Forum Posts by: Joe Hammel

@Justin Sterling

Love Metro Detroit

(my rental portfolio is here)

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%+

Cash flow: $250-$350/door+

Appreciation: Double digit (for past 10 years, will gladly 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. Ever hear of Ford, Rocket mortgage, or Beaumont hospitals? All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.

@Neel Trivedi

We love Metro Detroit, I’d say invest in your own back yard.

(I’m local and my rental portfolio is here and performs very well)

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly 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. Ever hear of Ford, Rocket mortgage, or Beaumont hospitals? All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.

Really Feel like I/we have nailed down that best balance of Price/Roi/location here in Metro Detroit

My rental portfolio is here and performs extremely well with minimal headaches.

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly send data)

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

Basically 1.2-1.4% deals

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

The bad reputation comes from OOS investors wanting $20k D market properties. Those are your headache properties lol. 

It's a lot about perspective and not getting greedy. The types of properties I mentioned above are easy to find MLS deals. They're double digit ROI and easy to find. Some always seem to want "more" and they end up sitting on the sidelines waiting for unicorns.

https://www.biggerpockets.com/...

On occasion, you do still have tenants trash a place even in the C+, B- markets. However, that’s pretty much just part of investing. Even on A markets you will get that every now and then. It is significantly less often than with the <$50k houses in D markets. So yes, you just budget for it and we always save a percentage for maint and capex repairs.

To my knowledge, there is no law requiring snow removal. So my personal rule (and seems like what most do here) is if it's a SFH the tenant takes care of their own snow removal. If it's a multifamily home I/landlord will take care of snow removal (and lawn cuttings).

How much to budget really just depends on your property and what connections you have.

So for example, I have a 4 unit property that get the lawn cut twice a month for 6 months at $40 a cut. So that averages out to $40 a month for the year, budgeted. For snow it was about $40 per shovel twice a month for about 3 months. So that’s another $20/month.

total budgeted: $60/month

@Christopher Olson

We love metro detroit and much to many people's surprise most of our deals are right there in plain sight on the MLS. It's just the advantage of being in the best cash flow market in the country.

The types of deals that people in any other market would consider once in a life time..we have all over the place.

Metro detroit consistently ranks #1 for cash flow markets year over year.

So the trick is to not over think it, and just take the stuff that’s in solid locations and scale. These types of deals beat what everyone else in the nation is doing, so take what is easy. You will make plenty of money of them.

My portfolio is here and off of 11 properties I bring over $80k a year cash flow (not revenue, cash flow after expenses)

Just plain and simple MLS deals in Metro Detroit.

@Darrell Degrazia

We love Metro Detroit

(my rental portfolio is here)

The trick is to know what to buy and not be tempted by the ones you shouldn’t lol.

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly 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. Ever hear of Ford, Rocket mortgage, or Beaumont hospitals? All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.

@James Hardie

Metro Detroit

(my rental portfolio is here)

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly 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. Ever hear of Ford, Rocket mortgage, or Beaumont hospitals? All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.

@James Hardie

Check out FIRE Realty Team on here and google

@Kris Bano

Check out FIRE Realty Team on here and google