All Forum Posts by: Juan Alvarez

I started my real estate investing journey earlier this year by buying an out of state property in Detroit Michigan with the goal to fix and flip as a turnkey. I did some major rehab (new roof, windows, etc) and also have a tenant in place now. I have analyzed the hold option prior to closing to make sure that if I decided to hold, this deal would cash flow. After listing as a turnkey for a few weeks, the traction has been minimal and have begun exploring DSCR loan options to refinance and hold as my hard money loan is maturing in a little over a month and I do not want to extend.

Would like opinions on things to consider that I may not be thinking about as a rookie on conventional or DSCR loan assuming it appraises for the calculated ARV during analysis vs finding other ways to flip now. Any guidance, thoughts, perspectives would be greatly appreciated. Thank you in advance!

2 Votes

Quote from @Travis Biziorek:

Gotta vote for Detroit here.

There's still plenty of opportunity for BRRRR deals that will cash flow even at today's interest rates.

There's a lot happening in the Detroit market in terms of investment and revitalization. They've been aggressively investing in revitalizing downtown and 10 other pockets in the city for the last 10 years. Check out the Strategic Neighborhood Fund.

The city is also currently getting ready for the NFL draft which will bring more eyes on Detroit. It also has low-entry price points where you can be all-in on a single-family house for under $100k and still cash flow.

Finally, you're seeing the appreciation story unfold as well. Everything I own has gone up 2-3x in value over the last 3-5 years. And you're seeing that in the headlines now as Detroit "dethroned" Miami as the highest appreciating market recently:

https://finance.yahoo.com/news/detroit-dethroned-miami-faste...

Happy to chat about my experience there or send some resources that might be helpful.

Hi Travis,

I recently began my journey in investing in the Detroit market and have read a-lot about everything you mentioned, so excited to start in this market. Would love to chat about your experience and any tips considering you are also out of state. thanks in advance!

0 Votes

All Forum Posts by: Juan Alvarez

Juan Alvarez has started 1 posts and replied 2 times.

Post: To sell rehabbed property or hold options

Post: In what cities/neighborhoods would a turnkey yield best cash flow & appreciation?