All Forum Posts by: Keith Jourdan

Both Dearborn and Dearborn heights have great areas and not so great areas, let me know a specific address and I can let you know my thoughts. Neither city has "dangerous" areas....just different levels of desirability.

Taylor/Dearborn Heights/ Redford are notorious for being difficult with inspections. I deal with these cities building departments on a daily basis. Contact me if you need advice, I would be happy to help.

Westland/Garden City/Redford has been my main areas over the past 8 years. A great balance of cash flow and stability in these cities. 

Check us out at kjmanage.com

We do a lot of work in Westland and surrounding areas.

I focus on Wayne county suburbs, Redford,Westland,Wayne,Dearborn heights, Taylor areas. Cash flow is strong and a little more stable then a lot of the city of Detroit areas.

Crazy how the market has changed in just 1 year. Wish these deals will still available....

I have been investing all over Westland since 2011 and manage 100+ there currently. Norwayne is in the southern part of Westland 48186. A little cheaper then north westland, better cash flow but a much higher concentration of rentals. Any questions send me a message anytime.

I was able to do it right after rehab, before 6 month seasoning period and before tenant lease was signed. Underwriting would take into account contractor invoices of completed work.

The max the loan can be is 75% of the new appraised value. However, the first six months the max the new loan amount can be is no more than the purchase price, closing costs, of the current property at the time of the initial purchase. Prior to the verbiage use to include the word improvements. In a recent guideline change/update from Fannie they removed the word improvements as part of the initial investment and changed the verbiage. 

Basically now you can only get back what you bought the property for, improvements that increase the value will not count unless you wait 6 months from purchase.