All Forum Posts by: Keith Jourdan

Wayne/Westland/Garden City/Lincoln park/Allen Park all safe areas with good rates of return on rentals.

Rosedale park is decent and still cheap. West village, just next to indian village could also see some major appreciation in the coming years.

I have represented several people on this forum buying and selling property all over metro Detroit. Give me shout !

East of telegraph Can get a little dicey . Although the neighborhood just east of telegraph north of plymouth road seems pretty nice. 

Prices have gone up a lot the last few years. The days of buying a $50k turn key house that rents for $1k in a safe area are mostly gone. 

There are still great deals to be had relative to most areas in the US. 

I have noticed that down river areas like Lincoln Park, Melvindale, have been slower to turn around and better numbers are more achievable compared to Westland/Redford areas. 

Multis in the areas you mentioned used to trade hands at $25k a unit turn key in 2010-2013. They have since skyrocketed and most of the ones you see for sale onine the owners are fishing for un realistic prices.

There is a 24 unit next to my 4plex in Wayne that sold for $1mil in March 2016, out of state buyers, did no upgrades and just sold it for $1.4mil to another group of out of state buyers. The multifamily space has gotten wild.

Tenant moved in about 8 months a go. Never calls me to fix anything, always pays full rent on 1st. 

He is responsible for gas/electric.

He called me yesterday and notified me that the electric company disconnected his service 2 months a go because his bill got too big and he can not pay it at the moment. He said he is making payments on it and will hopefully have it turned on soon.

The furnace needs electricity to operate, it will start to very cold here within the next 30 days. My concern is the pipes possibly freezing?

What would you guys do?

I fixed the issues he was having. He still has not paid. I had a conversation with him and gave him 3 options.

1. He pays by this upcoming monday, rent + all late fees. (monday is the earliest I can file in court, 7 days expire then)

2. I will pay him $325 cash to move out of the unit, all belongings must be removed and unit must be "broom clean". This would obviously suck, but it seems far better then having him in the unit not paying rent and moving forward with a who knows how long eviction process. 

3. I file the eviction paperwork monday

He just notified me of these problems today. 

tenant moved in 4 months ago. Has been nothing but problems. Constantly late by 10+ days.

He has yet to pay the rent this month (due on 1st). So I gave him the 7 day notice.

He is now saying he is refusing to pay because the sink and furnace are broke and is threatening to take me to court over it.

I'm willing to bet if I fix these things he still won't pay the rent. I really wish he would leave and i could find a better tenant . (Very hot rental market )

Advice ?

I have made about 20 offers in the last month (mostly MLS listings) and have not gotten one deal. These are for fix and flips. I have still been finding deals on rentals, but that has become tougher as well.

Hopefully as soon as I post this I will find some deals!