All Forum Posts by: Keith Jourdan

I live in Michigan where the property is located.

Looking at a 6 unit complex. Numbers look great, but the building has a boiler. So the units do not have separately metered furnaces.

Does this mean I have to pay the gas bill monthy for all 6 units? Is their any way to meter individual units ?

This seems like it would be very expensive monthly.

Looking at a 6 unit complex. Numbers look great, but the building has a boiler. So the units do not have separately metered furnaces.

Does this mean I have to pay the gas bill monthy for all 6 units? Is their any way to meter individual units ?

This seems like it would be very expensive monthly.

buy some cashflowing RE, then reinvest the cash flow. simple

I often see homes advertised "50k appraised at 65k". Just an example. So does that mean one can buy the house for 50k then take more equity out of the property then 50k he used to buy it?? im confused here.

Im a 19 year old college student from Detroit. I am very interested in RE investing of all sorts rentals/commercial/rehab/developments etc. I managed to save every penny since i was 12 with intentions of investing in RE when i was older ( i knew what i wanted to do at an early age). 2 months ago i managed to acquire 10% of a low income 4plex in Las Vegas, my first RE investment, i networked with people out there and put some things together. I am very interested in buying a lower income rental here in the Detroit area (50-70k range). anyone have any experience with Detroit RE?? Im worried that our market has not seen the bottom yet and there is still room for real estate to go down, im also worried about appreciation is these so called "semi ghetto areas", yea the cap rates are high but will the homes appreciate at all?? any advice, input would be greatly appreciated.