All Forum Posts by: Keyonte Summers

Don't let this experience scare you off. You just need to approach the situation in a different way. Don't start you team with the contractors or PM , be-friend a local investor meet-up with them when you visit walk properties together, build rapport and most importantly dont kick tires. The local investor will steer you away from bad contractors/PM's in the city that will run off with your cash and leave a bad taste in your mouth. Never let them know you are out of state again if you have a local person they can pop-up at the site and determine progress etc. I've had several successful BRRRR's so it possible but you can house-hack for way less the question is what area are you looking at?

@Korey Barberio ha, you have a personality I see but you are correct. I have to commend you on staying the night there as an investor. That is real commitment but you hit the nail on the head in the investor you targeted. The problem with that is you get tons of low ball offers and run the risk things walking away from the house during rehab. Congrats on the offer but are you considering continuing to invest in Michigan? 

I'm a local investor in Detroit with 9 door closing on 10 soon but that area is terrible and that building isnt worth investing in. Get yourself an local investor or PM to point you in the right direction. The successful people value their time and we get tons of inquiries from tire kickers so dont feel bad if they vet your seriousness. We get out of state investors that are solid bad properties with promises of huge ARV and bad comps to support them. It's best to join the fb groups for Detroit investors.

@Korey Barberio I'm local to Detroit and know that area very well and its not a good area to invest in. Even if it was fully renovated I wouldnt pay 70k for as a owner occupied home. The area crime rate is sky-high and don't put any appliances or mechanicals until you close. The will disappear. Maybe offer a land-contract with a decent DP but the area isnt great at all. If you need more help PM me .

Inbox me, I have some pretty good resources for financing, refi and HELOC's. I spent years building a relationship with this bank. Let me know what goals you have or what your hoping to do.

 What are you trying to accomplish? A simple purchase or refi? I want to make sure I refer you to the correct person. 

I have contacts for a few but I'm using Huntington bank

 Hey Danny, 

I'm a local Detroit investor that have done a few BRRRRR and have been growing my portfolio these past few years. I can help you start your journey. Feel free to message me to connect. Word of the wise turn-key providers need to be vetted. Light rehab properties tend to be very competitive so if you don't know the right parties pulling those off will be hard. Try connecting with a few realtors, wholesalers and join our facebook investor groups. I think you need to designate a few areas you are interested in and try and get off-market deals.

@Elvo Sou

Sure I do have some contacts I just completed one this month PM and I'll send you who I use. Just make sure all your documentation is gathered I try and send them serious investors.

@Jesse Hopcus

Don't limit yourself you can invest in both areas. We get appreciation and cash flow in both areas.