All Forum Posts by: Keyonte Summers
Keyonte Summers has started 7 posts and replied 356 times.
Post: Insurance recommendation - Brandon Turner's Favorite City
- Harper Woods, MI
- Posts 384
- Votes 311
@Brandon Parkes
I’m also looking for good insurance providers in the Detroit area the quotes for my duplexes has been outrageous.
Post: Detroit, New to Real Estate...
- Harper Woods, MI
- Posts 384
- Votes 311
Welcome to BP, im a local investor in the Detroit Market and surrounding communities.
Post: BRRRR Investment Question
- Harper Woods, MI
- Posts 384
- Votes 311
After PITI and 15% reserves I usually aim for $100 minimum but i like to aim around 200-250. I base it upon how fast I want to approach my goal and how long I have. I'm still in my 20's so I have time to scale and start smaller. I have a few SFH and have my first MFH under contract.
Post: Refinancing muiti family
- Harper Woods, MI
- Posts 384
- Votes 311
Financial broker? I would check with more than one lender check with other credit unions. Every institution has their own requirements most have a 6 months seasoning period others have none its all about how you present yourself. I've went back to the same lender and their answers changing depending on who you talk to or how confident you are with your investment properties.
Post: Denied conventional loan because of college debt
- Harper Woods, MI
- Posts 384
- Votes 311
@Aaron Port I was in the same box but I went to different lenders which showed different, maybe try local credit unions or smaller banks. you can try a hard money lender depending on how much time you need with the property. Or see if the seller is willing to do seller financing. It never hurts to ask questions the worst thing thats going to happen is you hear NO. This is what investing is all about finding a creative solution to get the deal we want.
Post: Renting to family member
- Harper Woods, MI
- Posts 384
- Votes 311
@William A. please take it from me i've done this twice in the past and neither worked out it always get messing and causes issues. Things would work out better if you helped pay her rent.
Post: How do I start real estate but got no money..??!
- Harper Woods, MI
- Posts 384
- Votes 311
The best way to start would be to start saving, you want going to need something to bring to the table. Depending on your goals house hacking might be the best method. Either get a SFH or MFH and rent out the other rooms if it cash flows great if not you have a rent free asset. I would save until you can acquire an house to house hack or partner with someone.
Post: SE Michigan Monthly Buy & Hold Real Estate Meet-up
- Harper Woods, MI
- Posts 384
- Votes 311
Greg can you add me to that disto list [email protected]
Post: Looking for Reliable Hard Money Lenders in Detroit Area
- Harper Woods, MI
- Posts 384
- Votes 311
How much cash are you looking for ? If you could provide more info on your deal not necessarily the address etc but numbers and plan for the property. It would help with finding a HML.
Post: Detroit Turnkey companies
- Harper Woods, MI
- Posts 384
- Votes 311
Originally posted by @Mohsin Mazhar:
Hi BP members.
I am new to the website and real estate investing.
Do you guys have any recommendations for a turnkey company in Detroit area.
Thanks!!
Welcome to the site, if you are new to investing in the Detroit area I wouldn't start with turn-key properties. You need to get your feet wet and experience the Detroit market its like no other and im not saying this to discourage your but have to know your team, tenants, and property or things wont work out.