All Forum Posts by: Keyonte Summers

Originally posted by @Lonnie Higgins:

have two properties ready to go 

Detroit 48215
Arv: 90k Price: 25k
Detroit 48207
Arv: 60k Price: 12k

you link are broken i cant access the properties

Most of the home in the land banks arent worth the risk with the amount of funds, the neighborhoods, and the problems you might have with contractors. Many that I have seen are total tear downs.

Welcome,

I invest and line in the Detroit area, lets connect when you have time.

All of those area are solid for buy and hold SFH i over a few in Harper Woods and returns are good. New development for homes I dont expect to see to many but as @Jacques Cyr said new development to Malls/ Strip malls could potentially force appreciation.

@Fred A Baugh yes I currently invest in Detroit and the surround area. I’ve lived there growing up so I’m pretty familiar with the entire city. If you are looking to invest I always say do your research and come out here and stay a weekend to get a feel for the area.

Can you please send me this info @[email protected]

Originally posted by @David Hicks:

Selling an assignable contract for this property.

Great Investment Opportunity in a good neighborhood near Grosse Pointe, MI. This would be a perfect low cost investment with a 12% return for Landlords and a 20% ROI for you rehabbers!! Cosmetic clean up, some appliances and a cleaned up garage will get this one ready for the market or just clean it up and rent it out for an average of $950 per month (rentometer: https://www.rentometer.com/analysis/3-bed/20600-ki...).  Please email me or text me at (313) 600-0000 or [email protected] for 60 total photos of the property.

I would show the numbers to a potential lender so they are confident on their ROI

You can get gifted money during the mortgage process but you need to have enough income to sustain the PITI

Originally posted by @RJ Gustilo:

@Dwight Sands how did your inspection go? Did you go with the company Matt recommended? I am looking to invest in the Detroit area as well and it would be my first investment. I am trying to connect to third party inspectors as well.

RJ

 I have a third party independent home inspector that I've used for my primary and investment properties. 

Originally posted by @Shanae Williams:

Okay. So, I want to buy a home I can live in while I fix it & rent it out.. rinse & repeat. I live in the Detroit area & my budget is 12k. Only houses I can get with that are in rough neighborhoods, that I myself do not want to reside in.

What would you guys do?

  I bought my first home in the detroit area you can get pretty good financing in certain areas with no closing cost depending on the area code. It what i did for my first few home lived in them renovated them and rented them out. If you would like to PM me or meet up we could possibly partner on something