All Forum Posts by: Louis Phlips

@Dustin Maxwell I’m new to the world of investment properties, and am looking to get started in the metro Detroit area. Always happy to connect to like-minded folks in the area

Hello! I’m new to BP, and ready to jump into being a landlord. I am looking at buying a small multi-family investment property in the metro Detroit area. I’m interested in a 2-4 unit building, and would love to connect to folks in the area. Thanks, Louis

An estimated $850-$950 per month

Hello all! I'm a newbie to this world, but want to get my feet wet and get an investment property from a turnkey investing property management company. I've been talking to one in the Memphis area, and essentially I would get a $100 monthly cash return.. this seems very low to me and too thin of a profit margin to risk any potential damage/repairs/ vacancy on top of this.

The down payment would roughly be $25-$28k on a $120k home, and I'm being told that returns would be 15% including cash return, appreciation and mortgage being paid off. Am I wrong to be concerned? Is this typical for a property of this price? The turnkey company would take their 10% cut, and this $100 is after accounting for 5% vacancy and 5% repairs.