All Forum Posts by: Luchia Park

@Drew Sygit

Thank you so much for your reply.

I will also definitely look at those areas that you mentioned.

I

@Ian Walsh

International investing so it’s bit hard but trying get better ideas

@Drew Sygit

The area is around East English village, Jefferson Charmers, Oak Park, Harper Woods etc.

My budget is around 30-40K to buy

Rehab cost around 20-30K

Multi family house for higher rental return but if single house with reasonable rental income would be good too.

@Luchia Park

Sorry forgot to mention the area

Metro Detroit area

I’m looking to get some advices for rental market.

My plan is to buy multi family property and rehab to rent out but I’m not sure what figure I can expect.

Realtor I contacted suggesting that rent for 1bed is around 400-600 2beds ,600-700.

And suggest because I'm after lower end of property I will likely get let say $1000 for 1+2 bed but rentometer average rental returns are higher. I would like to discuss rental rates with property managers, not necessarily realtors

Any advice would be appreciated as rental return figure is the main key for me.

@Tess Lambourne

Thanks for your advice! LLC is on the way

@Christopher Grobbel

Would be able to PM me with cost and timeframe to set up LLC in Detroit Mi

@Eamonn McElroy

Thanks for your advice and I will take that onboard. I am using a company from here who already has set up their teams and I can use their services but I wanted to do my own research and looking for options for long term.

@Keyonte Summers

Yes please

PM me with details

Thanks

@Daniel Hyman

Thank you for your reply

It would be good if you can PM me with details