All Forum Posts by: Marisa R.

Detroit seems like a challenging market but from reading your posts, you don’t seem like one to shy away from a challenge. Many people would take that $2M and invest in a safer, more “blue chip”/passive investment vehicle. They say high risk can have high rewards, let’s hope that’s the case for you in Detroit! 

@Marisa R. Nicely done, impressive. Keep it up - you always inspire!

What part of Australia are you from? I spent a couple weeks on the East Coast, beautiful.

@Marisa R.

May I ask how did you transfer money into US? Did you transfer it directly to your personal account in US for the buying or you had to go around? Asking because my brother is in Vietnam and he wants to invest in US.

@Marisa R. Thank you for sharing! Very inspiring for a newbie like me who's researching and getting ready for out of state BRRRR.

How did you manage rehab from afar? Are there tips and tricks you can share? I can imagine it'll be even harder from out of country and totally different time zone. So far rehab management remotely is my biggest fear and I'm doing all education I can to overcome that.

@Marisa R.

This is incredible I live in Atlanta and I’m about to start my Rental investing career. This post gives me hope that I can still profit well in Atlanta. What are some of the areas you recommend?

@Marisa R. Congrats on your success and thanks for sharing your story! It’s really cool to see mo-town having a resurgence (at least I hope it is). Just curious what lead you to invest there... Have you seen a change in the market fundamentals that lead to Detroit’s collapse? We know the auto manufacturing jobs that the city was built on aren’t likely coming back so is there something else happening there that you see reversing the downward spiral? If it’s limited to outside investment and “urban revitalization” funds, I’d be worried those efforts are simply creating a bubble. If/when the market turns, credit markets will tighten, people from high-earning, high appreciation areas will have less disposable income burning a whole in their pocket causing them to want to invest in low cost/high risk places like the rust belt. So cities like Detroit that have been suffering from population decline, dilapidated housing stock, high crime, high taxes, poor tenant base, cops that won’t go to certain neighborhoods never mind PMs etc.... what’s to stop those areas that have had poor fundamentals for the better part of a century from reverting back to what they were before the recent influx of outside capital? Is the bubble effect something you’ve considered? Just seems like Atlanta and Detroit are opposites in that way: Atlanta is a place with strong fundamentals: incredible job growth and a population explosion where everyone who owns property has made easy money. Detroit is a great city with tons of cool history, the best music and awesome people but it has been suffering steady post-industrial decline, lack of jobs, population decline and is well know as an extremely risky place to invest except for a very recent uptick. Do you feel that recent uptick is sustainable, as in based on actual market metrics indicating an upward trend or is it simply being driven by outside investors a.k.a “dumb money”? I guess my question is are you long term bullish buy and hold on Detroit (and if so what do you see as driving the positive change), or are you planning to get in and get out before the market turns and the money coming in from outside the city dries up? Just curious as I’ve read a lot of posts on Detroit lately and it seems very high risk to me. The rising tide of a 10 year bull market has raised all the ships but that doesn’t mean those ships will stay afloat when the tide goes out.

@Marisa R. how did you have the cash reserves to make all these purchases if I may ask?

@Marisa R.congrats! Amazing story! I resonated with this because as a Canadian, this is exactly what I did in Phoenix! Buying detached houses for $50k and 2/2 condos for $30k! More power to you!

In fact you don't even need cash.  Just get here (preferably legally) and have 20% in cash.  I know a couple lenders here in Houston that will fund the rest, subject to whatever their underwriting/approval guidelines are.

 100% agree with you that appreciation is how one increases their wealth. It's that big lump sum in a relatively short perion that takes you from one bracket to the next.  Just  look at Harlem NYC as an example. People that bought at the right time went from middle class to being worth millions in liquid.