All Forum Posts by: Marisa R.

 Makes perfect sense to me, Marisa unless builders are getting increasingly pulled to the suburbs and build prices are rising simply to entice them to Detroit proper (not sure that's necessarily a bad thing though either).

Curious where you're getting this data. I'd love to keep an eye on this metric.

I've invested in a lot of the cheaper properties in Detroit over the years, and the low end properties that rent for $700-$900 are really tough to get the numbers you see on a spreadsheet. There is constant maintenance, tenants falling behind in rent, tenant turnover, inspections from the city, etc. All of that kills your ROI. Maybe I am not using the right property manager, I don't know, but we have used multiple property managers in the past and it was all the same thing. Lots of problems all the time. Cash flow is not predictable with lower end properties. Just my two cents from experience. Would love to talk to the property manager you are using @Marisa R.

One of the things I here all the time as a landlord is "rent is too high".  I am from a city outside of Detroit where the real estate was extremely cheap and still relatively is in some spots.  So many people will complain about the rent but even worse will not buy a property in their own neighborhood. 

As I am writing this the homes are getting more expensive in Detroit metro area lol.  In my city Pontiac, 2 years ago it was normal to buy a 3 bed 1 bath 2 car garage house for 50K.  That has turned around to more like 100K now.  It is obvious the people from here are definitely not buying the properties. 

This is even more baffling that my area is 1 on the diagram. What is your take on Gentrification ?

I am new to BP and new to investing in real estate. I have saved a bit of cash and am looking to buy my first property to rent out - my goal is to build a real estate portfolio that builds my passive income to 5,000$/ month. I live in Israel and I think the best option is to build a rental portfolio, although I am always open to new ideas. 

What I want to know is where is the best to start off? If I am able to put down a down payment of 20% on a 1,250,000$ property or even to buy a few properties is that better than buying something for cheaper and paying out the mortgage faster? Or should I start with a different type of investing in real estate altogether? 

I really appreciate everyones help!

What are the best areas to buy property in Detroit for cash flow? 

Preferably B class neighborhoods!

@Marisa R. WOW - you bought a place for 32 k that is bringing in $800 per month? Well done. That's exactly what I am looking for. Any lessons learned from the deal/management? Or has it been pretty smooth? What is the monthly cost for property manager? 

 Hi, What zipcodes would you recommend in Detroit? Also do you have a recommendation for a good property management company expirenced with Section 8?

Hey BP!

I just wanted to share some super exciting news with you guys! I started Real Estate Investing at the end of Dec, 2015 and joined Bigger Pockets around the same time.  While working a Full Time job as a Wells Fargo MBS Consultant

(among other business ventures), I've grown my portfolio to 36 rental units.

During this time, I also bought myself a house, went on numerous amazing trips, and even purchased a Lamborghini. BUT I was also putting in consistent 85+ hour work weeks and basically driving myself to death. My health and my productivity was suffering heavily as I grew my business.

I originally told myself I was going to exit the rat race by the age of 35. It quickly dropped to 30, but I realized after some big acquisitions last year that if I could expand as much as I did working two careers, how much more could I do if I just focused on REI?

So... I made the jump and after my 5 year anniversary at WF this past Sunday, I submitted my resignation!

Yup! Officially "retired" at the age of 28 :)

I'm super nervous and excited at the same time. Not having a solid W2 and great benefits is definitely daunting, but I can play or work as hard as I want on my own terms now. I'm a very firm believer in getting out what you put in and I just have to trust myself to always do the right things. 

So what's next?

 I'm going to let my properties and skill set sustain my passions. I really want to get into the EDM, convention, and Esports industry in some capacity. I'll also be traveling almost every other week for the rest of this year. Of course, I'll continuously be looking at Real estate opportunities around the country and even exploring things outside of residential holdings. I've already looked at some commercial buildings and storage facilities and there's a lot of potential there. But hey... with time, a capital foundation, and some sleep (haha), the sky is the limit!

I'm just excitedly blabbering at this point, but I just wanted to say I can't thank the BP Community enough for all the information and guidance in the past couple years. It has been an amazing journey, and I can't wait to start this new Chapter of my life!