All Forum Posts by: Marisa R.

This house was purchased about 12 months ago for $23,000 in the Warren, MI with an $8000 rehab. 

According to estimates today it would be valued at least $50,000-60,000. 

It may not be the prettiest house on the Street but I am chasing cash flow, but appreciate is very welcome and what I am seeing in pockets of Detroit market.

Tax - 1150

Insurance - 630

Rent - 750 per month

Rehab - 8,000

29% gross return

@Oliver Simmons

Thanks Oliver, I am now actually thinking of holding this property and renting it out for around $1000.

Why? Because the market is rising and I believe the demand for Bagley is high, so perhaps in 12-24 months we could be looking at higher entry price.

Coming close to the end of year....would love to know what fellow investors purchased in 2018, your best deal...... if you care to share

Great deal. Congratulations

love it.

I  ask about their track record? what have they purchased, what have been their recent deals. 

I want to be using someone who has a track record of success. 

Learnt something today.... the escalation clause..... brilliant

I am paying attention to what is happening today.. .US economy is roaring, with GDP at around 4% and jobs levels at historical lows. 

I never pay too much attention to economists.... why? they always seem to get it wrong.

I like this one..... why economists always get it wrong...…

https://danerwin.typepad.com/my_weblog/2011/02/ten...

extract

1. They never stood a chance. Forecasting doesn't work and never did. Like weather forecasts, which are based on physical parameters (not psychological--like economics), it's always a hit or miss affair. [Obviously, neither Schiller nor Avniel are aware that weather forecasting is the most accurately predictive vocation of all professions. That's a scary fact!]

2. You can't predict a turning point. It's the old issue of will this turn into a horrible recession, or merely a blip on the radar for the next 15 months?

3. Economic models assume that economies are stable. Data, such as bond ratings and debt structures, are never stable.

4. Economists tend to focus on specific, accepted parameters and ratios. As a result they fail to see warning signs unless they hit them over the head.

5. Economists are afraid to break rank with the consensus. If they're wrong, it's career suicide. Since no one dares to say otherwise, the consensus grows stronger and becomes even harder to buck. In other words, economists are human, and they err.

6. Forecasts, of themselves, affect the economy. The forecast becomes part of the "given," and influences human behavior--for good or ill.

7. Forecasts influence politicians. A politican approaching an election will treat a forecast differently than after he/she's elected. The most relevant example is Germany and Angela Merkel. All forecasts depend on how Germany and Merkel behave, but nobody really knows how they will behave.

8. People look for shortcuts, but there aren't any. Robert Shiller said the market failures of the recession were foretold in the economic literature, but nobody looked at the data. Just the bottom line. The devil is in the details but if you don't read the details, you'll get caught up.

9. Economists believe their own stories. "This time it's different, or our case is different." It never is. They thought, for example, that securitizing debt would change the world and that economics would start acting differently. But it didn't, and the world exploded.

10. When the economy is roaring and soaring, control mechanisms collapse. We make our biggest mistakes when the future looks very, very sunny.

@Branden Robinson

Thanks Branden, where are you buying

@Hai Loc

Yes, aspirational suburbs, where people want to live.