All Forum Posts by: Marisa R.

Hi Everyone

Thought I would post a recent sold property on same Street, and similar product

This is a hot market for flipping

https://www.trulia.com/p/mi/detroit/18601-cherryla...

Its what you do with the borrowed money that matters the most?

If you can double that money.... happy days

@Tchaka Owen

Thanks Tchaka..... your talking my language.

I am not too interested in multi units in Detroit, I have not been looking at multi units as I may be buying into major headaches with this product in Detroit... 

Perhaps I need to do more research on this.

@Tchaka Owen

Thanks Tchaka good points here.

However, I am already loading up in Detroit I have 11 properties now and they are cash flowing at around 12-15% net returns. 

The plan for me is to buy a mixture of cash cows and some that are in gentrifying neighborhoods, perhaps look at flipping a few.

I get the feeling from this thread that no one likes Detroit and expecting a crash.... that already happened..... and now on the move.

I dont need to fall in love with a particular State, neighborhood etc.   I just need the numbers to stack up and understand what is happening in the market in terms of the trend. If its rising, I am in.

Mitigating the risk for me is always about loading on a rise and offloading close to peak.

No one has a crystal ball, but you have to pay attention to the indicators along the way.

Hi Everyone

This one just got listed, of course much larger home.... But look at listing price on Warrington Drive

$279,900

https://www.redfin.com/MI/Detroit/17568-Warrington...

https://www.berkshirehathawayhs.com/homes-for-sale...

early days, lets see what this sells for 

@Jay Hinrichs

Thanks Jay for your kind words

I have no idea whether I would achieve $200,000 today,  but I am going to hold this one for now.

I am going to flag this thread and 6 months review, lets see this market is at

@Leo Poon

University District = North of W McNichols, South of 7 Mile, East f Livernois Ave, West of Detroit Golf

Anything outside these Boundaries will be significantly less in value, ie for example some are stating Bagley streets which is not University District address, much less in value...…. 

Here is a map and the boundaries

@Jabari Long

Thanks Jabari

I hope I am opening some eyes here......there are most certainly opportunities outside your backyard.

It will come down to research and risk appetite I guess.

University District is taking off for sure, but it is not the only area in Detroit that is starting to move north.

@Dejan Popovic

OK, I see what you mean

Happy to change the heading, but not sure how to do this, I am technically challenged

However, I have made it crystal clear a numbers of times  in this thread that it is equity. 

@Lashon Ene

Thanks Lashon.....accessing $125,000 equity is very much a win....

Onto the next deal