All Forum Posts by: Marisa R.

@Diana Tian

This will give you an indication of expenses. 

$36,000 - Property - Warranty Deed

Rent - $11,700 pa

Property Management - $1170 pa

City taxes - $1200

Insurance - $720

Maintenance - $500

Total Amount After Expenses - $8110

The way I keep my maintenance down is simply having a maintenance crew on the ground. This is a market where you need to manage this carefully, there are ways of reducing costs here.

Hi Cedrick

I have networked with a savvy investor in Detroit who has been sourcing the deals, well under market value

He has around 40 properties, cash flow is excellent, of course there are challenges

In the main he has been buying/sourcing foreclosures, distressed properties, and many deals that dont hit the market

The competition is fierce and inventory is tightening

I am loading up

I see this as a market with great opportunities, the skys the limit

Marisa

I guess its about focusing on today, rather than the future. One step at a time.

There are ways to speed the process, like adding value as someone mentioned, buying in only rising/appreciating markets, buy and sell down, bring capital in the door and move to other opportunities/appreciating markets. 

Persistence is key..... that's enough of my rant I guess

Marisa

Hi All

Just thought I would share one of my recent deals.

Been playing in the Atlanta market since 2011, its been very kind, an amazing ride as the market has continued to soar. In fact very low inventory, surprise surprise...... its been tough of late.

My investment strategy has been buy and hold for cash flow and appreciation and the occasional flip and developing property.

Thanks to property I gave up my day job in 2007 and have just been continuing dabbling in property markets

I am now playing in the Detroit market, some will poo poo this, and I understand why. 

But..... "fortune favours the bold"" as they say

 I believe if you know what you are doing and have the right people on the ground, buy distressed, below market value properties you are on a winner. I know perhaps easier said than done, but I guess its persistence until you get it right.

One of my recent property purchases was in Aviation Sub, nice tree lined street.

This property is approximately 1400 sq foot.

Purchase Price - $36,000

Rehab - $5000  (rent ready)

Rehab (rent ready)  $975 per month

I am currently loading up. will be closing on a foreclosure in the next week or so. Will also post the numbers

Happy investing everyone

I like to hold appreciating assets and load up, buy as many as I can, and sell down prior to peak, when you see more supply/volume coming to market.

 Also a way to look reducing the risk and debt

Marisa

Hi Jay

Good to see you on this forum, such a great contributor. I have been lurking in the background.

We have spoken some time ago.

I am the Aussie gal who purchased in the Atlanta market and now developing in Atlanta.

I am also now playing in Detroit..... I know most will think I have lost my mind, but it comes back to the right people on the ground, I know cliche. This market is certainly not for the faint hearted.

Hope you are doing well with your investments.

Chees

Marisa

Oh yes, that old chestnut.... bad tenants..... who needs them.

However, when housing markets are booming, its the easiest way to grow capital. load up I say

Marisa Rowe

As they say many ways to skin a cat......

.... and as another poster mentioned time to buy was 2011/2012.... Atlanta as seen phenomenal growth.

BTW the suburbs which were undesirable have also tripled. 

I like the beltline, still gentrifying...I still think some great potential here, just my humble opinion

For me it was purely a business decision.

I am a foreign investor and its been a massive learning curve investing in US. Had some great wins, and a couple of headaches along the way... Haven't we all????

However, keys for cash worked for me recently. 

Got the sucker out within 1 week, cleaned the place up and we all moved on.

Still out of pocket, but the other was not an option.

Hi There

You could try My Rent Source.

I am not affiliated to this group, however have a number of rentals with them. They should fit your category.

Marisa Rowe