All Forum Posts by: Martin Vehlow

Agreed, the BRRRR strategy is the way to go in the current market. Also, quite a few professionals take the train and commute into the city every day, so areas close to the train are attractive as well.

Hi @Nick G., It all depends on who your target renter is. Cashflow is possible anywhere if you buy at the right price, but anything under $200k in decent condition goes pretty quick on the MLS.

The MLS has lots of historical data to support this. Feel free to PM me if you'd like more specifics!

@Nick G., you're going to have difficulty trying to get decent CoC that close to you. Very competitive areas, esp for multifamily. If you are willing to come a bit further into Lake & McHenry counties, you have more options. All the best!

Welcome to BP, @Dimitar! Lots of great, free information here, be sure to check out the podcast, articles, youtube channel and search through the old forum posts for great nuggets of info.

McHenry county is a great area, def some desirable pockets there!

@Dimitry Peters, @Art Perkitny's answers was spot on! That being said, I know next to nothing about the Detroit market, I would definitely advise you to do your research and talk to very experienced agents & other investors about what works for them, there. All the best!

Wow, I love it! If you want someone to beta test or bounce ideas off, let me know!

1. one of the units must be vacant for you to move in to, this would be negotiated during attorney review.

2. if you have to move, it's unlikely you would qualify IMO. I would talk to your lender and find out.

Detroit MI?

Congratulations, sounds like you're making great progress! IMO there's a huge need for automation in property management. I'd love to learn more about your various software developments! 

That's awesome! Welcome to BP, @Chandler Jones! Happy Holidays!