All Forum Posts by: Matt Borton

You need a rental license. it's like 100$ every year or two.  Short term rentals are very popular in this area and can offer good return.  Let me know if you need help in that arena.

@Sourabh Verma, you can make more money especially in Royal Oak by putting it on Airbnb.  I'm looking to take on 2 more properties right now. I can get you an estimate for your property if you are interested.

https://willowdwellings.com/pr...

Airbnb website says create a guest network and lock it up. 

https://www.airbnb.com/help/ar...

MattBortonIsKing, nice. Is it okay if they have physical access to the router or should I lock it up?

Hi all,

For Airbnb’s fast Internet is a must. I just got a new property that I’m fixing up and prepping as an Airbnb and I was able to get Blazing fast Fiber from AT&T. It came with AT&T’s default gateway/router. I have an August smart lock and will have a smart tv. 

How do I secure the WiFi so that guests don’t get in my admin settings or do anything illegal that can get me in trouble?

Chris, you were very patient and it seems the long explanation makes sense for someone new. It didn’t take me long to work through it. You handled yourself well and you kept the guest. Nice!

Hi all,

Rehabbing this place and what should I do with this concrete step? Fix it myself? Hire a handyman? Replace it?

Some kind of balance between saving money and time. I am mildly handy but wouldn’t want to spend more than a few hours on it. 

Thanks @Diego Ortega!

This is super helpful.  Any areas in Roseville or East Pointe that I should stay away from?

Hi all,

I'm a busy professional trying to buy my first rental property in the Royal Oak, Clawson, Madison Heights, Berkley and Ferndale areas - SFR or multifamily residential or commercial.

It is really hard to find anything that cash flows positive in these areas (I use 5% vacancy, 10% property management, $50/month repairs and $200 a month cap ex.). Even now amidst the pandemic its very difficult at least just by searching on the MLS.

Traditional financing is at 25% down and I'm still just breaking even on these it seems (going off zestimates for rent for quick ballpark).

Is it anybody making money in these areas? Any wholesalers working these areas?

Zip codes: 48067, 48068, 48069, 48071, 48072, 48073, 48017, 48220

-Matt

Hey Luke,

What did you end up going for? Still looking?