All Forum Posts by: George P.

For both, $185k. What do own, duplexes? What are yours renting for? How many bed/bath? Why do you say it's a terrible area? A little more context would be helpful 

I am looking to buy a duplex property in the Norwayne area of Westland, Detroit MI for 185k. Each unit has 3 bed 1 bath. One unit is remodeled and empty and the other is not and has tenants paying way under fair market value ($700). I have run the numbers in the area and the property seems to cash flow if I charge at least $1200 per side. That said, I am looking for feedback on average rent prices I can get in that area. Do you think $1300-1400/month per unit (3Bed 1 Bath, 970 sq ft) seems realistic if fully remodeled? That is what the BP average prices it out at ($1300/month). I am looking at zillow and seem to see those rents too, but the previous owner let the remodeled unit go vacant for 9 months. They had a lot of contacts on the property on zillow, so I am assuming the PM was just not following up quickly and loosing applicant, but it is making me nervous about the deal. Anyone have any experience in the area that can speak to rents? How about vacancy and tenants? Would love some local knowledge. 

If someone is anonymous, and not being specific about what the complaint is....how do we know they are not just a competitor trying to throw shade at their competition? 

Investment Info:

Single-family residence buy & hold investment in Westland

Hey, I work for Logical PM and just want to point out the following:

1) John Wilson profile just created:

Member since June 27, 2023

2) The only John Wilson in our system, and we track EVERYTHING, is a vendor, NOT an owner.

3) John, feel free to reach out with your contact info, so we can resolve this professionally!

 We will be moving in February, so I will definitely try and connect with you after we move and get settled. So far our plan is to move and rent for a short time in Livonia, until we can find a decent first house to live in. I'm trying to get a job transfer so I have a full time job waiting for me there. If all goes well we want to learn the ropes about turning single family or multi family houses into rentals. I appreciate you reaching out to me and can't wait to meet you and this group to teach us about real estate investing.