All Forum Posts by: Michael Smythe

@Omayra C.

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse

Our analysis is a template you can follow for any city, but doubt you'll find this much info for any other market in the US.

So, why would you invest remotely anywhere else?

How can we assist you further?

@Doug Davis look at it from the other option of doing it yourself:

1) How are you going to find trustworthy contractors?

2) What are the chances you hire a questionable contractor who:
- doesn't show up on time
- refuses to deal with tenants
- drags the completion out
- won't send proof of completion
- does poor quality work, because they know you have little to no experience
- refuse to come back and fix anything under warranty

We see so many OOS investors looking to buy cheap Class C properties in Detroit.

Nothing wrong with that if you research and understand the market and your expectations are properly set.

PROBLEM: these investors jump in without "looking", won't listen to our advice and instead choose to follow the hype.

When the market teaches them a lesson, they look to blame everyone - but themselves:(

@Bruno Alhasson this will not be easy to address.

Yes, Michigan has laws that make squatting a felony.

PROBLEM: the police have "better things to do", so will do everything they can to avoid getting involved and claim it's a "civil matter" - meaning you have use the court system to evict them.

If you know what you are doing and contact the Neighborhood Precinct Officer, you have about a 50/50 chance of them helping you.

Otherwise, hire an experienced eviction attorney! DO NOT TRY TO HANDLE YOURSELF, the judges will "play" with you and drag out the eviction case.

Feel free to DM us if you'd like to chat about it.

Make sure your local laws allow "boarding house" rentals.

Going to guess this is NOT the best tenant, as what type of tenant would continue to live in this squalor?

The only logical answer - one with no options to move.

Doubtful this tenant is paying their rent on time.

So, where in your budget have you included costs to evict and no rental income for the 3-6 months it will take to evict them?

It depends on the state and local statutes and what the lease states.

Is this a Section 8 applicant?

They often have trouble paying everybody, including utilities.

This PMC seems to be doing what's easiest for them, not what's in your best interests.

Try Frank Alcini in Troy, MI