All Forum Posts by: Jamiel Strickland

@Maurice Lucas Jr , not at this moment but let's talk more about your deals sometime.

Hey @Jim Asteriou

If you are above a 580 credit (better if 620), you may be able to house hack 1-4 units. Maybe begin to wholesale or start syndicating deals.

Do not quite on Detroit too soon, it can turn out to be a good investment. 

Lol that's just my passion for the city, but awesome you have a house here in Detroit but looking in Denver! 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Dearborn.

House Hack

@Misha Taylor,

I have helped out of state investors buy properties in Detroit and none of them have ever visited here. They trust me and my team to guide them plus I send them 100 pictures of each property I have under contract. But they all had either a friend or relative that lived somewhere close to come to take a look at the property (during our showing) and just to have an extra eye on it.  

When flipping they already have a team in place and a trusted person to communicate how the progress is going, I would not have the contractor be your only person to talk to because they can we the worse at responding and following up with, if possible find someone who can keep tabs on your contractor and the project . A friend, family, hired a realtor, trusted person, anyone you trust to oversee the contractors, I wouldn't trust them to be on schedule or do the right things I have seen contractors here do wrong things to investors. 

@Paul Nichols Awesome, thanks!

Detroit is a cash flow city! lol 

If you think about places here in Detroit, I can help any time!

https://www.biggerpockets.com/blogs/11212/79827-wait-before-you-spend-a-penny-investing-in-detroit

@Brandon Wolgast

Hey, I house hacked in Dearborn! I have a lender and a realtor here who can help with it. I did FHA 3.5% down, on a duplex. You have any other questions about it, you can message me any time.

@Maurice Lucas Jr , 

Hey, my buying criteria in Detroit is simple but can be case by case. I will not give you every detail about it but the most important things I like are homes that are on the smaller side less than 1200 sq ft. The big homes are big problems. I like to buy single family homes in Detroit I can easily understand a street or block (as far as safety, culture, demographics) better than I can for multi-family in Detroit. I rather buy ranch type homes, with no bathroom in the basement. The biggest decision makers are the street and area around. I like to see some homeowners and feel safe. I talk to the neighbors and just immerse myself into that environment as much as I can while I am buying. Now, this list of rules has been broken but I try to stick to it best I can. 

Hey @Victor Williams Jr.,

You may be able to refinance into a HARP Loan to lower payment and interest rate, then you could get more cash flow and more principal payment monthly. HARP is made for homes that are underwater due to the crash.