All Forum Posts by: Jamiel Strickland

@Michael Harris

Correct! West Village is one of the places where it is not considered downtown and has built their community up. 

@Dorothy Pang

Warren is an area where cash flow is pretty solid, I like that area as well. The population in Macomb County may not be increasing at a fast rate but it is a county where its pretty stable.   

@Samantha B.

I wholesale in Detroit and when I have a home under contract I send to my buyers/investors with ADDRESS, PRICE, 100 PICTURES INSIDE AND OUT THE HOME, AND A SMALL DESCRIPTION OF THE HOME. We do not ask for EMD until after you have physically walked the property yourself or have your personnel ( inspector, realtor, contractor, business partner, family member) do so. We only ask to show proof of funds before but not a deposit. 

Sorry to make everything bold lol, its wholesalers who make other wholesalers look bad. My team and I base our wholesale business off clarity and transparency so when I see wholesalers in Detroit doing things that can come off "shady" makes me very upset. 

@Rick Michaels

House Hack! That is the way, I am doing it too but you're doing it with a storefront that is really cool. 

@Elbert Crosby,

I am house hacking in Dearborn, you really need two people which is a banker and realtor (I can help if you need recommendations). What people get wrong is they call up a realtor or banker start talking about investing. Please do not do that, when you speak to them make it very simple "I am looking to buy a 2-4 family home on an FHA loan can you help" They may respond saying "is this for your own use or investing". Just say back " I am looking to live in the home when we close, then down the line would rent out or maybe move someone in during but my main purpose is to live in that home." Try not to speak on house hacking most of the people do not know that term then get confused.

Here is my blog about house hacking:

https://www.biggerpockets.com/blogs/11212/77938-ho...

Hey @Rick Michaels,

That is the way to start off! How you get the financing? You took action and that is the way to do it, you are going to start crushing it!

@Elbert Crosby

Looking to house hack a Duplex or just simply buy a single-family rental? Go call up many lenders that are recommended by BP members from Detroit and explain what you're looking for they may have different loan programs that fit what you need ( HELOC, Traditional financing, Personal loan then Refi pay off all liens).

@Joe Hammel

The way you danced around that question was of beauty, I guess I can help out now lol. No, but seriously, I own rentals in Detroit and Metro Detroit. I help out of state investors learn the market here, help them grow a team, and provide properties (wholesale). You are doing things right already by being active on BiggerPockets.

@McFalann Calixte 

I would run it at $550 because if the tenant moves out and you don't find any other section 8 tenants more than like have to rent for $550. Best to run numbers as conservative as possible. I would ask locals about the are as well.

@Fred A Baugh and @Alex Kim

I own in Detroit and outskirts of the city, we have very high cash flow but low on the equity side. If you looking to BRRR maybe not the first place to choose but if your looking for jumbo cash flow this is the place to be.