All Forum Posts by: Paris Scroggins

Hey gang! I was wondering, is it common to have issues finding tenants who meet your credit criteria? I'm a new landlord and it seems every candidate is lower than what my fiancee and I are looking for. Also, should I consider compensating factors? I don't want to reject EVERYBODY because their credit scores are low. We just bought our duplex a month ago and we're not in a rush to fill the vacancy because we make enough for the mortgage and bills, but at this point I'm feeling like at least a 600 seems like a lot to ask for and I just never thought it was prior to being a landlord. Advice is appreciated!

Quote from @Account Closed:

@Paris Scroggins i should have tagged you in my response earlier! but does that map i uploaded for craig help you get your bearings? i want to connect with people who have eyes on detroit as well, so it's nice to meet you! also in case it's helpful, these are the 10ish neighborhoods where developers are building new construction. on the east side, you'll see islandview and east village (they border the yellow, which we call the villages - it's a really gorgeous historic district, like boston edison). and islandview and east village are very up-and-coming areas (pretty blown out, so that's why there's lots of land for developers to build on). and with that in mind, those areas (like all around van dyke and kercheval) are popping off and attracting renters and home owners bc of the retail/bars/restaurants that the villages offer (the yellow part of the map). is that info overload? or do you have any questions?

 It's a lot of info but its all GOOD info. I really appreciate it. We ended up buying in the jefferson chalmers/grosse pointe area and are liking it so far. It is nice to see all the development happening around here!

@Drew Sygit I Appreciate the info! I'm looking to househack. The idea is to build my foundation in real experience. I'm looking for multifamily's (2-3 units preferably) to start gaining experience in landlording and even minor repair work. That being said, I don't mind anything in between a B - C class neighborhood. I do expect somewhat of a challenge, but ideally would like to avoid anything that would need more than a few cosmetic repairs or tenant evictions, of course the latter is not always guaranteed. 

Looking to connect with people who have some local knowledge of Detroit. I'm a Michigan native looking to move back to start my portfolio but I haven't really spent too much time in Detroit and would love to hear people's experiences.

I bought a ticket for this event but will be unable to attend. Please feel free to contact me if anybody would like to purchase my ticket for the normal rate. 

i know this is kinda late but i really enjoy https://www.michiganrealestate...  tons of speakers, workshops and networking done

@Kevin Zolea much appreciated!

Where would you recommend looking for assignment contracts in the state of Michigan?

@Ned Carey noted. I'll take a look at some local groups and see what they look for in the market