All Forum Posts by: Paul S.

@Paul S.

I'm not sure, while going through the whole process (took the tenant 4 months), they never once mentioned to her or I that they will withhold the 20%.  I only found out when they hadn't paid me after 4 weeks of the approval email.  They said until I send in the C of C, then they'll release the 20%.

Thank you Scott!

We've done some light deferred maintenance on the homes when we took over.  I was just unsure to what extend we need to update the home to. We have 1 tenant that's reaching CERA funds for rent assistance and they're withholding 20% until we get CofC, so I can see how the city is cracking down on these.

I just closed on my first rental last week. It is in another state (Detroit), is tenant occupied, and needs many repairs (new roof, electrical work and plumbing to name a few). I spoke with one of the tenants today and she does not want to pay rent until the issues are fixed; she said she wants to look into putting rent into an escrow account to be held until the repairs are made. This is because the previous owner apparently made promises that weren’t kept. It could be months before I can get all the repairs done. Should I go along with this escrow plan or get a lawyer or try something else?? Any advice will be much appreciated. The second tenant appears to be following the lead of the first.

Hi everyone!! Me and my husband are investing on properties in the Detroit area , I want to know if anyone can share contact information of  contractors that can remodel houses, I travel on September 9-10 to Detroit and I need to schedule a visit with a contractor so we can visit the property together and I can get a quote of the job that need to be done.
I have try to contact a few contractors but nothing yet. I really appreciate your HELP on this. PLEASE!!!

Thanks a lot!!!

@Lydia Woods even for better properties in Detroit it’s a total pain, especially when you’re out of state. I currently have two duplexes (and have done some reno projects) and can’t wait to get out. City officials attitude, lack of good property management, etc etc. And on those really cheap properties there is so much deferred maintenance. I’d personally try a different market.

Hello everyone,

I've been really interested in REI and have been reading books and listening to podcasts. I'm looking to get into get into the Detroit suburbs (Mount Clemens, Clinton Twp., Roseville, Warren), where I grew up. I'm excited to meet investor friendly realtors, property managers, lenders, and contractors. I want people to reach out to the right people on my team when I find a great deal so I can act quickly! I look forward to starting my REI adventure!