All Forum Posts by: Prashant Singh

Hi Bruce, I see you have experience in CA and AZ. Are you sure about TN?

Hello,

   I live in Apsion, TN (Just east of Chattanooga). I have about 800 sq ft of unfinished basement. I am planning to get it finished. My question is do I need to get AC/Heating installed as well for the basement to count in the square footage of the house.

Thank you

@Drew Sygit

>>On the other hand, Detroit is full of rundown properties that are basically Class D, in Class C or better blocks/neighborhoods. All you need to do is fix them up correctly and rent them out

I like that :) Let me look some more into this area and probably I will bug all the helpful people here again :)

@Drew Sygit Class of investment is determined by neighborhood. Right? So we can't really improve the class of the property ..right?

@Drew Sygit Thanks a ton for those suggestions. I will certainly look at your blog and posts. Can you elaborate a bit on 

>>2) Not having a clear understanding of the type of asset a property is

I totally get it not to invest in class C/D areas in metro Detroit area. 

For a new investor, would you suggest putting a team together like real estate agent, contractors (for rehab work), and PM company or make it hassle free by buying directly from turn key companies (for eg. https://strategyproperties.com or https://usinvestorgroup.com/). Although I am not sure how to evaluate the quality of their work and legitimacy. Any suggestions there?

Is the sub-urb market hot enough that it may be hard to win an offer as an out of state investor (due to lack of agility which comes with distance?)? Could it be hard to evaluate a contractor for rehab work and monitor their progress? Those seem to be the downsides of putting a team together. Any thoughts on that?

Thank you all for your response. I will certainly pay heed to your suggestions and do the due diligence.

Hello,

   Has anybody had any experience working with https://usinvestorgroup.com/ ?

I wish to invest in a rental property in Detroit and they popped up as one of the top google searches when I was doing my research. Their sales pitch looks good, about them doing bulk of the ground work in the process of finding a property and buying.

If not this, then any other suggestions for a reliable broker company, or any suggestions about investing in Detroit (neighborhood, strategy etc.). 

My interest about real estate investment kindled only a few days ago :)

Thanks in advance!