All Forum Posts by: Rassan Sampson

None of my mortgages have an escrow account and I haven't done this myself but I'm fairly confident if you reach out to your loan servicer they'll work with you to get an escrow account set up for your taxes and insurance. 

 Great question @Travis Biziorek! I bought in summer of 2019 and have been pretty dormant since then. Looking to get more active again with plans to buy and sell early next year. and hopefully steadily grow form there. I'm definitely interested in hearing more about your activity in Detroit, I'll DM you sometime soon.

Hey @Jonathan Swift, I live in California but invest in Detroit and visit frequently. I'm also looking to grow my network with those investing the area. 

 It's been a while so the details are hazy but I don't think it cost too much. Of course it depends on the condition of the property but the requirements are pretty basic to make the property habitable.

I can't say for sure now but when I purchased my property in Detroit in June of 2019 and failed the first inspection that fall and finally passed in January of 2020, it took a while to receive the certificate but I was never made aware of any penalties. Going through the same process on that property now and hopefully will have a solid answer soon.

Hi @Alicia Marks! Nice to meet another Detroit investor that'll be there. I plan on being at Monday's networking session at 430pm, would be nice to meet you if you'll also be there. Maybe if other Detroit investors see this they can plan on being there as well.

Welcome @Damiete Horsfall! I'm out an OOS investor but travel to Detroit relatively frequently for work (automotive engineer). Very limited experience here but looking to connect and grow with others, connection request sent!

Hi all, are there any other Detroit/Southeast Michigan investors going to BPCON? I recently bought my ticket and thought it'd be a good opportunity to meet others that invest in the area. Feel free to message me directly or reply in the thread so others can see and respond too. Looking forward to meeting some of you in San Diego.

Thanks for the feedback everyone, I was recently able to get some help with MLS data which is a lot more helpful than what I could find myself on Zillow/Trulia, etc. I'm using this to adjust/trim my initial SoW and I think this will be a key part in not over renovating for the area. Thanks again and I'll try to follow up in a few months on how this turns out.

My first and only rental property in East English Village has been underperforming since I acquired the property in 2019. I believe it can do well if renovated to attract higher quality tenants and rent at the market rate instead of below market as it is now. The challenge I'm having is determining the renovation budget against the expected increase in rent. I've asked for feedback from my property manager (response wasn't very helpful) and have looked at comparable rentals on Zillow/Trulia/etc. and rentometer but I would like more confidence in the numbers before hiring a contractor. Does anyone have suggestions on other ways to determine if the planned renovations will increase the rent to the needed level? Are there other resources I may not be aware of or consultants for this? Thanks.