All Forum Posts by: Andrew Syrios

Quote from @Greg Miller:

Quote from @Andrew Syrios:

Quote from @Greg Miller:

Quote from @Andrew Syrios:

I just googled and it looks like a bunch of plants have been closed for many decades. Packard closed in 1956, Motor City Industrial Park closed in 1999, Doverfield closed in 2014. Apparently there are 900 vacant and mostly abandoned manufacturing sites in Detroit, most of which have been abandoned for decades. https://www.freep.com/story/money/business/john-gallagher/20...

Given Detroit still has high crime, lots of blight and governance problems, I suspect if the auto industry is reshored it will mostly go elsewhere. (Toyota and Honda, for example, mostly build plants in the southeast and midwest, Tesla in California and Texas, etc.)

 My man, You are sighting an article from 2017. The city is has changed drastically as has crime and governance. You can always tell when someone talking about Detroit, has never set foot in the city.

 You can also tell when someone doesn't read the article you cite as that is only about the number of vacant and abandoned manufacturing plants, many abandoned for decades and not salvageable without massive investment.

The murder rate is down but still high and Detroit has improved some but I don't see it bringing in a bunch more auto plants anytime soon. Especially given the population of Detroit proper has actually declined since 2017

 There was a population increase in 2024 for the first time in 50 years. Many of the buildings in this article have since been razed and/or redeveloped. The crime like many cities is in certain areas and blight has been significantly eradicated.

I 100% agree that bringing automotive factories back is not the way to go in Detroit, but using an article from 8 years ago to talk about the state of the city is not an effective argument. 

One year of increase is a good start but a long way from a trend. And while it's definitely good those dilapidated and abandoned buildings have been removed (about time) that does mean that can't be upgraded into modernized auto factories. 

Hopefully Detroit will continue to improve and the bankruptcy a few years back will be seen as its nadir, but I don't think that means it's going to become a big time manufacturer or even a particularly successful city in the future. And I certainly don't see the auto industry there coming back in force. 

Quote from @Greg Miller:

Quote from @Andrew Syrios:

I just googled and it looks like a bunch of plants have been closed for many decades. Packard closed in 1956, Motor City Industrial Park closed in 1999, Doverfield closed in 2014. Apparently there are 900 vacant and mostly abandoned manufacturing sites in Detroit, most of which have been abandoned for decades. https://www.freep.com/story/money/business/john-gallagher/20...

Given Detroit still has high crime, lots of blight and governance problems, I suspect if the auto industry is reshored it will mostly go elsewhere. (Toyota and Honda, for example, mostly build plants in the southeast and midwest, Tesla in California and Texas, etc.)

 My man, You are sighting an article from 2017. The city is has changed drastically as has crime and governance. You can always tell when someone talking about Detroit, has never set foot in the city.

 You can also tell when someone doesn't read the article you cite as that is only about the number of vacant and abandoned manufacturing plants, many abandoned for decades and not salvageable without massive investment.

The murder rate is down but still high and Detroit has improved some but I don't see it bringing in a bunch more auto plants anytime soon. Especially given the population of Detroit proper has actually declined since 2017

Congrats Rachel! One thing I would definitely recommend is to get the sewer line scoped. That can be an expensive fix if you it's in bad shape.

I just googled and it looks like a bunch of plants have been closed for many decades. Packard closed in 1956, Motor City Industrial Park closed in 1999, Doverfield closed in 2014. Apparently there are 900 vacant and mostly abandoned manufacturing sites in Detroit, most of which have been abandoned for decades. https://www.freep.com/story/money/business/john-gallagher/20...

Given Detroit still has high crime, lots of blight and governance problems, I suspect if the auto industry is reshored it will mostly go elsewhere. (Toyota and Honda, for example, mostly build plants in the southeast and midwest, Tesla in California and Texas, etc.)

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Morgan Leiviska:

I'm in western washington, seattle/tacoma. we are getting a lot more "price improvements" here and less waived contingencies.

I love the term price improvement  :)  rural W Wa I suspect is buyers market but in some of those town the lack of inventory keeps things moving. 

Portland suburbs still flight seller advantage.. Portland metro is a buyers advantage given the social issues that the city allowed to take hold.. 

 One thing we all need to keep in mind is we're not long removed from the most absurd sellers market (mid 2020 through mid 2022) in American history, so we may have a skewed view of what a buyer's and seller's market actually are. 

agreed in all my years in this markets seemed to go in 8 to 10 year cycles.. so end of 2022 is about a 10 year cycle from the low of 2011 2012 ??? 

 2011 and 2012 were when we were getting started in KC and it was still very much a buyers market. 2009 was probably the most buyers market of them all (so 13 year cycle?). But I don't think the next cycle will ever get as ridiculous as early 2022 was. 

some what regional.. KC market there are still tons of old houses that can be bought and rehabbed that will go on forever basically.. and plenty of land to build new.  supply demand

 I know several people doing build to rent. Definitely something I'm considering (although next year would be the earliest we could get to that).

I think your going to see the modular home builders move into the build to rent space as well. Much easier for a rookie to do those than actual ground up.. NOT that your a rookie but others looking at other options for rentals.

 That's a good thought actually. Especially given how advanced and systematized manufacturing has gotten, I would think modular homes really could become standard at least for non-custom housing in the future. Already roof trusses are basically standard vs building joists on site. 

Welcome to BiggerPockets Kevin and good luck investing!

Welcome back Jay and good luck investing!

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Morgan Leiviska:

I'm in western washington, seattle/tacoma. we are getting a lot more "price improvements" here and less waived contingencies.

I love the term price improvement  :)  rural W Wa I suspect is buyers market but in some of those town the lack of inventory keeps things moving. 

Portland suburbs still flight seller advantage.. Portland metro is a buyers advantage given the social issues that the city allowed to take hold.. 

 One thing we all need to keep in mind is we're not long removed from the most absurd sellers market (mid 2020 through mid 2022) in American history, so we may have a skewed view of what a buyer's and seller's market actually are. 

agreed in all my years in this markets seemed to go in 8 to 10 year cycles.. so end of 2022 is about a 10 year cycle from the low of 2011 2012 ??? 

 2011 and 2012 were when we were getting started in KC and it was still very much a buyers market. 2009 was probably the most buyers market of them all (so 13 year cycle?). But I don't think the next cycle will ever get as ridiculous as early 2022 was. 

some what regional.. KC market there are still tons of old houses that can be bought and rehabbed that will go on forever basically.. and plenty of land to build new.  supply demand

 I know several people doing build to rent. Definitely something I'm considering (although next year would be the earliest we could get to that).

Welcome to BiggerPockets Kevin and good luck investing!

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Morgan Leiviska:

I'm in western washington, seattle/tacoma. we are getting a lot more "price improvements" here and less waived contingencies.

I love the term price improvement  :)  rural W Wa I suspect is buyers market but in some of those town the lack of inventory keeps things moving. 

Portland suburbs still flight seller advantage.. Portland metro is a buyers advantage given the social issues that the city allowed to take hold.. 

 One thing we all need to keep in mind is we're not long removed from the most absurd sellers market (mid 2020 through mid 2022) in American history, so we may have a skewed view of what a buyer's and seller's market actually are. 

agreed in all my years in this markets seemed to go in 8 to 10 year cycles.. so end of 2022 is about a 10 year cycle from the low of 2011 2012 ??? 

 2011 and 2012 were when we were getting started in KC and it was still very much a buyers market. 2009 was probably the most buyers market of them all (so 13 year cycle?). But I don't think the next cycle will ever get as ridiculous as early 2022 was.