All Forum Posts by: Robert Syfert

@Constance Kawa-Small we are always very active in that market and continue to expand to the best rental markets for our expanding client base and needs, we would love to connect with you and learn how we can best serve your needs- please check out our website to learn more and contact my team :)

@Jimmy Cantave

Sorry everyone for the delay in responding. I was on a well earned vacation for the birth of my son and just getting caught up. :)

Since I posted my response over a Year ago things have gotten even better. We had so much interest that I partnered with my tech guy and created a custom Podio development company just for investors and even built our own CRM platform for RE Investors.

You can reach out to me with a direct message and I can tell you the site to go to there since not allowed to market our site here :)

Hi @Shayne Hastings,

I think you would find the information in my recent Bigger Pockets blog posting on investing in Metro Detroit informative https://www.biggerpockets.com/blogs/7539/63424-inv...

As others have already noted the area can be a great place to invest, but it can vary block-to-block, not just by counties. We have handled hundreds of investments in the area, including a property management company so just let me know if I can answer any questions for you.

@James Wise Were here!

VIEW FULL SIZE PDF

with special guest speaker

THURSDAY JULY 27th, 2017 / 7:00 PM to 9:00 PM

AT THE GRAND HYATT TAMPA BAY

Property acquisitions is one of the most important skills any successful real estate investor must master. Whether you are brand new to the game or just looking to brush up on your “hunting skills”, during this event you will gain expert insight on locating, negotiating and closing on the best “off-market” investment opportunities.

At this event you will learn strategies to effectively find the best deal prospects, create a highly effective marketing campaign, track and measure results, and ultimately know how to negotiate with every type of seller, situation, and personality type.

ONLY 100 spots are available - Reserve your seat today at tampareiclub.com

Hi @Michelle Chowan

First off, we all were where you are at in the beginning and being part of the Bigger Pockets community is a great place to start.

As you know Metro Detroit is a different breed the inner Detroit and it is important to separate the two. The great thing about Metro Detroit is it offers a lower risk out of the box and still has a great purchase price to rent ratio. Here are some recent stats on the area that supports why.

The median home price in Metro Detroit area quadrupled between 2009 and 2016, going from $40,000 to $165,000.

With the increase in the median home price, financing has becoming more attainable for investments in Metro Detroit area.

Eleven Fortune 500 companies with Michigan headquarters are located within Metro Detroit.

Ford is investing over a billion dollars into a new manufacturing plant in the Metro Detroit area.

The median rental price is $1,050 in the metro Detroit area

Metro Detroit rents increased nearly 6% year over year in 2016.

Vacancy in the Detroit metro area has fallen to below 4.00%. One of the lowest rates in sixteen years.

If I can help answer any questions, just let me know. I can help explain everything from which counties regulations are more investor friendly, to renting to section 8's, etc.

Hi @Marcellus Burton for legal check out David Soble. He is a member here and specializes is real estate investing law in Michigan.

https://www.biggerpockets.com/users/DavidS436 

Hi @Anton Taylor,

First off, we all were where you are at in the beginning so I appreciate what you are feeling. My one advice would be to avoid the paralysis by analysis state. You always want to do your due diligence, but at some point you have informational overload.

@Jake Weir made some great points and because we are a turnkey investment and property management company in Michigan I want to share my thoughts on turnkey and that market.

As you know Metro Detroit is a different breed the inner Detroit and it is important to separate the two. Based on where you are at I would stay with Metro Detroit as it offers a lower risk out of the box and still has a great purchase price to rent ratio. Here are some recent stats on the area.

1. The median home price in Metro Detroit area quadrupled between 2009 and 2016, going from $40,000 to $165,000.
2. With the increase in the median home price, financing has becoming more attainable for investments in Metro Detroit area.
3. Eleven Fortune 500 companies with Michigan headquarters are located within Metro Detroit.
4. Ford is investing over a billion dollars into a new manufacturing plant in the Metro Detroit area.
5. The median rental price is $1,050 in the metro Detroit area
6. Metro Detroit rents increased nearly 6% year over year in 2016.
7. Vacancy in the Detroit metro area has fallen to below 4.00%. One of the lowest rates in sixteen years. 

I also would add that as important as everything already discussed, it is just as important that you find someone you can trust to be your boots-on-the-ground. Keep in mind in most cases you are not just buying a property, you are also inherent a tenant(s) and PM company.

If I can help answer any questions just let me know. I can help explain everything from which counties regulations are more investor friendly, to renting to section 8's, etc.

Hi @Michelle Groft,

We have been doing turnkey in Metro Detroit for years, both as an investor and property management company. If I can answer any questions or help in any way just let me know.

@Ryan York Sent you a PM.