All Forum Posts by: Scott K.

Scott K. has started 25 posts and replied 663 times.

Aren't you in the same type of market in Vegas.

Just not understanding the appeal of Detroit to you out of towners. You know you will not be able to buy anything downtown right?

0 Votes

http://www.wxyz.com/news/detroit-homes-selling-on-ebay-for-cheap-bargain-or-bust

Worthless properties that will be money pits and headaches

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Originally posted by @George P.:

i'd never buy there, but we go for areas like westland and livonia (only SFR's). one of my agents has a duplex (i believe) on the edge of detroit and redford and he has a big black guy collect the rent and manage everything. he is happy he got it because it's cash flowing like crazy. but he never sets foot there.

if this city ever comes back we (the ones that dont want to touch it now) will look like fools.

I can live with looking like a fool. How long have we heard its coming back. Not like we are not making money else where

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That's great. I will be single in a few short months. Any female BPer's wanting to relocate to Detroit I will have a room waiting for them.

Must have:

A good job

Ability to stay up past 8pm

A drivers license

No felony arrest

A credit score over 720

a passion for cleaning

And a portfolio of at least 12 cash flowing properties that I can buy into for 51%

Thanks and have a great day. Let me know ladies

3 Votes

In Detroit or in the Metro area?

Pay all cash for rentals or use for down payments?

What type of rentals you looking for?

Could get 10-12 properties for cash in the burbs that would gross 8k-10k in rents

You didn't say where the 5 plex is?

Couldn't you find deals in Vegas and stay local?

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where is the 5 plex at?

How much money do you have to start with?

Good luck

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to do what?

How will you be paying them?

what will you be paying them?

Use Craigslist

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Originally posted by @Eric Emerson:

Scott K. It was actually $38,000 total for the 4 properties w/ $8000 spent in repairs. Total money invested $46,000. (3 are rented at $750 and 1 is at $795). Normal brick bungalows in ok areas. I have a short sale that was approved today for $10,000 and closing next week w/ a built in tenant @ $750. I understand it sounds like BS and your entitled to your own opinion. I'm in the city 5 to 6 days a week, maybe one day we can get coffee and discuss it further.

I a all for it. I would like to meet and chat. I am all ears and have an open mind

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Originally posted by @Jay Hinrichs:

@Account Closed

you will find on the lower end that many tenants are one flat tire away from disaster.

the top TK providers figured this out about 5 to 6 years ago and now deal in much nicer stock and inventory.

My MS rentals are all 1400 to 1600 a month.. in a state that has the lowest average income in the US... so I get the top rental pool not the bottom.

LOLOL Jay love it. I have heard the flat tire excuse. Never falis they have problems with payment and all the sudden our lawnmower that we left them turns up missing

1 Vote

I would bet very few in Detroit. 10 years is forever. In Detroit to not have any prolems in 10 yrs would be a miracle.

1 Vote

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All Forum Posts by: Scott K.

Scott K. has started 25 posts and replied 663 times.

Post: Visiting Detriot, MI

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Post: Hoping to connect with individuals who are in Detroit Real Estate

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Post: Buy & Holds Out-of-State Portfolios - Who has been holding for 10+ years?

Post: Buy & Holds Out-of-State Portfolios - Who has been holding for 10+ years?