All Forum Posts by: Scott K.

Based on the sentence above, it sounds to me like you're saying you don't have time to be doing more than one deal because one deal takes up too much time. But, that was the exact point of my post above -- if you hired out all the stuff you do yourself on that one deal, you'd have more time to do simultaneous deals (and raise money for them, if needed).

I think you just made my point for me... :-)

No I was saying that my wife would kill me if I tried to do more than one deal at a time. I have to prove and show her this is the way to build wealth.

She has a stable career and I need to show her how we can profit from doing this.

My goal is to get up to 4 a year. I wish I could just look for deals and hire everything out. Truth be told I sure do enjoy the hell out of creating a nice property out of crap.

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One thing for the guys that always say your time is worth more than $$$$$$.

There are many of us that have to do one at a time. And we need to make as much money as possible on each property. I will and do most of the work that I can do myself.

Plumbing, heating and cooling, electrical, roofs, and drywall finishing are for the pros

Demo, hanging cabinets, painting, hanging drywall, some flooring, and other things I can do myself.

So while I agree for guys like @J Scott and the others that it doesn't make sense to be doing some painting.

I am always looking for more deals but I can only do so much at one time. The wife won't let me "retire" yet and do this full time

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Originally posted by @Jeryl Johnson:

Hey Scott, Its great to have this dialogue. You are right also. Detroit has some real dumps or as you say hell holes, I agree 100%. But lets not scare away everyone by making them think that you cannot go anywhere in the city. Obviously as an inspector you've probably seen some great areas too all im saying is lets put it all out there bad and good. Im a real estate agent in a novi office actually so I claim Detroit and the suburbs as my home. I'm here to learn from all of you seasoned investors and I'm too green to pull the trigger on investing at this time which is why I'm here and jumping into these conversations. I appreciate your response

Hard to believe that Indian Village has not made a huge comeback. Indian village is filled with renters and those houses are falling apart, Boston Edison is the same thing. I mostly go to Warrendale and Rosedale Park. The eastside is completely destroyed at this point.

Do a search for topics on Detroit. LOL The BP'ers just love to think we all live in the ghetto.

I like Novi a very nice city. My goal is to get out to Northville and live close to the downtown area.

Glad you are here, I will be going to the next Detroit area meet up. Please try to join us.

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I am already looking for commercial warehouses for this very reason.

It is only a matter of time that this is going to be legal to do. I want to be ready to go when this happens. I figure between the properties and the pot I could stop working a real job.

Wait till all these states sees all that tax money that comes with this. Also all the money saved from not having to waste time on busting people for pot. How stupid to bust people over a plant.

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Originally posted by @Jeryl Johnson:

Hi guys I am a newbie here at Bigger Pockets and I am really shaking my head laughing at all the people afraid of Detroit. Really people you better wake up. I live in the heart of downtown and this is a very diverse area. Many of the white and black people who live here have chosen to do so. Its not Beirut and also remember you better pray that Detroit perks up because a lot of your clients have day jobs in the city and need the money to live in the suburbs and also if your neighbor(Detroit) has rats, so to speak eventually you(your City) will too. And just for chuckles and giggles if you'd like to take a tour, I promise I'll hold your hand and won't let go. Don't be mad at this post its only my perspective.

Jeryl that's not really fair also. Detroit is a hellhole in the outer neighborhoods. Fenkell and Wyoming the entire eastside. Anywhere off the Davison is a warzone. You live in an area that people choose to live there.

I go into the neighborhoods people would never even think about. As a HUD inspector I have to inspect those properties that are boarded up and have been destroyed with the scrappers and squatters.

I will defend Detroit and I will also rip on Detroit. I have been shot at 4 times, robbed at gunpoint, found a dead guy in the basement with 2 shots to the back of his head. So I speak from seeing it with my own 2 eyes.

As an investor I hope you don't plan on Detroit being the area you start with. Now when the deals are in the burbs with 8-900 for a reantal that cost 40k

good luck

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Wow do you get to keep everything in the garage? Looks like a person that had a lot of tools.

Is that a 4 wheeler or a lawnmower lol

looks good

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Originally posted by @Bryan H.:

Hi Nick Keesee Homes in Eastpointe, north of 9 mile. I'm looking at 3 bed, 1 bath, garage, finished basement, a/c, brick homes at around $40k that will get $900. Madison Heights same thing, just less inventory. If you want to go up to $50k, you can get $900+ in St Clair Shores.

A brick 3/1/2 with finished basement in Madison Heights???????????? Sorry but that is not going to happen. I could not even sniff that at the tax auction last year. There are some deals out there but not that 3/1 bricks in the heights that don't need lots of work

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Originally posted by @Andy Luick:

@Bryan H. - I'm confused are your rentals in NC or Detroit..or both? The first deals sounds like a gem but it also sounds like it's in Detroit. We see some deals in the 30s here but, like most, they are $30k rehabs. Most of what we are buying are all in for $50k to $80k and are producing net rents of $1,000 to $2,000 a month after all expenses. Happy Investing!

He's not IN Detroit. Just around it.

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Originally posted by @Account Closed:

I hear inner city Detroit is also lovely this time of year.

yes we have had over 5ft of snow and crime is still high.

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Originally posted by @Jay Hinrichs:

@David Krulac @Matt R. just be in Detroit on Devils night and you will get the drift

come on now. Its not as bad as it used to be. Its still bad compared to civilized cities though.

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All Forum Posts by: Scott K.

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

Post: SFR: Subcontract Rehab or Do It Yourself

Post: SFR: Subcontract Rehab or Do It Yourself

Post: Just picked up a Condo for $14k

Post: Michigan Medical Marihuana landlord rights

Post: Just picked up a Condo for $14k

Post: Just picked up my Second flip! pics and details.

Post: Going to see some growth in 2014!

Post: Going to see some growth in 2014!

Post: Does anyone invest in Camden, NJ?

Post: Detroit to tear down 450 houses every WEEK!