All Forum Posts by: Scott K.

hmmmmmmm 30k invested for 3k in rents.  Prove it.  What area's are these in?  Are you telling me you think long term those properties will always return at that rate.  Now way.

4 properties for 7500 each and you think you are going to get 3k in rent.  HAHAHAHAHAHAHAHAHAHAHA  You know I am from the Detroit area right?

I call BS.  My meter is going off.  The alarms are blasting with this BS 

well for rentalsI am one of them that is not a fan of Detroit.  I just don't see the need to deal with Detroit in that way.

You can still get properties in the burbs for 30k or so and rent for 800 without the hassles of the city.

Just think one real bad tenant not paying and completely trashing your property wipes out years of profit.  No thanks 

What new manufacturing jobs???????????????

What is your price range??????????

Have you ever been here???????????/

Do you want to come visit???????????

Why do people always talk about downtown?  You will never have the access to those properties.  There are area's that are good for flips.  I would flip in the city and buy and hold in the burbs.

I agree with this.  He said price a 100k property for 30k.  That's what I call BS on.  Multiple offers are fine and asking for final and best is all good.  But to run up the price to that level you would have to be shaddy end give out info that you shouldn't.  I hae lost properties with the final and best and the agent has never ever told me what I needed to beat.

So you list it at 90k.  I offer all cash at 90k and close in 2 weeks.  How can you not legally have to take that offer.  Even if you get 1 other person interested in the property the chances of a bidding war going all the way to 180k is not going to happen.

I call BS.

The is Bigger Pockets and we like proof with all the wild claims made on here.

well you got some big issues with this one.

In the next 5 years you will need a roof.  Also 2 furnaces.  

Sounds like Unit 1 will need about 3k in refreshing.

So 120k total for 825 a month.

That 825 will cover the cost for the finance, insurance, taxes.

But be prepared to write some fat checks.

How long you plan on living there?

Are you married?

Kids?

more info please

 I am reliable.  I just gave a great tour to 2 New York guys.  They will be back and are ready to get started investing in the Metro Detroit area.

Come on in and I'll give you a tour also.  The good the bad and the worse is what I will show you.  The burbs to the north is a great place to invest. 

Come on in.  Let me know.  I can refer you to the investors I just met.  I enjoy showing people the great area's around and in Detroit 

You got all those Multi's right there in your city on Coolidge.  San Diego will be a very high price point.

Don't leave, we need people like you willing to invest in the area

good luck either way

It says you are from Detroit.  But the property was in Detroit and you didn't go see it?

I am getting into doing this very sort of thing.  Don't rely on a realitor.  Get a 3rd party and have them do it.  Get someone that knows the area and can also tell you what the rents are going for.  Also show the rest of the neighborhood.  You know how the realitors just love the tight shots of the house