All Forum Posts by: Scott K.

Its in the city I grew up in and I also own a property there.

I have already done a walk around to take a look to see if it was worth it to take a look at it.

Its a 2 family home single floor house. Have not seen any of these in this city. Hell I have never even noticed this house was a 2 family till I walked in the backyard.

Sales lady said it needs a roof and other work.

I see it needs new exterior doors and storm doors

needs some new windows. Mismatch of windows some old wood and the rest are newer and passable.

Siding looks to be a mess (missing some all over the exterior).

That's just to start.

I will have my camera with me and electrical tester with me.

Is there anything else that I could check.

It has separate gas and electric so that's a good start.

I agree I would never spend money on that garbage. I just didn't know they were selling themselves until I heard it on the radio. That's all I was saying.

Hello All.

This story will be about how my dad turned 8k into his way to freedom.

About 30 years ago my Grandmother passed and my dad got 8k from a secret account my grandmother set up for him. She new he would get screwed so this is how she did it.

My parents were simple people. My dad moved to Detroit area from Buffalo and my Mom grew up very poor. Both were just regular working folks. Dad in a shop and Mom drove bus so she would be home with the kids in the summer. Anyway how many times have we seen poor people get a bit of cash and just waste it?

Hell my mom must of thought she hit the lottery. They didn't take a vacation or waste it on a car or any other garbage that poor people do. He found his very first investment property.

He got a duplex that also had a servants house in the backyard in a very nice city (royal oak) north of Detroit. Got it on land contract for a total of 68K. For many years he managed and did all the work on it himself. He added another house that was next to the house we lived in. Again he added 2 more duplexes soon after.

So his 1st investment he got a 3 income property. That property that he still has and has invested a good chunk of money over the years is free and clear and now is worth 300k easy.

The 2 other duplexes he paid off and sold them many years later to have a very very nice profit.

The point I am trying to get across is he had a dream and a plan. He could of went on vacation or bought a new car. He could have lived in a better house but he didn't. He kept his eye on the prize and kept moving forward. Even when he was breaking even he was getting ahead.

Out of all those properties the one that I grew up in was the worse one he owned.

Now he is sitting up north in his cabin on the lake and he goes fishing or golfing everyday in the summer and sits out on the deck still smoking his cheap cigars and cheap beer.

That is my inspiration and also shows me that when people try to put doubt into what you want to do you pay them no attention and keep moving forward.

Also nothing wrong with dreaming but you also need some doing to get anywhere.

Scott

buy it and raise the rent. They have gotten a free ride long enough. What city is this in?

Oooops You are correct Ann. So many of those damn shows.

Hell they wanted a good show should have shown My brother and I working with our Dad on all his properties. HAHAHAHA now that would have been a show. A poor person living in a dumpy house while renting out nice flats

Oh I would never ever consider going to that seminar. I used all the code words for ********. "looking only for the few special people", "limited seating"

HAHAHAHAHA can't stand these types of people

I live in Detroit area and I am hearing this guy selling his system. You know the way it goes.

We need those few special people.

Limited seating available, hurry and call now to save you a seat to real estate riches.

Has anyone ever looked into these guys?

People these guys drive me crazy with all this garbage they spew.

Aw yes Shack town as they call it. I know that area very well. I would not invest in that area as I don't see it getting any better there. There is no industry in the area to try to drive the prices up at all.

Also people that are not from here always say there is great opportunity in Detroit just does not understand how bad that city is. There are only 4 sections of the city that is worth anything at all. Downtown, Midtown, Palmer Park, and Indian Village. Indian Village is getting worse not better.

You need to get to the northern section of that city. I have many houses that I go to in that area. The closer you can get to Livonia or Canton the better. Anything close to Inkster is a for sure NO!!!!!!!!!!!!!!!!!!!!!!!!!. That city is a dump and is never coming back. EVER!!!!!!!!!!!!!!!!!!!

mostly would like to flip but also want to have some rentals. The property I have now was a great deal and could rent for 900.

I need to find another rental for another family member that needs out of her apartment

please be advised that HUD contracts out almost all the inspections and it would not have to be HUD themselves to check on this. One phone call would be all it would take to get this checked out