All Forum Posts by: Richard Dunlop
Richard Dunlop has started 7 posts and replied 715 times.
Post: $15 per Hour Minimum Wage Effects?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Are you thinking there is any possibility
of Real Estate prices going up with 50% unemployment?
Post: A good real estate attorney in Michigan
- Investor
- Detroit, MI
- Posts 755
- Votes 462
@Ray Foley is a real estate attorney that is a member here on BP
Post: What am I missing in Detroit turnkey?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Eric La Pratt:
I'm frankly so tired of sifting through the "Detroit sooooo is/isn't a war zone" tug of war. Is there a person on this planet who has not heard of the horror or comeback stories by now? Everyone is right in this debate: Detroit is and is not a war zone. Great. Can we move away from this constant low hanging fruit... or whatever fruit is left? Let's get some substance and talk specifics.
...sorry for the digress!
Detroit and Chicago are quite alike:
Both are about 2 years away from bankruptcy-
Detroit 2 years past no longer has Damocles sword hanging overhead.
Chicago 2 years future IT's still coming and you don't know when.
Both have high crime rates:
Detroit Murder rate is going down
Chicago murder rate is going up
Detroit has houses worse than most cities in the country BUT it also has houses better than most cities in the country all inside Detroit city limits.
Post: What am I missing in Detroit turnkey?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Javier Gaillard:
I can't find a market where you will break even in less than 3 years just renting the property.
I prefer the ones that Break Even in less than 3 months.
But this thread is about TurnKey and I don't advise buying TK in Detroit.
Why pay $50,000 to buy the house next door to the one I bought for $3000?
Post: SAN CLEMENTE CA - OCEAN VIEWS - NEW -MODERN STYLE - ELEVATOR
- Investor
- Detroit, MI
- Posts 755
- Votes 462
I do miss Orange County in the winter time!
Beautiful View
Post: Alternatives to Turnkey Investing?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Cailyn Aune:
So another question.... Would you the alternatives be superior to the turnkey model... Based on what I'm asking in the top post?
Back a partner on the ground.
Maybe back one of these turn key companies WHEN they are buying the house instead of buying it from them when they mark it up.
There are alternatives that are superior to Turnkey.
Post: Real Estate Agent/ Investor in Miami
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Jonathan Rutledge:
im in michigan would you purchase homes in this state?
The very best returns of anywhere! Why would you not.
Highest cash flow AND highest appreciation!
Post: New to Real Estate Investing - Turnkey
- Investor
- Detroit, MI
- Posts 755
- Votes 462
@Juan LozanoI flagged him for you. Hold down shift key type @ and the first few letters then select him from the list at the bottom.
Post: Historic Virginia Park/New Center Detroit, MI
- Investor
- Detroit, MI
- Posts 755
- Votes 462
WHAT is it?
Post: Closed today... and 203k rehab begins
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Justin Morris:
@Eric La Prattcongratulations that is amazing, I wanted to ask you about the Detroit duplex you bought. How did you come across that deal and how did you pay for it? With your own money? Is Detroit rebounding now and is at a point where buying a rental property there is lucritive? Thanks
Better than anything you could even imagine.