All Forum Posts by: Richard Dunlop
Richard Dunlop has started 7 posts and replied 715 times.
Post: DETROIT and MICHIGAN (#1 Defender answers questions)
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Richard Dunlop:
Originally posted by @CK Hwang:
I would say yes, but the bigger question is at what risk? what is your tolerance for risk? As I tell my clients who eye the 15-25% returns in markets like Detroit and upstate NY, it's not whether the returns are there... the question really is whether the risks are worth it to them.
We don't work that cheap!
Rented for $600 0% Vacancy.
4 year tenant was in it when I bought it.
@James Wise said:
"Gotta call you out on this one Rich. What is the point of the post? Working up to a sales pitch or something? You know, I know.....Everybody knows that something like this is not going to be replicated on any sort of scale.
I assume this is some one off you bought at the very bottom of the market and you will admit that results are not typical.
There is not some magic neighborhood in Detroit where there are amazing $600 tenants happily living in $1,200 houses that we can just assume will never have vacancy."
To avoid hijacking the thread that these questions were asked in I'll answer them here since the original thread had nothing to do with Detroit
Post: Is a 15% Cash on Cash Return Realistic Long Term?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @CK Hwang:
I would say yes, but the bigger question is at what risk? what is your tolerance for risk? As I tell my clients who eye the 15-25% returns in markets like Detroit and upstate NY, it's not whether the returns are there... the question really is whether the risks are worth it to them.
We don't work that cheap!
Rented for $600 0% Vacancy.
4 year tenant was in it when I bought it.
Post: Who is the most successful real estate investor in Detroit?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Jeff Rabinowitz:
Dan Gilbert would have to be in the running.
@Jeff Rabinowitz: comes in a close second place.
YOU GOT ME TO LOOK AT YOUR AD By YOUR KEY WORDS THAT HAD NOTHING TO DO WITH YOUR AD.
DO YOU THINK THAT IS BETTER THAN SPAM IN SOME WAY?
Post: Atlanta - 23 leased homes - motivated seller!
- Investor
- Detroit, MI
- Posts 755
- Votes 462
DO YOU THINK YOU GAIN ANYTHING BY PUTTING ALL THESE KEY WORDS IN THAT HAVE NOTHING TO DO WITH YOUR AD???
Post: Atlanta Section 8 Houses
- Investor
- Detroit, MI
- Posts 755
- Votes 462
WHY ALL THE STUPID FLAGS THAT HAVE NOTHING TO DO WITH YOUR AD????
Post: Removing Credit Inquiries from credit report
- Investor
- Detroit, MI
- Posts 755
- Votes 462
If you pull your own credit multiple times it can bump off the hard inquiries from
Equifax and Transunion but not Experian
Post: Canadian interested in Detroit
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Detroit is great but I don't recommend buying as a Turn Key type of purchase.
Here's my answers to some of the questions you may have about DETROIT
Post: MICHIGAN the State most moved FROM in 2015?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Christopher Brainard:
...Nevada is much larger than Michigan, but most of Nevada is federal lands which cannot be built on....
-Christopher
I didn't forget about the nuclear bomb tests your neighbors have done or the nuclear waste dump they keep trying to build, that is why I prefer my neighbors.
Post: MICHIGAN the State most moved FROM in 2015?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Lawrence Henkel III:
Well I'm staying where we have all the fresh water. (With the exception of Flints water system being poisoned by the government) With the crazy weather and all the droughts in other parts of the country I think Michigan looks pretty good.
20% of the world's fresh water.
Hey California we have way more than we need, come get some