All Forum Posts by: Richard Dunlop
Richard Dunlop has started 7 posts and replied 715 times.
Post: Cash on Cash ROI...reality check
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Account Closed:
Originally posted by @Ali Boone:
@Account Closed
@Ali Boone, I invest for profit. Only a fool or someone trying to fool someone would use a Price-to-Rent ratio as a viable metric for real estate investing. Think about it. Why would the market ONLY be willing to pay $100,000 for a possibility to collect $2,000 rent when in a profitable market they would pay $286,000? What is your answer?
@Bob Bowling the people you are scolding are not 1 issue investors, I speculate that they typically invest using several metrics.
I invest in Detroit BECAUSE of the appreciation the Cash Flow is great also. I expect BOTH to be better than anywhere for the foreseeable future.
The question I would ask (Just ONE of many) "Is why would ANYBODY invest in a market where the average weekly wage is lower than Detroit.
Wayne is the County Detroit is in.
Is this the only metric I should use?
Of course not! Taking everything together I'm glad I relocated to Detroit. FROM one of your favorite markets California.
Post: Cash on Cash ROI...reality check
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by :
Post: Cash on Cash ROI...reality check
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Account Closed:
Originally posted by @Ali Boone:
@Account Closed
@Ali Boone, I invest for profit. Only a fool or someone trying to fool someone would use a Price-to-Rent ratio
Post: Real estate market in Detroit
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Detroit has houses better than most every city in the nation!
Detroit also has houses worse than most every city in the nation!
Both within the city limits.
@George P. is in one of the suburbs and says prices don't make sense. I invest in the city and the close in suburbs and wonder why anybody invests anywhere else as I see appreciation higher than anywhere AND cash flow better than anywhere else!
Post: Hello from Livonia, MI!
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Welcome to BP
Post: Real estate market in Detroit
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Quite a few...
Post: Professional Tenants Request Water Test What's The Angle?
- Investor
- Detroit, MI
- Posts 755
- Votes 462
WHAT?
I have bought foreclosed houses with tenants in them. The "professional tenant's" most common trick is to give notice (multiple times if you believe the first one) They almost always try to convince you that they were just in process of moving.
The way to handle this is to politely give them written notice and tell them you know that they are moving anyway so this probably will have little to no effect on them.
Post: First Time Investor Advice
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Johnny Wudwanee:
...What do you guys think? I've looked a bit into San Antonio, Sacramento, Colorado, Detroit...
A world of difference between those choices! I like Detroit if you buy right the appreciation and cash flow are better than anywhere. But tread carefully.
Post: New member in Michigan, from AZ
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Originally posted by @Russell D.:
@Richard_Dunlop I had no idea, that is SO encouraging. I'm originally from AZ and that's the market I fell in love with, when I moved to MI two years ago at first I was not impressed with the market as it it appeared there was a mass exodus taking place in the state. The longer I've lived here the more I've realized that wasn't exactly true and I've seen more opportunity than I had first thought. Thanks for giving me a giant sigh of relief though. That is doing good news indeed!
I know where Prescott Arizona is.
I didn't know there was a Prescott Michigan.
Post: New member in Michigan, from AZ
- Investor
- Detroit, MI
- Posts 755
- Votes 462
Michigan is the market that is the easiest to get started in!