All Forum Posts by: Stephen Lovett
Stephen Lovett has started 5 posts and replied 60 times.
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Originally posted by @Richard Dunlop:
Originally posted by @Stephen Lovett:
Thanks @Richard Dunlop.
Yes. My returns are incredibly good. Better than anything I've heard from other investors. They might even make your head spin.
Careful now this board likes to call Detroit people liars.
They are fretting over their inability to find properties within their 2% rule and don't think it even remotely possible to consider turning down properties that rent for 20% of the all inclusive price.
My deals also make my head spin so I know you are telling the truth.
Can you beat my ALL IN $806 purchase rented for $650 per month?
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
My properties are located in Detroit, Madison Heights and Royal Oak. My 4 most recent acquisitions have an average Cap rate of 39%
Post: duplex deal - need opinions on these numbers
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
No problem @Brian Karlow
I'm happy to be part of this community!
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Thanks @Richard Dunlop
Yes. My returns are incredibly good. Better than anything I've heard from other investors. They might even make your head spin.
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Thanks for the tip @Chaz Reid
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Thanks @Richard Dunlop.
Yes. My returns are incredibly good. Better than anything I've heard from other investors. They might even make your head spin.
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Thanks Scott. I'm familiar with Michigan Real Estate Investors from Meet up. I'm a member of the Oakland County REIA currently, and have yet to attend a Michigan meeting. You're in Madison Heights? I have several rentals there. I love that city!
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Thanks Matt. I'm looking forward to it. Do you know if the Detroit folks do monthly meet-ups? I ran across one from a couple years ago in a search, but haven't been able to find if they're still happening.
Post: duplex deal - need opinions on these numbers
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Are the taxes really $660/month?? If so, that's extremely high and seems to kill the deal from a cash-flow standpoint. The other question is what are you looking for? Monthly cash-flow or long-term debt paydown?
Post: New to BP... Active Investor in Detroit
- Investor
- Royal Oak, MI
- Posts 63
- Votes 20
Greetings everyone! My name is Steve Lovett, and I'm a landlord in Metro-Detroit. I have 8 rentals and have rehab and management experience. I learned about BP initially when listening to Brandon's book on Audible. Then I discovered the podcasts on Stitcher. What an amazing wealth of information! So I HAD to join BP and look forward to interacting with everyone. I invest in a unique area with some amazing returns, and am looking to add some flips to my real estate portfolio this year. I look forward to interacting with the community on this site.