All Forum Posts by: Travis Andres

@Alyssa Magyar I'm also trying to set up a townhome for a STR/MTR blend; at least that was the plan. The property is in Chesapeake VA and dealing with the city as far as STR's has not been fun so far. So now I think I'm going to focus solely on the MTR strategy and see how it goes. I was hoping to do both so that I would have options. Anyway, I use Hospitable for my other STR and like it. I'm planning to use Furnished Finder and Avail for the MTR. I researched all of the different ones available and for the cost/features I thought Avail was the best. Good luck with your place!

Metro Detroit has what 99% of Real Estate Investors want. 

I personally make over $100k/yr cash flow from 16 properties here. All of which, I’ve purchased only within the last 4 years.

Couple hundred bucks a door monthly cash flow, double digit ROI, and yes the prices appreciate and you build equity.

I cash flow $100k a year off 20 doors and have built a ton of equity in a short amount of time. Happy to send a screen shot of the portfolio to anyone who wants to see, it just won’t allow me to attach pics to a reply.

Purchase: $80k-$130k

Rent: $1100-$1500 (no rent control in MI)

1% rule: 1%-1.4% rule deals

ROI: 10-14%

Cash flow: $250-$350/door (after all expenses and budgeting for maint, capex, vacancy)

Appreciation: 3-10%+ (has been double digit for a decade)

Location: C+, B-

These numbers are based on the "sweet spot" in Metro Detroit. These are largely in the suburbs and some markets within the city. You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases. Where these numbers are found, there is a very high rate of rent actually being paid.

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints. Ford, Rocket mortgage, Beaumont hospitals and more. All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation of “Detroit” comes from OOS investors wanting sub $40,000, D class properties. We don’t buy those. We have found what works and repeat it as much as funds allow. Detroit is known as the highest rent to price ratio in the country…and we’ve found the perfect balance of price/location within the area.

Here is a picture of my portfolio..I also have a couple youtube videos where I talk through the numbers and how I found all of them.

Travis, I sent a message on here with more info.  I hope I did it correctly.

@Kristina Krich if you want a market with a population growing at 6% annually I would recommend new builds in Casa Grande, AZ. These cost $290-320k and rent for $1700-1900, put 30% down and it will cash flow break even in year one, you will also have to spend about $8-12k per property in landscape, appliances, fans, blinds. We have super low property taxes and insurance (combine about $2k per year), and we are a landlord friendly state. You will have basically no cap ex or maintenance expense and will be able to raise rents by the time any of these expenses start. The builders offer credits to buy the rate down, so these make sense. Rents and property values will continue to increase here as our population is increasing and good paying jobs continue to move to this area. Full disclosure, I help investors with this exact strategy and I manage the properties for them as well, so I make it super easy.

I have an 8 unit in Texas on Lake Conroe, recently renovated and ready to go! STR potential in Neighborhood. Great area, lots of amenities, located inside a lakefront community.

 If you have your property listed on Airbnb, join your local host community and get hyper-local recommendations.

https://community.withairbnb.com/t5/Local-Host-Clubs/ct-p/en...