All Forum Posts by: Venkat M.

Thanks @Drew Sygit for your valuable suggestion. Will look into the neighborhoods you suggested.

Thanks @Joe Hammel, I am from out of state, and this is my first investment, so probably playing it safe and not interested in taking on work now. Mostly looking for moving ready condos in an area where i can fetch decent rent.

Hi., I am looking to but my first investment home. Which deal would you prefer. Both condos.

Condo 1:

Sale price: 88K

HOA: 260

Expected rent: 950

3rd floor. New carpet and hardwood floor but bathroom and appliances are outdates. Washer dryer in unit. 

Condo 2:

Sale price: 110K

HOA: 280

Expected rent: 1150

1st floor. Newly upgraded with brand new appliances . Ready to rent from Day1.Shared washer dryer in Building.

@Joe Hammel definitely a buy and hold. Since I am out of state mostly thinking to go for a small condo (low maintenance) to start with. Any other neighborhoods you recommend i should look into? 

@Drew Sygit Cash flow is the goal. 

@Joe Villeneuve Why do you think these are completely different markets. I lived in the area before and feel comfortable with the area. Starting with these 4 but may expand to surrounding cities. 

Hi All, This is a great forum. I am new here and looking to buy my first rental in suburban Detroit (Farmington, Southfield, Novi, Birmingham). Looking to connect with others who are familiar with the area.