As a lazy investor, I always look for rentals that would be able to be sold easily because I know that sometime in the future I will want to sell them. For rentals, I don't want to do major work, just paint, carpet and minor repairs, no gut jobs. My guideline for buying is that the monthly rental amount must be 1% or more of the purchase price. Knowing the rental market is key to making it work.
Nice BACKGROUND for a walk and talk ! I’m wondering how YOU feel the market has changed in the city of Detroit ( PROPER ) for the real estate market since you first started out.
@@QuickPropertySolutions I am a real estate buy, and hold investor in Hartford, Connecticut. How I got interested in Detroit ,one of the people who I help get into real estate, bought 4 properties in Detroit. and bought two at the tax auction last year and I was going to bid on a few properties, but I got lazy and didn’t reach back out to you and some realtors that I were going to touch base with and I was going to fly up there before the tax auction that just passed oh my God do you have a Instagram?
@@QuickPropertySolutions reading back your question I did a lot of research and try to figure out the best market to buy and invest in Detroit. I think I did well but I needed someone with on the ground experience like you, but I got lazy as I said and didn’t fly up there. did you bid on any properties at the tax auction?
Hi, Is there anyway you could discuss the process from start to finish? From when you "get the call" for a deal, and then "crunching the numbers", and having "conversations with your construction team", and "discussing numbers with your lender". Another question: How do you find these deals. How many estimates do you get for rehab? I have so many questions, sorry haha! anyway, great content keep it up.
For rental is your cap rate calculated by net profit (after deducting all expenses including property tax, mgmt fee, maintenance etc) divided by total purchase costs including rehab?
Yes, correct. I add in all expenses so everything is added up. Lately I’ve been going above and beyond the rehab by at least 10%. Something always comes up
Great video. Thank you for sharing. Can you do a video about how to calculate the ARV using zillow? Or an easy to use app for free. Thank you, and hope to see you soon!
As a lazy investor, I always look for rentals that would be able to be sold easily because I know that sometime in the future I will want to sell them. For rentals, I don't want to do major work, just paint, carpet and minor repairs, no gut jobs. My guideline for buying is that the monthly rental amount must be 1% or more of the purchase price. Knowing the rental market is key to making it work.
I totally agree. Why buy a cheap house with $50K worth of work. Why not buy fair valued property that needs barely anything or just average renovation
Nice BACKGROUND for a walk and talk ! I’m wondering how YOU feel the market has changed in the city of Detroit ( PROPER ) for the real estate market since you first started out.
Seeing a lot of activity and values are climbing
@@QuickPropertySolutions🙏🏾👌🏾
This is my second video watching you. very informative and great information. Thank you.
Thanks for watching! What’s your experience with the Detroit real estate market? I’d love to hear your thoughts!
@@QuickPropertySolutions I am a real estate buy, and hold investor in Hartford, Connecticut. How I got interested in Detroit ,one of the people who I help get into real estate, bought 4 properties in Detroit. and bought two at the tax auction last year and I was going to bid on a few properties, but I got lazy and didn’t reach back out to you and some realtors that I were going to touch base with and I was going to fly up there before the tax auction that just passed oh my God do you have a Instagram?
@@QuickPropertySolutions reading back your question I did a lot of research and try to figure out the best market to buy and invest in Detroit. I think I did well but I needed someone with on the ground experience like you, but I got lazy as I said and didn’t fly up there. did you bid on any properties at the tax auction?
Yeah I like the information .
Thank you for watching!
Hi, Is there anyway you could discuss the process from start to finish? From when you "get the call" for a deal, and then "crunching the numbers", and having "conversations with your construction team", and "discussing numbers with your lender".
Another question: How do you find these deals. How many estimates do you get for rehab? I have so many questions, sorry haha! anyway, great content keep it up.
I'm actually building a course right now to go over that stuff. Would you be interested in it? You can be my test subject lol.
@@QuickPropertySolutions sign me up
@@QuickPropertySolutions do you have a Instagram?
just purchase in Detroit. hope its not a war zone 😅. I paid 15k. going to message you somewhere for advice
Did I answer your question? I can’t remember.
For rental is your cap rate calculated by net profit (after deducting all expenses including property tax, mgmt fee, maintenance etc) divided by total purchase costs including rehab?
Yes, correct. I add in all expenses so everything is added up. Lately I’ve been going above and beyond the rehab by at least 10%. Something always comes up
@@QuickPropertySolutions tell me about it🤦🏾🙏🏾
Great video. Thank you for sharing. Can you do a video about how to calculate the ARV using zillow? Or an easy to use app for free. Thank you, and hope to see you soon!
Great suggestion! I'll get working on that.
I'm looking here in Detroit
Let me know if you need any help
I bought a duplex in Detroit and it’s been a nightmare lol.. I picked the wrong neighborhood
Which part I should look?
I’m sorry to hear about that! What neighborhood
@@QuickPropertySolutions I have no idea but it’s on ford street
Robert oakmans
How do you know what areas are warzones?
D neighborhoods. A lot of vacant and burnt down houses around it. Values are low as well.
I live in Detroit but I have no money
I’m sorry to hear about that. Do you have work?
Promo`SM 😴
What is 'SM?