My Buying Criteria for Detroit Real Estate

My Buying Criteria for Detroit Real Estate - Real Estate Investing

Рет қаралды 3,347

Күн бұрын

Пікірлер: 36

@brucebeamon5460 4 ай бұрын

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 4 ай бұрын

Seeing a lot of activity and values are climbing

@menardtexsampson3745 Ай бұрын

@@QuickPropertySolutions🙏🏾👌🏾

@bobruda 4 ай бұрын

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.

@QuickPropertySolutions 4 ай бұрын

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

@menardtexsampson3745 Ай бұрын

This is my second video watching you. very informative and great information. Thank you.

@QuickPropertySolutions Ай бұрын

Thanks for watching! What’s your experience with the Detroit real estate market? I’d love to hear your thoughts!

@menardtexsampson3745 Ай бұрын

@@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?

@menardtexsampson3745 Ай бұрын

@@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?

@LenaMMcKee Ай бұрын

just purchase in Detroit. hope its not a war zone 😅. I paid 15k. going to message you somewhere for advice

@QuickPropertySolutions Ай бұрын

Did I answer your question? I can’t remember.

@adameckhoff7970 3 ай бұрын

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.

@QuickPropertySolutions 3 ай бұрын

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.

@menardtexsampson3745 Ай бұрын

@@QuickPropertySolutions sign me up

@menardtexsampson3745 Ай бұрын

@@QuickPropertySolutions do you have a Instagram?

@ali.tiktib 6 ай бұрын

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!

@QuickPropertySolutions 6 ай бұрын

Great suggestion! I'll get working on that.

@JimmyW-th7bp 6 ай бұрын

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?

@QuickPropertySolutions 6 ай бұрын

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

@menardtexsampson3745 Ай бұрын

@@QuickPropertySolutions tell me about it🤦🏾🙏🏾