b p

I'm a:	Real Estate Professional
Location:	New York

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b p's Answers (7)

Agent needed to buy investment property

Asked Wed Jul 30 2008, 09:42 by Andreas Joha… - Detroit - Home Buying - 6 answers

b p answered:

yes - you can certainly buy "dirt cheap" in detroit (that's the market I know, vs the Buffalo area) these days, eg, for as little as $500 -but, like everything else, you get what you pay for
obviously, a $500 house will need a lot of work, more than several thousand, to get it livable...vs a house for, say, $15,000, which might be in move-in condition, short of carpeting and a paint job, for instance

maybe, instead, target how much you want to invest in total per property, than I can show you duplexes that are either rentable now, or need little work to stay in that budget

what size apts are you looking for? what rent are you targeting?
give me some answers so I can help you move forward
manhattangroupdev@yahoo.com - Sat Aug 2 2008, 13:49

Question removed

Asked Thu Feb 21 2008, 13:30 by M Hyde - 48223 - Home Buying - 9 answers

b p answered:

how much are you looking to spend or can you afford every month?
do you have funds for a minimal down payment - how much, generally?
how big a house: 1-2-3 bedrooms, 1-2 bathrooms, renovated, brick/ fame, garage??
how many years would you like the land contract to last for?
what is your credit, generally: excellent/ good/ poor?
do you have a lot of other bills every month?

give me some answers, so I can help you
I have some properties available for you to consider in those neighborhoods
manhattangroupdev@yahoo.com - Sat Aug 2 2008, 13:36

I'm an out-of-state investor who had no problem buying in Detroit but can't get money back out. I've a few

Asked Mon Jul 28 2008, 10:30 by Al - 48224 - Financing - 3 answers

b p answered:

how many properties are you talking about? how much in value? what loan amount are you looking for? do you have current / solid appraisals?
do you want a blanket loan, or individual mortgages? are the props owned free and clear now? what - condition are they in livable - or needing some work?
are they rented? what is the cash flow like? what is the mid-fico?
are they owned personally, or in an llc/ corp?
let me know - I have sources for this - but you're probably looking at hard money for n/o/o props in detroit these days
manhattangroupdev@yahoo.com - Sat Aug 2 2008, 13:27

I need a hard money lender to provide an LOI for a housing development in Detroit City. City has committed

Asked Mon Jul 28 2008, 09:35 by Goran Marich - Detroit - Financing - 4 answers

b p answered:

way too many questions to give an answer, yet, but I have sources for this when I get a better understanding:
why go hard money at all? what do you mean by "well-supported" by the city - financially, or just politically?
where is the other $5MM coming from for the $10MM phase 1 = construction??
how long do you see the need to use the money?
is the land owned by the developer? any liens on the propeprty?
dos the property need infrastructure - or is it in the city, ready for construction?
status of building permits? what type of housing?
where is the equity coming from? - how much?
where's the take-out coming from to pay-off the hm lender?
let me know so I can help you
manhattangroupdev@yahoo.com - Sat Aug 2 2008, 13:20

I'm an Detroit, Michigan property investor who is looking for a list of hard Money lenders.

Asked Thu Aug 23 2007, 14:37 by David - Detroit - Financing - 7 answers

b p answered:

let me know what your scenario is:
how much are you looking to borrow?
what ltv, are you putting cash in?
what's your mid-fico?
I have some good sources for this
manhattangroupdev@yahoo.com - Sat Aug 2 2008, 13:13

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