It depends if you are a US citizen or a foreigner. If you are foreigner and it's your first investment it takes a while to get property on your name. Some of the things that need to be done is setting up a company, get a registered agent and get a bank account.
When these things are in place you are good to go.
I strongly advise to buy your property with a warranty deed. Some times the seller hasn't got all the paper work ready after buying a property from the tax auction to get the warranty deed. Then it can take a few months to get everything processed.
If the paper work is ready it could be done in 2 weeks.
Are you looking for investment properties in Bagley or Grandmont-Rosedale send me an email firstname.lastname@example.org we have properties available that are generating an income.
It really depends on so many different factors, like location, price, type of rental and management ability to turn it.
I would said on an average in your area currently 1 or 2 months. (only my opinion )
I think it can work, but doing it yourself is cheaper. but more work and you need a real solid management agents. which is where I am find it difficult to find a a good agent. Rent levels published are not what we are achieving. $900 per month has not been possible, more like averaging $700.
there doesnt seem to be any timely payments, to many voids and evictions.... more
Hello, I am glad to here you are buying here in Detroit, welcome! There are particular areas where you can really find something great. First I can start with some good zip codes. 48219,48221, 48223, 48228, 48235, 48239. Those zip codes are on the westside of the city. What you have to do is have somene to find you a specific home at that price in those area. That is exactly what we do here. We do the leg-work for in-state an out-of-state investors. E-mail us at email@example.com to discuss our free service. Our phone number is 313-449-9500. Fill free to call us anytime,day or night.
Research on a neighborhood and local communities can be conducted in number of ways.
Driving through the neighborhood at different times of the day and night, observing activity around the houses is an excellent method. The mood of a street can change from mid-afternoon to the evening.
Inquiring with the local police on their activities in the area is the best gage of crime.
Donâ€™t forget to check with the EMT service also, and ask how often they are called for non-health related issues (fights, assaults, etc.)
Web sites that help in researching neighborhoods:
One way to check for residents of the neighborhood that may have
questionable backgrounds is to do a street search for sex offenders on this site:
for real estate questions, contact:
REAL ESTATE AND FINANCE IN ONE
34 S. Telegraph Rd
Waterford, MI 48328
Office (248) 886-0000... more
I would be concerned about the safety of any equipment that would be left on site. Please get a hold of the GRDC that is th Grandmont Rosedale Develpoment corp. This is a collection of the five homeowner assc. in the area. They have had a grant program to help people in the area rehab their homes and I have been fortunate to be working with them as a sales consultant for Kearns Brothers, Inc. This is one of the best homeowner assc. out there and they look after their own. They patrol their neighborhoods and that is why you should contact them with your plans. If you need any help rounding up people in the area please feel free to call on me. Paul... more