Hello, my name is Anthony and I am a retired Canadian gentleman. I am interested in the Detroit area residential sales of low priced homes. I need ...

Asked by Anthony Higgs, Detroit, MI Sun Mar 24, 2013

... information so I can enter into my first deal with confidence.

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13
Russ Ravary, Agent, Commerce Township, MI
Mon Mar 25, 2013
My opinion for all out of state investors and out of country investors. You might as well take your money and invest it where you can manage it. It is very risky to invest out of state especially if you have no experience I real estate investing
1 vote
Delores Good…, Agent, Detroit, MI
Sun Mar 24, 2013
Hello Anthony. I am a real Detroit agent, that live and work in Detroit. Call me for all your real estate needs. Delores 313-575-2336 Frontpagerealtydetroit.com
1 vote
Pam Sawyer, Agent, Shelby Twp, MI
Sun Mar 24, 2013
Anthony,

I have buyer inforamtion on my website...Please visit http://www.pamsawyer.com and call my cell with any questions you may have at 248-343-2459....Thank You
1 vote
lastartaylor, Home Owner, Detroit, MI
Thu Jan 1, 2015
Hello, I have for sale, a beautiful 2 Story brick colonial with many beautiful features, good roof, partially finished basement, 3 large bedrooms with walk in closets, beautiful hardwood floors, 2 car garage, large backyard with pond. I think you may be interested in. This home is a must see, call (586) 439-8400 to schedule viewing. Home is near police station, schools and major freeway. This would be a perfect home or investment property. See link below. Thank you!!!!!

http://www.zillow.com/homedetails/11511-Kenmoor-St-Detroit-M…
0 votes
Nesahn Robin…, Agent, SOUTHFIELD, MI
Thu Jun 19, 2014
If your still in need of a agent please give me a call!
248 395-6885
0 votes
Aaron B. Lew…, Agent, Detroit, MI
Sat Apr 20, 2013
Anthony,

Glad to hear you are considering investing in the Detroit area.

I am going to connect you with a client of mine who (a fellow Canadian :-) I have advised on investing in Detroit for the past 2-3 years.

Who better to give you the real deal, then your Canadian brethren.

shoot me your email
aaronblewis@gmail.com

I am a full-time investor- ALL DETROIT
0 votes
Sandra Reed-…, Home Buyer, Farmington Hills, MI
Tue Apr 16, 2013
Detroit is a AWESOME market! If you don't believe it ride up and down the streets and don't look at the homes look at the all the investors looking at the homes...You will know them because it will be very obvious they do not live there! This will put all your doubts aside. Call us if you need help we at Wholesale Property Exchange, know Detroit like the back of our hands. We love it here and we live here. Give us a call 313-971-3371 you'll be glad you did.
0 votes
Sandra Reed-…, Home Buyer, Farmington Hills, MI
Tue Apr 16, 2013
We would love to help call us today 313-971-3371 Sandra Reed-Gibson
0 votes
LaDonna Terr…, Agent, Grosse Pointe Farms, MI
Sat Mar 30, 2013
LADONNA TERRELL, BROKER
EASTSIDEREALTY@HOTMAIL.COM
313-459-2937
http://WWW.EASTSIDEREALTYDETROIT.COM
0 votes
Bob Schweiss, Agent, Livonia, MI
Fri Mar 29, 2013
Hi Anthony,

Detroit is still a very good market it does take some time to find the right area to invest in. There are some great pockets with very good tenants. I current purchase properties for different groups of investors. The model that i work with gives the investor a solid 12-15% ROI. The properties are rehabbed and city inspected. All properties are rented can show rent rolls. The taxes need to be inline, all properties are insured and professional managed.

If i can be of assistance please contact me.

Thanks
Bob Schweiss
(313)779-6188
0 votes
Ian Watts, Agent, Detroit, MI
Mon Mar 25, 2013
...continued from last post...


Key #3 No investment is guaranteed. While there are ways to increase the likelihood of realizing the returns that you expect, there is no guarantee. Yes, there are government programs such as Section 8 which pay the major portion of the rent for tenants, but even this is not guaranteed. A tenant can still move. Although it is unlikely, it is still a possibility. There are many companies that offer first year rental guarantees. If these companies are legitimate, they should escrow these funds with a licensed title agency. But, please know that you have paid for this in the form of a higher priced investment property.

Key #4 Protect yourself from liability. If you are going to invest in Detroit properties (or any properties), you have to establish the proper legal structure and maintain the proper insurances. This is a business. And, like any successful business, you want to have things structured properly. It is much easier to establish things right the first time. There is legitimate liability involved in owning investment properties. And, you can still make great returns while establishing the proper legal structure and maintaining the proper insurance coverage.

Key #5 Choose the right local investment partner. If you choose the right local investment partner much of your investment risks can be avoided. They should have a team of local experts including, but not limited to, the following: Attorney, Accountant, Licensed Real Estate Broker, Licensed Property Manager, Licensed Title (Escrow/Closing) Agency, Insurance Agent, and a Banker. This team will help guide you through every detail of the investment process. If you are new to investing in Detroit and plan to purchase multiple properties, you should strongly consider visiting with your local investment partner. There is no substitute for establishing the right relationships. So, if you are serious about investing in Detroit cash flow properties and don’t have a strong referral from a trusted source, it is worth taking a trip to ensure that you are making the right investment partner decision.




At all costs, avoid companies that seem to be too interested in quickly selling you as many properties as possible. Too many international investors are being taken advantage of by scammers who pressure investors into fraudulently purchasing properties which have resulted in major financial losses. If you are an international investor who doesn’t want to experience the death of your investment when purchasing Detroit cash flow properties, please consider the keys mentioned above. Detroit is one of the best places to invest in the world for informed investors with the right expectations and team.

Ian Watts is a Real Estate Investment Broker who built a multimillion dollar real estate portfolio by the age of 26. Ian is a trusted advisor and helps national and international investors achieve their financial goals through real estate investments. He helps his clients invest in fully remodeled, tenanted and professionally managed properties in Detroit, Michigan, USA.




Ian Watts

Your Detroit Real Estate Investment Partner

http://www.piersonandcompany.com | iwatts@piersonandcompany.com | 800-374-54​70
0 votes
Ian Watts, Agent, Detroit, MI
Mon Mar 25, 2013
Hi Anthony,

To best be of service, I would need to understand a bit more about your goals. However, in the event that you and I don't connect, below is a recent blog post that I have written that may prove helpful.

International Investors - 5 Major Keys to Investing in Detroit Cash Flow Properties

Detroit is one the best places to invest in turn-key homes in the world. Both national and international investors are flocking to Detroit because of the great returns that can be made on cash flow properties. However, with great opportunities, there are also great risks. Because the opportunity is so great, scammers are lining up to take advantage of novice international investors. The following is a list of 5 Major Keys to consider when investing in Detroit properties so that your international investment dreams don’t die:

Key #1 If it sounds too good to be true, trust your instinct, it probably is. If you are offered properties that promise returns that exceed 20%, there is probably a problem. Yes, there are outstanding opportunities in Detroit. However, the average annual returns that you should expect should be between 12%-18%. Based on rental rates in solid areas, you will probably be paying $38,000-$52,000 per property. Homes that are less than this are likely in much less desirable areas that you should stay away from. They aren’t worth the headache.

Key #2 Factor in a vacancy and maintenance rate. Unlike investing in the stock market, homes require physical maintenance and sometimes even well screened tenants don’t work out. Both of these things need to be considered when you are factoring your returns. Even with a great tenant and a well rehabbed home, you should still factor a vacancy and maintenance rate into your monthly expense margin. Some investors are very conservative and factor in as much as 20% of gross monthly rent for vacancy and maintenance rates. Others establish a vacancy and maintenance reserve when purchasing the home and replenish it with annual profits if either is needed. Whichever you decide, just be sure to factor this. This way, if you have to spend additional money for any reason, you can use your reserve. And, this reserve is regularly being replenished by funds that have already been accounted for. When adding a vacancy rate, annual returns aren’t as high as many companies may advertise online, but the returns are still solid and it just makes good business sense.

...continued in next post
0 votes
Hello, I have for sale, a beautiful 2 Story brick colonial with many beautiful features, good roof, partially finished basement, 3 large bedrooms with walk in closets, beautiful hardwood floors, 2 car garage, large backyard with pond. I think you may be interested in. This home is a must see, call (586) 439-8400 to schedule viewing. Home is near police station, schools and major freeway. This would be a perfect home or investment property. See link below. Thank you!!!!!

http://www.zillow.com/homedetails/11511-Kenmoor-St-Detroit-MI-48205/88644816_zpid/
Flag Thu Jan 1, 2015
Guy Gailliard, Agent, Southfield, MI
Sun Mar 24, 2013
Good Morning Anthony,

I would be more than happy to assist you in obtaining properties in Detroit. There are several questions that need to be answered so that I know how to best help you. Feel free to contact me so that we can discuss a plan to best he you with your goals.

Best Regards,

Guy Gailliard
http://www.metrodetroitdetroitcashflow.com
http://www.facebook.com/detroitcashflow
guy@metrodetroitcashflow.com
313-332-9955
0 votes
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