I am considering of purchasing an investment property in Detroit but is unsure of going through an investment company .Do they work?

Asked by Beverley Mullings, Birmingham, MI Mon Oct 1, 2012

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Property, Home Buyer, Detroit, MI
Sun Oct 14, 2012
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.
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I was told by this management company that achieving $700 per month maybe possible but not in excess.
Flag Sun Oct 14, 2012
Thanks for the advice.The experience you encountered has assisted me to make informed decision.
Flag Sun Oct 14, 2012
homepartners…, , West Bloomfield, MI
Sun Oct 14, 2012
Hello Beverley, Still considering the purchase of investment property? I have a viable commercial opportunity available. I’ve recently had the opportunity to view property suited for capitalization. This property, a 24,000 SF structure nested on 59 acres has been listed as-is and will require interior / exterior improvements with an estimated cost of $800K. The property can be secured under land contract terms for $650K @6% with an initial down payment of $150K.

I speculate the acquisition of property with three objectives in mind: (A) Acquire through foreclosure auction and immediately re-sale to open market for profit (Buy-to-Let), (B) acquire for renovation and hence re-sale to open market for added profit, and (C) acquire for renovation and structuring of revenue generating businesses for long-term investment returns. For this opportunity, objective (C) will be utilized.

Financial Investment Requirements

Required Amount: $1,500,000
Minimum Investment: $250,000
Industry 1: Entertainment
Industry 2: Hospitality, Banquet Facilities, Restaurants & Bars
Company/Product Stage: Business Start-Up
Collateral Asset: Expected Property Appraisal of $2.5 Million (ROI of .65%)
Investor Role: Open
Investment Reason (s): Property Purchase, Renovations, Equipment, Furnishings, Business Capital

Provided you share an interest in this type of investment, together we can make this happen with great returns. Let's talk. Contact initially via email at homepartnerscorp@yahoo.com
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interestedpa…, , Detroit, MI
Wed Oct 3, 2012
Hi. are you the same Tom Smith that was NSUK? The one that the Wayne County sheriffs dept are looking into?
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Thomas Smith, , Detroit, MI
Tue Oct 2, 2012
Hello Mrs. Mullings

I would suggest that you definitely use a real estate investment company, be it with us or another company. You might think you are paying a little more but when its all completed you will be very happy working through a company that has the experience and track record.

I have seen one to many times people invest in Detroit and lose big. Its not as easy as it might appear.

If I can be any further assistance to you let me know.
0 votes
Yes this is the same Tom Smith that was NSUK .
Flag Wed Nov 21, 2012
Milan Ramsey, Agent, Southfield, MI
Mon Oct 1, 2012
Hello Beverley,

I own a Real Estate Investment Company called Jetsetters Investment Properties. I work with investors from the United States and abroad. I currently have 4 properties in the Grandmont-Rosedale area that I just sold.

As a woman I totally understand any concerns that you may have with investing in that area..but I won't say that its a piece of cake...but its a piece of cake. lol My investment process is simple and straight to the point. It looks like you may have found a few properties in that area that your interested in. I will be more than happy to assist you with it. Please give me an email or call at anytime. Hope to hear from you soon.

Milan Ramsey
Jetsetters Investment Properties

Facebook Milan Ramsey
Facebook Jetsetters Investment Properties
Twitter @Milan_Ramsey
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Haig Istambo…, Agent, Rochester, MI
Mon Oct 1, 2012
Hello Beverly,

Send me an email and I can send you a PDF file of a portfolio of tenanted homes in Detroit and/or Pontiac. The work has been done, everything is up to code and tenants have been placed in these homes. I have turn key homes that will return anywhere from 13 - 30% return on your investment.

You can manage them yourself or have a management company mange it for you ( I can put you in touch with a few).

My contact information is below, send me an email and I will send you a PDF file of a few of the homes that will give you an idea on what you can get.

Thank you,

Elias Realty
(248) 379-6547
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Eugene Glenn, Other Pro, Detroit, MI
Mon Oct 1, 2012
It depends on who you ask. Agents would prefer you buy from them and investors would prefer you don't. I will say that agents usually have little or no knowledge about the property. They are just middlemen. Investors usually own the property an have 1st hand knowledge about the property they are selling. Also, properties sold by investors are usually already rented and/or renovated. But, If you are looking for a primary residence then an agent would be best.



Please Visit My Website:


Because Price Does Matter

Sent from my iPad
0 votes
Eric Michael, Agent, Northville, MI
Mon Oct 1, 2012
"Do they work?" is a loaded question.

Some do, some don't. Why not contact a local real estate agent and have a talk about it?
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Bob Schweiss, Agent, Livonia, MI
Mon Oct 1, 2012
Hi Beverley,

Investment companys provide a good service, they normally buy from sourcers who provide a rehabbed property. The property is typically rented and managed through one of there property management companys. The down side is the cost. The cost tends to be higher then what the property is worth and most of the properties are in Detroit. I love Detroit i have live in Woodbridge for 20 plus years.

There are some good companys out there, but you can do the same thing.

Here is what i can do for you. I am a licensed Real Estate Agent in Michigan as well as a licensed builder. I can assist you in finding a property, i can also rehab it for you. There are a number of scenarios and i would be more than happy to discuss them with you.

Bob Schweiss
Remerica Hometown One
0 votes
Kevin Flowers, , Detroit, MI
Mon Oct 1, 2012
Hello Beverley!

Your decision to purchase an investment property here in Detroit is a very good one. We are experiencing a real estate "gold rush" at the present moment. Lot's of inventory and very low price points.

Yes, investment companies do work but beware! There are a lot of people/companies out here claiming to know it all and do it all but in truth are practically novice's, trying to cash in on the "rush". If you are a seasoned investor, you'll know what to look for. If you are just starting out, do your due diligence and research as much as possible, the company you decide to work with. Try and find a company that has a presence on the web, is local, and it self, invests in and around Detroit.

I am available and more than happy to assist you with your investment needs and goals. Contact me when you are ready to begin your journey to wealth building.

Have a great day!

To your success, in business and life!

Kevin Flowers
Discount Detroit
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