can i buy a house at detroit and rent it directly?

Asked by armandkwemo, Detroit, MI Fri Jul 26, 2013

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5
Sal Leto, Both Buyer And Seller, Detroit, MI
Thu Aug 1, 2013
I have some properties in Orlando Florida that are great for investment. They are already rehabbed and rented out. i have less than a 3.6% vacancy rate (annually) and these properties are already cash flowing and will be appreciating to double maybe even triple in the next 5-7 years. Call me if you are interested in looking at what i have. My name is Sal Leto my number is 562-441-3757 and my email is salvatore.leto12@gmail.com
0 votes
Charlene Joh…, Agent, Southfield, MI
Sun Jul 28, 2013
Hello Armand,

Yes you can, even though you will need some assistance if you do not live in Michigan. I am a licensed Realtor and we also have a property management company.

We successfully work with U.S. and Foreign Investors and we believe in the best customer service with integrity. Please contact us allow me the opportunity to work with you in achieving your real estate goals.

Thank you,

Charlene Johnson, Realtor
Conquest Real Estate Group
16250 Northland Drive, Suite 202
Southfield, MI 48075
(248) 569-1486 - Office
(248) 595-8966 - Fax
(313) 574-7633 - Cell
cjohn3615@gmail.com
0 votes
Ian Watts, Agent, Detroit, MI
Sat Jul 27, 2013
Greetings,

While I would like to get a bit more clarity regarding your specific question, here is a link to my FREE E-Book written for International Investors. Please feel free to reach out with any questions that you might have.
0 votes
Guy Gailliard, Agent, Southfield, MI
Fri Jul 26, 2013
Yes you can. You just need to talk with an accountant. They can assist you with setting up an LLC to purchase your properties. Also I would speak to a good Realtor who can assist you with property management and selecting the right properties.

Or if you prefer you can purchase a house that has already been renovated and has a tenant with property management in place. That is what I provide. Our company is Metro Detroit Cashflow Properties. We assist investors with these types of request. Please visit our website and contact us so that we can help you further

Best Regards,
Guy Gailliard
http://www.metrodetroitcashflow.com
http://www.metrodetroitcashflow@gmail.com
http://www.facebook.com/detroitcashflow
0 votes
Sally Grenier, Agent, Boulder, CO
Fri Jul 26, 2013
Of course, why couldn't you? You might want to talk to your accountant or CPA and find out what your financial implications are in buying a rental property. You'll have to report the rent as income, but you'll be able to write off a bunch of expenses. You may also be subject to capital gains taxes when you go to sell it down the road.

You might also want to educate yourself on what it takes to be a landlord and see what's legally required.
0 votes
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