About: Investing with Michigan Real Estates
Investment Tips & Gains
Owning Investment Properties
- Enjoy the benefits that come with real estate investing with minimum risks and hassles.
- We operate from the heart to maximize cash flow through single-family rentals.
Identify & Purchase Solid Cash-Producing Properties
- Acquisition, rehab, screening and building referrals from existing tenants.
- Manage all aspects of the property.
- Maintaining the high standard of management and pride of ownership.
True Passive Income
Monthly Cash Flow - A unique cash flow investment in single-family rental homes. Where Return On Investment "ROI" comes from rent-paying tenants.
Equity building on investment with time along with quarterly income distributions.
We can never predict the future property value may increase over time. Identified goals, and applying existing strategies, play an important roll in success.
Vibrant economy, increasing population and good job market.
Cash is KING... Buy and hold for rental income.
Research and double check each potential. Remove the emotion and do the math, because numbers don't lie.
Do the Math
Purchased price minus realistic cost and expenses. If returns aren't met, then NEXT property.
The Good Manager
A good manager can make or break any business.
These are our five strategies when investing in Detroit, Michigan to reach your financial goals:
1. Location. Location. Location.
Adjacent properties can drive down the value of your property. Do drive around the block to see the overall appeal of the neighborhood. The overall exterior conditions of the neighbor homes will determine how quickly you can get the house rented. Is it a busy traffic street? Is the street paved? Are lawns moved?
2. You will make your decision based on numbers.
What are the rents in the neighborhood? You will always make your decision based on cash flow, cost of rehabbing the homes, and how many years you will recapture your investment.
3. Think long term when you are investing in Detroit, Michigan.
It is not a 'flip' and make a quick profit county. Your rewards are in holding the property for five to ten years. Do you have the stamina to be in it for the long haul? It’s not for the investors who want to treat real estate as a stock dividend. You are interested in fostering and maintaining long term relationships with your tenants. You are interested and curious in their lives; this might have an impact on whether they will make sure the rent is paid first before other urgent bills.
4. Do you like having long conversations with people?
Investing in real estate is a relationship-and-people business. Do you have 10-15 minutes to screen a prospective tenant? You will experience your prospective tenant asking the same questions repeatedly. “Why are you moving” will offer clues on whether they are suitable tenants for you or not. Ask them “have you ever been evicted?” Wait to listen for their response and how they are talking to their children while you are on the phone with them. This will determine their behavior toward you.
Send a text to your tenant to say, “How are you, and how are you doing?” Be curious about their lives. How they answer will be clues as to whether or not they are struggling with paying next month's rent.
5. Do complete work
We spent 2-3 months doing the repairs using quality parts and labor. Don’t cut corners buying cheap parts or just enough to get it working by doing sub-standard work. Hire a painter who will do a base coat and two coats on all the walls. Paint the inside of all cabinets and closet. Snake the drains and use bleach generously to get the house refreshed and updated.