Jason – Decent advice but incomplete.My strongest advice is to deal directly with someone locally here. Why? Local knowledge.<moderator: delete advertising>My advice:- Forget the brokers- Forget FORECLOSURES- Forget the other middlemen- Forget the "fully rehabbed houses"- Forget the crappy areas- Ask for and get comps for recent sales ON THE SAME…[Read more]

Nathan – A couple of things. First, I don't know you but I have a tremendous amount of respect for your partner Mike and his wife Nanette.Second, "negative on Detroit" is an understatement. I hate Detroit. And it comes from experience. You may not be aware of it but I own a 23 apartment building with some partners in what's considered one of the…[Read more]

Jay – I'm intrigued by the way you're setting up your transactions.Can you share the details if it's not something proprietary?Dennis FassettSuburban Turn [email protected]

Honestly – I'm SO tired of hearing how wonderful Detroit property is.First of all suggesting that over a five year period a rental house, even if it's "fully rehabbed", will have zero repairs and maintenance is ridiculous. Of course something will happen that will need repairs. These are rentals – in DETROIT for God's sake. And probably Section 8…[Read more]