Should You Invest In Detroit Real Estate? Watch Before You Buy

Подписаться 169 тыс.

Просмотров 29 тыс.

50% 1

If you're considering investing in Detroit real estate, watch this video first! In this video, we'll share with you everything you need to know before buying any Detroit real estate.
If you're looking to invest Detroit real estate we will give you all the gems to make sure you're making the right decision. In this video, we'll share with you all the latest information about Detroit real estate, including the history of the city, current trends and prices. By watching this video, you'll be able to make an informed decision about whether or not to invest in Detroit real estate!
William Rogan Official Instagram: / williamroganiii
William Pinson Jr. Official Instagram: / williampinsonjr
//HOUSE HACKONOMICS BOOK: mgbookstore.com/
//JOIN EYL UNIVERSITY: www.eylunivers...
//APPLY FOR A LOAN: www.applywithm...
// SECOND OPINION ON YOUR CURRENT LOAN: If you are currently in the process of refinancing or purchasing a home and want a second opinion on your deal, schedule your appointment here: app.acuitysche...
//Homebuyer's Blueprint Vol. 1: www.thehomebuy...
//MG The Mortgage Guy Official Instagram: / mgthemortgageguy
//MG The Mortgage Guy Official Facebook: / thehomebuyersblueprint
//MG The Mortgage Guy Official TikTok:
/ mgmortgageguy
SUBSCRIBE: / mgthemortgageguy
Thanks for watching!!

Опубликовано:

7 сен 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 102

@Iamqroland Год назад

I am a developer/builder born and raised and still live in Detroit and they did not give MOST of the info. Most of the land bank homes are severely dilapidated and not even worth $1k. They made it sound cute and so easy they aren’t giving the real smh. The land bank is very unresponsive and hard to get anything done if you get lucky and find something and if it’s of any value you have to submit a plan for rehab who your licensed builder will be etc etc

@demondmorris7308 Год назад

Sadly This is the blueprint for these types of videos

@lowmanagain Год назад

I'm a licensed builder. I was going to buy 2 houses from land Bank this week. I bought rehabbed and sold hundreds of properties in Detroit

@satenikharutyunyan4134 Год назад

@@lowmanagain bravo!!!

@lowmanagain Год назад

@@satenikharutyunyan4134 thanks brother you made my day.

@MikeJones-cs5ci Год назад

The landbank was never sanctioned or agreed upon by the citizens it suddenly thrusted upon us by the crooked as Detroit mayor and the state of Michigan the really good properties are given first dibs to the corporations private investors and equity firms and the torn down properties are left to be purchased by the citizens hardly no quick flip houses at all and what's left they make cash giving the contractors money to for demolition companies THE CITIZENS SHOULD VOTE YO DISSOLVE THIS BULLSHIT AND GO BACK TO PRE EMERGENCY MANAGER LAWS LAW 83 COUNTIES AND OURS IS THE ONLY ONE IN THE STATE THAT'S SUBJECTS TO FORECLOSURE AFTER 2 YEARS AND WE GET THE SCRAPS FUCK THIS MAYOR AND THE LANDBANK I LIVE HERE ALL I SEE IS WHITE PEOPLE BENEFITING FROM THIS PROCESS WERE PRICED OUT .

@SmooveACB Год назад

The only additional factors I would offer is that inventory for quality DLBA structures is low and most structures need $50K-$100K in pre-development and construction cost. Detroit also has a shortage in experienced and reliable tradespeople so honestly, capital is the least of your worries. Not to mention the DLBA holds a lien on your deed until you meet the requirements which is the reason most people aren't able to get construction loans to develop. Getting that release of interest requires you to secure the entire structure, have running water, bathroom, hot water tank, microwave/ hot plate, countertop and one livable room. Detroit is also ramping up on blight tickets and having landlords register their investment properties. Ooooooohhhhh and please be aware that Freddie & Fannie are not as open to funding conventional mortgages on properties that were previously DLBA. I said all that to say, Detroit is going to boom in due time but be prepared to navigate an interesting ecosystem.

@jjordan6066 Год назад

You are the real MVP.

@MonNoir Год назад

Man thanks for breaking this down

@glennwashington5327 11 месяцев назад

I lived in Detroit for 4 years as a realtor and investor. I would not recommend anyone investing in Detroit.

@cytx6835 11 месяцев назад

@@glennwashington5327 May I ask you why?

@teecee9926 4 месяца назад

@@glennwashington5327why is that?

@itsjustmedeedee6978 Год назад

As a Detroit resident and former real estate agent in Detroit let's be very clear about a few things The bad 1. There are only a few zip codes worth investigating in the city. 2. The crime rate is too high and city resources to few to want to move into the city. 3. Almost none of the homes on the land banks are in desirable neighborhoods and unless u buying the block it ain't worth it! The good! 1.Rent in the city has gone up! Great for investors 2. Detroit is rental city! A lot of residents rent in the city 3. Downtown is always developing....if your smart u would invest in the historical homes in Boston- Edison or in Highland Park near Woodward. I sold a home in HP a few years back that I bet will be worth at lest 5x what it sold for in the next 10 years. Good video!

@mrpimpman7 Год назад

Thank you for this info… you are much appreciated. Quick question as I am looking in the Bagley and Morningside neighborhoods.. do you think those are good areas to invest in?

@itsjustmedeedee6978 Год назад

Bagley yes, Morningside not so much it has pockets of desirable homes but the neighborhood itself is needs alot of work.

@lalamurray1777 3 месяца назад

Any particular part of the Boston Edison area?

@itsjustmedeedee6978 3 месяца назад

@lalamurray1777 The closer to Henry Ford hospital and transit will be best. A lot of residents rely on public transit. Being close to the hospital would be desirable for those that work in the area which has quite a few businesses.

@de_Atavist 2 месяца назад

DeeDee...the info you've provided is worth it's weight in gold. Appreciate the alpha. Can you provide your professional contact info. I'd like to invest and would welcome a knowledgeable agent

@demonastar9125 23 дня назад

Buying from DLB use to be much simpler. That is before Mayor D. Took over. I purchased a house for $2,700 invested about $8,000 and 6 months later flipped it for $20,000. Now it's much more difficult.

@gregcolson247 Год назад

12:14 A DSCR loan, also known as a debt service coverage ratio loan, is a type of loan used for commercial real estate. It's designed to ensure that the borrower can afford to make the loan payments by analyzing their cash flow. The lender calculates the borrower's DSCR by dividing the property's net operating income (NOI) by the loan payments. The higher the DSCR, the lower the risk to the lender. A DSCR of 1.0 means that the borrower's cash flow is just enough to cover the loan payments, while a DSCR of 1.25 or higher is generally required for most lenders to approve the loan. In simple terms, a DSCR loan is a way for a borrower to finance a commercial property purchase, with the lender making sure that the borrower has enough cash flow to make the loan payments.

@denisemoore4266 Год назад

DSCR are for commercial real estate as well as for residential rental properties

@lowmanagain Год назад

I'm a licensed builder. I own a construction company with heavy equipment. I bought rehabbed and sold hundreds of properties in Detroit. I moved to the country in a lakefront home 10 years ago. But I still own a really nice house in Detroit area. I'm headed back to build a few houses and rehab a few. I'm coming back out of retirement lol

@larrytucker5882 Год назад

How can I contact your company

@MarkbenIsrael Год назад

I love to see and hear young black men, speaking knowledgeablely about things that matter. It's wonderful what you Kings are doing. What's the name of your mortgage company again?

@darnellcapriccioso Год назад

For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

@maiadazz Год назад

@Craig Daniels Given current recession pressures, it is unlikely that the stock will yield substantial returns in the near term. However, it may be a suitable investment opportunity. I will monitor market conditions and consider purchasing when there is an improvement in the relevant economic indicators, any idea which stocks this may be?

@tatianastarcic Год назад

@Craig Daniels You are right! I diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above 750k in net profit within 2 years across high dividend yield stocks, ETF and bonds.

@richardhudson1243 Год назад

@@tatianastarcic I’m in dire need of need guidance so i can salvage my portfolio due to the massive dips and come up with better strategies. How can I reach this advisor?

@tatianastarcic Год назад

@@richardhudson1243 An experienced coach, such as Melissa Scott Glazner, can provide valuable guidance in navigating volatile markets. Information about her can be easily found online

@ferrarit2381 Год назад

They don’t know the eviction process but steady chatting about finding experts in a city that’s the first thing you should be able to explain to a new investor because that can wipe you out if the city is not landlord friendly

@chesneyboyd4184 Год назад

Oh my gosh…… home ownership and health!!!!! Struggling to pay the mortgage all our lives… the stress, strokes, high blood pressure… thank you for that comment.

@jjordan6066 Год назад

Great comment about that.

@timothyburke3971 Год назад

Nice work! I’m glad that Detroit, is being highlighted in regards to investment lending. I’m a lender, as well I’m the space. We lend nationwide and these guys are super on point! I’m a native Detroiter. I like deals below deals below 1.0 DSCR. I’d love to tap in with anyone that’s currently in the game or interested in getting these types of deals done!😎🙌🏽

@jibrilbuilder2668 Год назад

Word what’s your contact info

@tijaduno3417 Год назад

I'm interested. I'm bidding for properties in Detroit landbank.

@thadausjackson5403 Год назад

What's your contact info?

@lifewithphoenix7972 Год назад

Would love a video on the different districts

@foxyglobetrotta5794 Год назад

I am from Detroit and invest in Detroit so this info was super value. Thanks for sharing and featuring these knowledgeable brothers.

@landlordnation Год назад

MG let me tell you, if you are evicting a tenant in Detroit it will take you about 6-9 months especially if you are dealing with a single mother. If you are in the suburban communities about 30-60 days WE KNOW!

@louismoore9868 Год назад

Some very good information. Detroit is my hometown, but I'm in Macon Ga now, wholesaling Real Estate. Hoping to come back for good this year along with my company. This information is good to know. Thanks Guys

@demonastar9125 23 дня назад

Thank You guys 🙏 lot of good information. I appreciate you all. ❤

@de_Atavist Год назад

That's hella value you dropped on the masses MG.....Salute!!

@user-yf5dz5px9j Год назад

This was amazing!!!! Shout out to Will and Pj doing big things for our city and representing our home town. I look forward to working with you guys in the future!!!

@mkenzieyamazaki9420 Год назад

I own a few rentals in Detroit. That happened to me! They took the doors, appliances, garage door. You name it. It was gone! Keep pushing💪

@lmoree00 8 месяцев назад

Wow that's effin ridiculous.

@misselevate5442 Год назад

This was a amazing video! Thanks a million MG for always keeping us informed!

@TheFinanceHotSeat 9 месяцев назад

Detroit properties will explode in the next few years. All the investments that were made by Dan Gilbert will take a few years to effect areas that are outside of the immediate downtown area. But for now investors should enjoy a little cash flow while values rise especially once we get through this high interest rate phase.

@JohnVeeDetroit Год назад

I wouldn't say crashing, but DEFINITELY correcting!!

@todaysrealinfo570 Год назад

What up Doe 😊

@ferrarit2381 Год назад

These guys funny doesn’t bring on lenders but the one time is one’s from one of the riskiest places it’s seasoned investors who don’t deal out there because of the headaches

@sharayarnold5335 Год назад

I’m excited to hear this information !!

@BiGBGAMING_ 10 месяцев назад

MAD I MISSED THE EVENT I JUST GOT THE KNOWLEDGE 🔥🔥💪🏾

@power2reach818 Год назад

I’m in the D!

@jpatd6442 Год назад

Have the best quality security system added into the loan contract along with a security company that's main objective & solely responsibility is 2 have a certified well trainedstaff that can provide emonitor 24 hours as part of the

@jacquelinemitchell295 9 месяцев назад

Very impressed it’s these young men

@JBryan4350 Год назад

Great info and priceless presentation! Thank you Gentlemen for sharing your knowledge to the urban community.

@landlordnation Год назад

I wouldn't touch anything in the land bank, the juice isn't worth squeeze.

@robrandonbee3430 Год назад

It can take several months for an eviction because of the courts.

@mrtowner83 Год назад

Life changing information. I’m from flint,MI and to know that this is possible in my state is next level ✊🏾

@QB-ul5lq Год назад

Cleveland

@gutztrim Год назад

Very gemmy conversation here sir

@ferrarit2381 Год назад

install before closing i wonder what the inspection process is out there again new investors find a less risky environment when your just starting out a lot of these people giving advice are in a different financial space than you are

@RealS-v9h 2 месяца назад

Seeing this video a year later ...any chance any similar event is being hosted any time soon?

@simplysimon772 5 месяцев назад

Love this......

@simonelangston4092 Год назад

Where can we find the guest contact info?

@avibeperson1180 Год назад

Can you fund outside of Detroit? Pennsylvania or New Jersey?

@ronaemarshall5947 Год назад

Super informative.

@ronaemarshall5947 Год назад

I wanted to join the She owns it webinar but I couldn’t register. I’m moving to Detroit soon looking to get into the real estate game

@bigbrotherinlife1654 Год назад

I'm curious about the renovation cost 🤔

@sabrinaross6342 Год назад

What if you own free and clear, and are newly renovated in Detroit with Scores under 700 , can We get the loan?

@sheilam9141 Год назад

that's a washout refi. you can easily shop rates for that.

@JohnVeeDetroit Год назад

Tell my brother up there to come see me at Boss Cuts Supreme to fix that crooked lineup!!

@weswilliams3783 Год назад

Dope!!🔥

@kenlawrence6716 Год назад

I'm interested in finding multifamily's + Event Space properties in Detroit. Can you guys help?

@jakefarmer9908 Год назад

Real deal sauce

@JohnVeeDetroit Год назад

Can the DSCR Loan be completely under the LLC if the LLC has its own score?

@PYTU Год назад

Hold for 1 year after the work is done or doing the project process?

@damita4336 Год назад

For the formula to make sense it would have to be AFTER renovation of the property or it could not meet the current rental value. But I'm thinking algebraically

@AlumniMONEY Год назад

These guys are based in Washington, MI., this is the explanation of why he couldn't list an exact location "Downtown Detroit." MAJOR point reduction!

@ronmiles7246 Год назад

PH stand up!!! proud of y'all kings dropping Gems

@williamrogan5400 Год назад

PH Stand Up! What's good Ron!

@exfolios 7 месяцев назад

If you’re not from michigan, you cannot nuy from detroit land bank.

@simplysimon772 5 месяцев назад

You have to live in Detroit to buy from the Land Bank.

@tyreewright5065 Год назад

I don’t see the link in the comments

@Iamqroland Год назад

It takes about 6-8 months to evict in Detroit

@catchnvibestv3980 Год назад

I hate the homes here inside the city. Now anywhere on the outs the homes are beautiful

@lgee9027 Год назад

Come to Detroit and put your boots on the ground!!!! Its not as easy to do. In the last two years the homes are very expensive now to do flips, come see for yourself!!!!!

@khalilibrahim9315 Год назад

How long have you been flipping in the D? Has anything changed in the last 6 mos.?

@lgee9027 Год назад

@@khalilibrahim9315 we really dont flip, just bought for cash super cheap and rent the houses out. Now nothing is cheap unless it has a ton of work

@lgee9027 Год назад

@@khalilibrahim9315 since 2009

@edwardmiller9611 8 месяцев назад

Have a home in Detroit? Your home will be broken into and you will be robbed when you are not at home. That may happen at night when you are home and sleeping.