Flip Tip Summary
Detroit is on a come back mission, but if you decide to invest in Detroit real estate, it’s critical that you’re partnered with the right team. Greg White of Imagine Home Realty tells us more in this FlipNerd.com Flip Tip.
Flip Tip Transcript:
Mike Hambright: Hey it’s Mike Hambright from FlipNerd.com and we have a quick VIP tip to share with you from Greg White who’s going to share a tip on how to properly and successfully invest in Detroit.
Greg White: So that my most important tip for anybody that wants to invest, buy and hold, or flip properties in the metro Detroit area is have a good team in place. Have somebody that knows the area. Areas are very important whenever you’re buying in or out of the city. Make sure you’re doing your homework moreover than just about any other place in the country. I’ve invested all over the United States and here in Detroit – more than anywhere else – due diligence is the most important thing.
The second most important thing is having the right team in place. Have the right guys to buy the properties for you. Have the right guys in place that are going to rehab the properties and if you’re holding it, have the right property management company in place. There are a lot of people that say they do it but there’s only very few people that [inaudible 00:01:00]. Just make sure that you have the right people in place, that you’re researching the properties, you’re doing your due diligence, and always let pro warranty deed when you’re buying a property. It’s going to make it much more marketable when you go to resell it and it removes any risks that you have with the ability to get title insurance.
Mike Hambright: Thank you for joining us for another FlipNerd Flip Tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
To access the most robust social platform in existence for real estate investors, where you can find off-market wholesale deals, find great vendors to help you in your business, and learn and socialize with other real estate investors, please visit the all-new FlipNerd.com. If you’re not yet a member, you can set up a free account in less than a minute.
Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
Greg White: So that my most important tip for anybody that wants to invest, buy and hold, or flip properties in the metro Detroit area is have a good team in place. Have somebody that knows the area. Areas are very important whenever you’re buying in or out of the city. Make sure you’re doing your homework moreover than just about any other place in the country. I’ve invested all over the United States and here in Detroit – more than anywhere else – due diligence is the most important thing.
The second most important thing is having the right team in place. Have the right guys to buy the properties for you. Have the right guys in place that are going to rehab the properties and if you’re holding it, have the right property management company in place. There are a lot of people that say they do it but there’s only very few people that [inaudible 00:01:00]. Just make sure that you have the right people in place, that you’re researching the properties, you’re doing your due diligence, and always let pro warranty deed when you’re buying a property. It’s going to make it much more marketable when you go to resell it and it removes any risks that you have with the ability to get title insurance.
Mike Hambright: Thank you for joining us for another FlipNerd Flip Tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
To access the most robust social platform in existence for real estate investors, where you can find off-market wholesale deals, find great vendors to help you in your business, and learn and socialize with other real estate investors, please visit the all-new FlipNerd.com. If you’re not yet a member, you can set up a free account in less than a minute.
Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
