The Cash Flow Mercenary - Metro Detroit Cashflow Real Estate

If you’re at all a regular reader of this space, you know that I’m a hawk for cash flow. Regular, boring, methodical cash flow.
Not only that, but I have been boldly proclaiming far and wide now for over a year that southeastern Michigan is THE best investment real estate market in the country for buy-and-hold [...]

Yesterday I started a discussion on how finding, screening, and selecting tenants is Critical Success Factor #2 for being successful at owning rental properties. And I began to discuss the four steps that need to be taken to screen and select successfully.
I talked about step 1 yesterday. That was Set expectations up front.
I’ll finish up with the rest of the steps [...]

That’s harsh I know. And the way that I run my business it’s not at all accurate, because I have some of the best renters that you could imagine.
But think about it - you have a house that’s worth, say $100,000. You’ve bought it, done some work to it, and you’ve made sure that you’ve [...]

Here we go again.
 
Don’t you just love it when someone asks your opinion of something that you actually happen to know a LOT about, you give them the answer, then they proceed to argue with you?
 
It happened to me again last week.
 
And unfortunately it was one of those I-already-made-the-decision-so-I’m-only-asking-you-because-I-want-to-validate-in-my-own-mind-that-I-was-right kind of questions.
 
I’ll spare you the details, but [...]

In this real estate market there is no good reason to buy a property that you plan to hold and rent if it needs any more than about $2500 worth of work.
It’s just not necessary, because there are so many great properties on the market - and I mean listed on the MLS and STILL [...]