I heard about this on the radio. You can check them out at www.investingindetroit.com. Please let me know what you think. Basically they have chosen properties and you put a down payment and they rehab, refinance and rent it out for you. Also, I get the rent should be 2% of acquistion price however is that for all cases? Doesn’t the amount of down payment and other factors play into this? Please advise. Thanks.
There is no website at that link for me. Is anyone else getting it?
Personally I would be suspect of such an operation. You are outsourcing every decision; property, rehab, refi and tenant yet you are coming up with the cash. Sounds like a house of cards, when the cash inflow dries-up you are left holding the bag. Just my 2 cents.
71tr’s 2 cents is worth it’s weight in gold. With these turnkey operatings, guess who’s making the money and who’s not? Hint: you’re the one NOT making the money.
Mike