Group Rental Property Investment

Back in 2019, I decided to invest in a rental property in Detroit, MI with an investment club.  I found the leader of the group via YouTube.  I had been watching her videos for a year and I liked the information she was putting out regarding business and making your money work for you. 

I know there are questions people want answers to like:

1. How do you know if you can trust that person?

2. How often will you receive your portion of the profits?

3. How long will you own the property?

Truth, I didn’t know if I could truly trust that person, but we have a contract signed with all owners that lays out everyone’s percentage and how often monies will be disbursed. There is also a clause about what happens to the property after so many years. When you think about, even if I had a personal relationship with this group of investors, I would still want a contract.

Fast Forward to Present Day!

I’d like to say that it’s been a learning experience for sure. Some things have gone well and some things have gone not so well. Let me just say, I’m so glad I didn’t pay a whole lot of money.

First, we didn’t really get payouts every quarter because the tenant stopped paying rent. Yes, before the pandemic happened the tenant stopped paying rent. It’s a sad situation because the group is being told that the tenant is not affected by Covid-19. She’s still working and not paying rent.

The owner of the investment club posted a video on YouTube about the experience. I’m linking it below